ITAT Chennai allows pre-2017 R&D and software expenditure claims, deletes MAT adjustment and remands aircraft depreciation issue....
Income Tax
Income tax in India is a direct tax imposed on individuals, businesses, and other entities based on their income. Understanding income tax is essential for proper financial planning and compliance with government regulations. This section provides comprehensive resources covering income tax slabs, ITR filing, deductions, exemptions, and the latest updates for FY 2025–26.
Whether you are a salaried employee, freelancer, or business owner, you can explore detailed guides below to learn how to calculate your tax, file returns, and maximize eligible deductions. Stay informed with the latest income tax rules, deadlines, and expert insights to manage your taxes efficiently.
Madras High Court dismisses Atofina Peroxides appeals, holding that unsupported expense claims and raw material variation justified...
ITAT Mumbai held reassessment proceedings void where Section 151(ii) approval was not obtained from the specified authority...
ITAT Mumbai quashes AY 2017-18 reassessment after finding PCIT approval invalid where Section 151(ii) required approval from...
Supreme Court holds both Section 10B(8) conditions mandatory and denies benefit where declaration was filed after the...
ITAT Bangalore excludes Infosys and Persistent Systems as comparables and allows working capital adjustment in Huawei Technologies’...
Karnataka HC upheld ITAT’s decision quashing Flextronics’ assessment for failure to follow binding DRP directions under Section...
Bombay High Court quashes Section 148 notices issued after 1 April 2021 under old law and declares...
ITAT Delhi quashes Section 263 revision against Ahlcon Parenterals, holding that the PCIT acted on audit objections...
Summary: A ₹50 lakh cash deposit in a bank account can attract tax scrutiny because cash deposits...