Join our free webinar on July 4th at 4:00 PM to gain insights into the dematerialization of securities and recent amendments. Register now for key updates.
Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.
The NRI diaspora often looks for the best investment opportunities in India. It probes about what, when, where, how and how many lingering benefits, such as return on investment, it brings along with. Certainly, the NRIs thoughts stick around tax reduction and income through interest. This article is enriched with some wise tax saving and […]
Govt. introduces Additional Reporting by Auditors of Charitable Trusts under the Maharashtra Public Trusts Act, 1950 to check Income Tax Compliances/Evasion. The Law and Judiciary Department, Maharashtra State, vide Notification Dated 15/05/2019, has framed the Bombay Public Trusts (Second Amendment) Rules, 2019, to introduce additional reporting by the Auditors of the Trust in Form IX-D, as under:
Taxpayers faced a lot of problem last year and even pensioners/ senior citizens paid late fees on late filing of returns. With a view to make tax system taxpayers friendly and cooperative, the due date of 31st July should be changed to 31st December, every year. The coming central budget(on 5 July 2019) may consider the above mentioned problems.
Penalty under section 271AAA could not be imposed on assessee on the ground that assessee failed to substantiate the manner in which undisclosed income was derived in case assessee had included the same in his return of income and accepted by AO without making any addition to the returned income.
ICAI has come out with this ‘Technical Guide on Annual Return & GST Audit’. This Guide has been comprehensively designed and contains clause-by-clause analysis of Form GSTR-9, 9A and Form GSTR -9C.
Demand of tax on advertisement from the petitioners after 1.7.2017 is held to be illegal and without jurisdiction. Notices of demand impugned in the petition are quashed and the amount, if any, of the advertisement tax deposited by the petitioners for the period 1.7.2017 onwards is directed to be refunded to the petitioners.
Interest of the investors has been shifting from direct equity investing to equity mutual funds over a few years. Though this is a welcome trend, there are certain mistakes which investors should avoid while making investments as well as while remaining invested in equity mutual funds. Let us discuss some of the major mistakes which […]
Assessee was not entitled to claim long term capital gain as exempt u/s 10(38) and the same was deemed to be income under section 69A as it was revealed that purchase and sale of shares were arranged transactions by assessee to create bogus profit in the garb of tax exempt long term capital gain by well organised network of entry providers with the sole motive to sell such entries to enable the beneficiary to account for the undisclosed income for a consideration or commission.
E-Tutorial on Important Information for 26QB Correction (Second Time), Brief steps for 26QB Correction (Second Time), 3. Description for Requested Status of 26QB Correction (Second Time), 4. Pictorial guide for 26QB Correction (Second Time) and Pictorial guide for Approval by Seller/Buyer for 26QB Correction (Second Time). 1. Important Information for “26QB Correction (Second Time)”. ♦ […]
Article explains Important Information for 26QB Correction, Brief steps for 26QB Correction, Description for Requested Status of 26QB Correction, Pictorial guide for 26QB Correction, Procedure for 26QB Correction with E- verified (Internet Banking), Pictorial guide for 26QB Correction with E-Verified (Internet Banking), Pictorial guide for 26QB Correction with DSC (Digital Signature Certificate), Pictorial guide for […]
