whether the tribunal was right in coming to the conclusion that the Assessing Officer has not recorded his mandatory satisfaction as required under Section 14A(2) of the Act?
whether the non-filing of prescribed Form No.62 for the third Assessment Year is restrict the Assessee to carry forward losses under Section 72A of the Income TaxAct, 1961?
India’s overall exports (Merchandise and Services combined) in April-July 2020-21* are estimated to be USD 141.82 billion, exhibiting a negative growth of (-)21.99per cent over the same period last year. Overall imports in April-July 2020-21* are estimated to be USD 127.76 billion, exhibiting a negative growth of (-) 40.66per cent over the same period last year.
Whether upward adjustment to book profit under section 115JB of the Act, by treating the loss on purchase and redemption of mutual funds as expenditure relatable to earning exempt income is justified in law?
ITO Vs Ajmer Vidhyut Vitran Nigam Ltd (ITAT Jaipur) Exception 10(e) to the aforesaid CBDT Circular relates to cases where addition is based on information received from external sources in the nature of law enforcement agencies such as CBI/ ED/ DRI/ SFIO/ Directorate General of GST Intelligence (DGGI). In the instant case, the assessee has […]
The CBDT has carried out several major tax reforms in direct taxes in the recent years, which includes the following: (i) Reduction in corporate tax to 22% from 30% for existing companies and 15% for new manufacturing units. (ii) Abolition of dividend distribution tax (iii) Simplification of compliance norms for startups (iv) Settlement of pending […]
Startup: Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities. Who can be registered as Startup? Private Limited Company Registered Partnership Firm limited liability partnership (LLP) Note: […]
ईमानदार करदाताओं को प्रोत्साहन और कर प्रणाली में पारदर्शिता बढ़ाने के लिए प्रधानमंत्री नरेंद्र मोदी ने एक नए और महत्वपूर्ण प्लेटफॉर्म की शुरुआत की इस प्लेटफॉर्म का नाम ‘ट्रांसपैरेंट टैक्सेशन: ऑनरिंग द ऑनेस्ट’ दिया गया है. इस अवसर पर प्रधानमंत्री नरेंद्र मोदी ने कहा कि ये प्लेटफॉर्म 21वीं सदी के टैक्स सिस्टम की शुरुआत है, […]
A reliable Point-of-Sale system helps you run your business effectively, smoothly, and quickly. The POS system is used by retail business owners to simplify their business operations and streamline customer touchpoints. If you want to offer your customers a seamless experience, reduce operational costs, and increase revenue and profits, you should invest in the right […]
Section 115BAA was introduced by way of a mid year budget in FY 2019-20 and is applicable to certain domestic companies from 1st April 2020. The new section gives a one-time option to Domestic Companies to pay tax on their taxable income at 22% (instead of 25%/30%) and additional surcharge of 10% irrespective of taxable […]
