Time to Revisit the Conventional Coercive Recovery Measures of Tax Collection by Revenue Authorities!! As per the existing Legislative framework of the Direct Taxation Laws in our Country, the tax collection measures can broadly be classified into Pre-Assessment tax collection measures and Post Assessment tax collection measures. The pre-...
ITO Vs Mukesh Champaklal Shah (ITAT Pune) -
ITO Vs Mukesh Champaklal Shah (ITAT Pune) The definition of capital asset excludes agricultural land and certain criteria have been placed in this statue to qualify the land as agricultural land. The facts on records demonstrate that both the parties have accepted the land to be an agricultural land. The 7/12 extracts clearly demonstrates...
Circular No. 18/2019-Income tax -
08/08/2019
After notification of the ITR forms various queries have been raised by the stakeholders in respect of filling-up of the ITR forms. In order to address such queries, following clarifications are issued. —...
Circular No. 17/2019-Income Tax -
08/08/2019
CBDT Further Enhances Monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/appeals before Supreme Court - Amendment to Circular 3 of 2018 - Measures for reducing litigation....
Circular No. 24/2019-Customs -
08/08/2019
Clarification regarding applicability of All Industry Rates of duty drawback while fixing Brand Rate of duty drawback in post GST era. Circular No. 24/2019-Customs...
Allahabad Bank invites applications in prescribed format from practicing firms of Chartered Accountants of India who are willing to empanelled as Concurrent / Revenue Auditor...
The Finance Bill 2018 reintroduced tax on LTCG made from listed shares and equity-oriented mutual funds. With Effective 1 April 2018, LTCG arising from the sale of these shares and equity oriented funds that are held for more than 12 months are taxable at the rate of 10% if such LTCG exceeds Rs.1 lakh in the given Financial […]...
The last date for filing Income Tax Return is July 31st of every year (Extended up to 31st August 2019 for Assessment Year 2019-2020 and with few certain exceptions as provided above), which can be belatedly filed up to March 31. For example, Income Tax Returns for Assessment Year 2019-20 (Financial Year 2018-2019), can be filed belated...
The ITO(Exemption) Vs M/s Vidya Bharti Samiti (ITAT Jaipur) -
Sharing of the profit or income under the agreement between the parties and assessee and 80% of the income was going to the commercial entities clearly established the intention of the parties in this arrangements being for profit were not solely for providing education, therefore, the benefit of Section 10(23C)(iiiad) was not available t...
If you are already an existing home loan user or applying for one soon, you must be aware that EMIs consume a large portion of your earnings. You have to manage these EMIs well before even signing the agreement. You should ensure the EMIs do not dent your expenses. Therefore, lenders have the home loan […]...