Bombay HC declined to entertain Revenue’s depreciation challenge and remanded the matter to ITAT only to decide...
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.
Bombay HC dismissed Revenue’s appeal, holding the Section 263 issue in unabated search assessments was covered by...
Supreme Court held the CIT had no power to cancel Section 12A registration before 01.10.2004, restored the...
Calcutta High Court held that a Section 148 notice uploaded after the limitation period was time-barred and...
Gujarat High Court upheld reassessment under Sections 147 and 148, holding that fresh survey material and statements...
Madras High Court upheld additions based on corroborated loose sheets, rejected telescoping and business stock claims, and...
Madras HC upheld the Section 148A(d) order, holding the Jurisdictional Assessing Officer could issue notices under Sections...
Explains taxation of gifts under Section 56(2)(x), exemptions for relatives, Rs. 50,000 threshold, clubbing provisions and documentation...
Income-tax Act, 2025 revises the TRACES TDS Justification Report password format with new form numbering and structure...
Explains how the second proviso to Section 112 caps LTCG tax for eligible resident individuals and HUFs...