The issue was whether full bank deposits of a commission agent can be taxed as unexplained income....
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.
The issue was whether reassessment beyond 3 years is valid when escaped income is below ₹50 lakh....
ITAT held that a return filed under section 148 remains valid even if delayed. Failure to issue...
The tribunal ruled that business income under section 44AD cannot be taxed using section 44ADA provisions. Presumptive...
The tribunal held that the 10% safe harbour applies even to DVO valuations, not just stamp duty...
The issue was whether high-turnover companies can be compared with a smaller software service provider. The Tribunal...
The case involved additions made solely on an Excel sheet and a third-party statement alleging cash payments....
Section 247 now permits registered valuers to assist in search and seizure valuations. The key takeaway is...
Explains new income-tax cash limits on expenses, receipts, and loans. Highlights that exceeding thresholds can lead to...
The Tribunal held that ad hoc disallowance of labour expenses without concrete evidence is unsustainable. It ruled...