The Tribunal held that joint ownership alone cannot restrict Section 54 deduction where the entire source of...
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 Tribunal ruled that under-reported income must be calculated as the difference between assessed income and income...
The Tribunal deleted penalty under Section 271(1)(c) after substantially deleting the unexplained cash credit addition under Section...
The Tribunal observed that delays in completion of housing projects by builders cannot deprive a taxpayer of...
The Hyderabad ITAT ruled that the CIT(A) could not delete unexplained cash deposit additions merely on the...
The ITAT Ahmedabad held that co-operative banks qualify as co-operative societies for purposes of Section 80P(2)(d). The...
The Delhi High Court set aside an assessment order after finding that the Assessing Officer failed to...
The ITAT held that credits received in the assessee’s bank account were repayments of earlier advances and...
Tribunal ruled that income tax demands not included in the approved resolution plan were irrevocably extinguished. The...
AI-driven scrutiny and AIS integration are increasing Income Tax notices where property transactions occur below stamp duty...