Do not forget these Incomes generally omitted while filling income tax return Since significant number of salaried people file their income tax return themselves and thus may some commit some omissions not with any intention but due to sheer ignorance of the law. Based on my experience of practicing as a Chartered Accountant, I wish […]
Jamshedpur Chartered Accountants Society has made a representation to FM requesting for extension of Due Date of filing of Tax Audit and Income Tax Return for Assessment Year 2020-21 due to COVID 19 Pandemic. Date: 16/12/2020 Smt. Nirmala Sitaraman Hon’ble Finance Minister, Ministry of Finance. Government of India, North Block, New Delhi 110 001 Request […]
Respected PM Sir and FM madam, I append below a write up for benefit of revenue by increasing scope and properly managing ‘Direct Tax Vivad Se Viswas Act, by accepting amount under declaration to settle all lost disputes of revenue- whether challenged by revenue or not and by accepting payment in advance with some early […]
Exclusive email ID- ‘feedback.notice.neac@incometax.gov.in’ enabled to register grievance regarding Section 142(1) notices (including roving questionnaires) issued under the Faceless Assessment Scheme 2019. The grievances received in the said email shall be closely monitored by a team of officials at National e-Assessment Centre.
Direct Taxes Committee of ICAI has Request(s) for extension of various due dates under Income-tax Act, 1961 especially Tax Audit Reports and related returns including Income Tax Return Forms for AY 2020-21 to Chairman, Central Board of Taxes. Full text of the Representation is as follows:- Request(s) for extension of various due dates under Income-tax […]
The ‘fixed establishment’ could pose yet another challenge to the ‘One nation One tax’ theory unless more clarity is brought to the definition similar to (or even better than) ‘Permanent Establishment’ defined under the Income Tax Act, 1961 read with DTAAs entered into with various countries.
Despite the Guidelines and SOPs issued, for lack of implementation the Pandemic has spread like wild fire. A strict and stern action should be taken against those who are violating the Guidelines and SOPs, whoever he may be and whatever position the violator is occupying.
Senior citizens in every country are given special treatment in various forms. In India senior citizens are given concession in train tickets, medical expenses cost etc. Similarly senior citizen are given special benefits under Income Tax Act as well. In this article we will understand meaning of senior citizen and various benefits available to senior […]
Deputy Conservator Of Forests Vs. Timblo Irmaos Ltd. & Ors. (Supreme Court) The law on Delay Condonation does not differentiate between Government & private party- Mst. Katiji & Ors., AIR 1987 SC 1353 out dated due to technological advancements. The Apex Court has been repeatedly reiterating that the Government cannot take the plea of differential […]
Bangalore Turf Club Ltd. Vs ACIT (ITAT Banglore) Assessing Officer argued that the Finance Act, 2001 has inserted the words ‘card game or other game of any sort’ in Section 194B of the Act which will even cover the “stake money” which is otherwise not covered by Section 194BB of the Act. We find that […]
