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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.
PCIT Vs Orchid Pharma Ltd. (Madras High Court) Employee’s contribution should be paid within the due date as provided in the related statutes to be allowed as deduction under Section 36(1)(va) of the Act. A Division Bench of the Kerala High Court in the case of CIT Vs. M/s.Merchem Ltd. [reported in (2015) 378 ITR […]
Dear readers, March the Closing Month for F.Y. 2019-20, which is very Important for Assessee from Income Tax Point of view. Income Tax Payer has to take many steps to save taxes like Investments under Section 80C/ Section 80D/ Section 80G, deposition of HRA and Investment documents with their employer so that minimum TDS is […]
Under Insolvency and Bankruptcy Code in respect of insolvency of Corporate Persons, the proceedings can be initiated by Financial Creditor, Operational Creditor or the Corporate Debtor himself. The method of initiating the proceedings and processes to be followed are different for each category of Creditor. In respect of Financial Creditor, the application for initiating Resolution […]
In view of the foregoing, the documentary material shown to us by the Respondent leads to the conclusion that the land in question would be categorized as a capital asset. Therefore, the assessee cannot claim the benefit of exemption to agricultural land and hence, the compensation received by the assessee in pursuance of land acquisition proceedings, is subject to tax and the refund has been rightly rejected,
Where return was revised under section 139(5), therefore, the original return filed under section 139(1) would not survive and hence, the claim of loss not made in original return but claimed in revised return had to be allowed.
Returns are nothing but a means of communication between the taxpayers and the authorities, through which the tax payer declares his tax liability and claims ITC on self-assessment basis and which later on becomes the basis of scrutiny and assessment by the department. Tax laws, including GST are based on the solid premise of trust […]
Please note that this article states the current position with respect to Composition scheme and is not a compilation of the law as existed at the time of introduction of GST and amendments made thereafter. Article contains FAQs on Composition Scheme under GST, Detailed Analysis of Sections, rules, forms, notifications, circulars and orders related to […]
