The Tribunal held that reassessment under Sections 147/148 is invalid when the assessment year is the year...
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 held that revision under Section 263 is invalid where the Assessing Officer examined records and...
The Tribunal held that cash deposits cannot be treated as unexplained when the bank account is recorded...
The Tribunal ruled that admission of fresh evidence without AOs examination violated procedural rules. The deletion of...
The Tribunal found non-compliance with statutory duties under Sections 250(4) and 250(6). The dismissal on delay alone...
When a scheduled video hearing under faceless assessment is not attended by the officer, the opportunity becomes...
The Tribunal ruled that Section 40(a)(ia) cannot be used to penalize deduction under an incorrect TDS provision...
Budget 2026 introduces the new Income Tax Act, 2025 effective 1 April 2026. The existing law will...
The Court ruled that reopening based solely on an audit objection amounts to change of opinion if...
The AO recorded reasons for escapement without receiving confirmation from the Sub-Registrar. ITAT ruled that absence of...