ICAI Suggestion on Disallowance of expenditure incurred in relation to income not includible in total income under section 14A of the Act: As per the existing provisions of section 14A of the Act, no deduction shall be allowed in respect of expenditure incurred by a taxpayer in relation to income which does not form part […]
Definition of ‘total income u/s 2(45) refers to section 5 which envisages ‘scope of total income’. On a reading of section 5 of the IT Act, it would be evident that as per this section ‘total income’ is of any previous year and which includes income from
It has become a normal tendency to subject an Assessee to Penalty u/s 271(1)(c) in all cases where the Assessee refrains to file an appeal, with a hope to end the nightmare which began with selection of case for scrutiny by accepting the general additions in Assessment order.
The Central Bureau of Investigation has arrested a Superintendent and an Inspector, both working in Central Excise, Hyderabad in a bribery case of Rs.15,000/-
Recently, on www.incometaxindiaefiling.gov.in , assessee is compulsorily required to get its email ID and password registered. Further, maximum permissible usage of each of them is 4 times only. We know that most of the assessees in India do not have email ID. So, nowadays consultants have started to create additional email IDs. This takes substantial […]
