ITAT Mumbai deleted the Section 68 addition on LTCG from listed shares, holding that documentary evidence, STT...
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.
Budget 2026 introduces sweeping retrospective amendments affecting limitation, reassessment jurisdiction, DIN validity, and TPO timelines. The changes...
The ruling affirms India’s shift from literal interpretation to a substance-based tax regime. It clarifies that transactions...
Rule 51 limits Indian resident participation in original funds to 5% for specific AIF transfers, while Rule...
Draft Rule 50 provides a formula-based mechanism to attribute income taxed under Section 67(10) to capital assets...
Introduction The taxation of capital gains is one of the most significant components of India’s direct tax...
The Court quashed withdrawal of tax exemption after holding that franchise fees from affiliated schools were only...
The Court held that while duty drawback is not eligible for Section 80-IC deduction, excise and customs...
The Tribunal held that reopening beyond three years was invalid since the alleged escaped income, after considering...
Arulcheyal Kainkarrya Sabha Vs CIT (Exemptions) (ITAT Chennai) The appeals before the Income Tax Appellate Tribunal (ITAT),...