tax return

SUMMARY OF CASE LAW The limited scope of enquiry of the TRO while proceeding to exercise his jurisdiction under Rule 11 may be akin to the scope of enquiry under Order XXI Rule 58 of the Code of Civil Procedure, 1908 (as it stood prior to 1976 amendment), but that does not take away his [...] Full Article

The process of electronically filing Income tax returns through the internet is known as e-filing and is meant to ensure saving of time and paperwork for taxpayers. It is mandatory for companies and Firms requiring statutory audit u/s 44AB to submit the Income tax returns electronically for AY 2009-10. E-filing is possible with or without [...] Full Article

On 18th June 2009 the Government of Maharashtra has passed the Maharashtra Value Added Tax (2nd Amendment) Rules 2009 These amendments are brought into effect from 1st July 2009 unless otherwise specified. Following are the amendments which are made in the MVAT Rules: -  Full Article

Limited liability partnerships (LLPs) have been the flavour of corporate jurists all over the world in the past 15 years. The concept looked attractive. India passed the Limited Liability Partnership Act in 2008, providing the legal framework for the formation of LLPs. The Act came into force on April 1, 2009. The tax aspect has [...] Full Article

Wrong selection of ITR :- One may sorely miss the old ‘one size fits all’ SARAL forms for the sheer ease and convenience of filling up the one page return, but they were not e-friendly. It was also cumbersome to attach a whole lot of supporting documents and spend a day away from the office [...] Full Article

Due date of July 31 fast approaching, it is that time of the year again when the nation’s tax payers scramble to file I-T returns. After all, filing of tax return is compulsory for everyone whose gross total income exceeds the basic exemption limit. For financial year 2007-08, for instance, the basic exemption limit was [...] Full Article

Background In a recent ruling in the case of Punjab Financial Corporation (“the assessee”)1, the Punjab and Haryana High Court (“the Court”) held that credit for withholding tax (“WHT”) would be available in the same proportion in which the parties share the income under the provisions of section 1992 of the Income Tax Act, 1961 [...] Full Article

Tax payers will now be able to lodge their grievances with the taxman at the click of a mouse, with the launch of an online complaint redressal mechanism on the lines of the existing e-filing facility of tax returns. Full Article