Income Tax

An income tax is a tax imposed on individuals, entities (taxpayers). That varies with their respective income, profits (taxable income). Many jurisdictions refer to income tax on business entities as companies ,corporate tax. Partnerships generally are not taxed rather, the partners are taxed on their share of partnership items. Tax may be imposed by both a country and subdivisions. Most jurisdictions exempt locally organized charitable organizations from tax.

Income Tax Article

Validity of Reassessment Notice under section 148 if there is no service of notice at address given in PAN card but Department have access...

Validity of Reassessment Notice under section 148 if there is no service of notice at...

Fees charged for banking services, whether to be construed as commission liable for TDS U/s 194H?

Fees charged for banking services, whether to be construed as commission liable for TDS U/s...

Landmark Judgement : Acquiring property on lease for period exceeding 12 year eligible exemption u/s 54F exemption: Chennai ITAT

Landmark Judgement : Acquiring property on lease for period exceeding 12 year eligible exemption u/s...

Gujarat HC quashes levy of IGST ocean freight on transportation of goods by a vessel

Gujarat HC quashes levy of IGST ocean freight on transportation of goods by a vessel Holds...

Tax deduction at source u/s 194H on payment to bank for Credit Card transaction processing

Tax deduction at source u/s 194H on payment to bank for Credit Card transaction processing Short...

Applicability of Tax deduction at source Under section 195 on Payment of commission charges to overseas agents

Applicability of Tax deduction at source Under section 195 on Payment of commission charges to...

Whether Penalty under section 271(1)(c) is attracted on Declaration of additional income after being summoned by DIT(Inv.) if revised return is filed within period...

Whether Penalty under section 271(1)(c) is attracted on Declaration of additional income after being summoned...

Two Powerful Income Tax Raid : North India for Rs. 1000 Crore and South India for Rs. 532 Crore

Two Powerful Income Tax Raid : North India for Rs. 1000 Crore and South India...

5 days old Girl : Youngest PAN card Holder of India

5 days old Girl : Youngest PAN card Holder of India

Shortfall in tax collections is not negotiable. Short fall of Rs 1.36 lakh crore has to be recovered with extra efforts: CBDT Chairman

Shortfall in tax collections is not negotiable. Short fall of Rs 1.36 lakh crore has...

Proposal to abolish Tax Audit u/s 44AB: Advocates have written to PM for removing Tax audit and GST audit

Proposal to abolish Tax Audit u/s 44AB: Advocates have written to PM for removing Tax...

No Bogus LTCG as assessee is a habitual investor having portfolio of investment in shares in crores and is still holding investment in shares...

No Bogus LTCG as assessee is a habitual investor having portfolio of investment in shares...

Interesting Income Tax : Loss suffered during first year of business started with husband’s fund is to be clubbed entirely

Interesting Income Tax : Loss suffered during first year of business started with husband's fund...

Sale of software by NRI is taxable in India as Royalty Income ?

Sale of software by NRI is taxable in India as Royalty Income ? Short Overview : What...

Exchange Rates Notification No.05/2020-Custom(NT) dated 16.01.2020. [Effective from 17th January, 2020

Exchange Rates Notification No.05/2020-Custom(NT) dated 16.01.2020.