"10 April 2021" Archive - Page 3

ITAT deletes addition as AO was not clear on taxability of transaction

Devender Kaur Vs ITO (ITAT Jaipur)

Devender Kaur Vs ITO (ITAT Jaipur) In the instant case also, the AO has failed to conduct any enquiry and bring any material or fact to establish that the assessee has initially acquired the property in question at the time of Power of Attorney dated 3.1.2008 and subsequently sold the same vide sale deed dated 23.09.2009 […]...

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No penalty on both organisation & office bearers for same omission

Sikar Ex-Serviceman Welfare Co-operative Society Ltd. Vs Commissioner Central Excise and Service Tax (CESTAT Delhi)

Sikar Ex-Serviceman Welfare Co-operative Society Ltd. Vs Commissioner Central Excise and Service Tax (CESTAT Delhi) The final submission of appellant is that once the penalty has been imposed upon an organisation, simultaneous imposition of penalty on the office bearers thereof, is not sustainable. We observe in view of the definition of ...

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Sunny Leone Purchased a Flat in Mumbai for Rs 16 Crore

Bollywood actress Sunny Leone  has recently purchased a flat in Andheri, Mumbai  for Rs 16 crore. Flat is measuring 4,365 Sq. Ft. Stamp Duty of Rs 48 Lakh was paid. The apartment is on 12th Floor in an under-construction project named ‘Atlantis’ being developed by a realtor named Crystal Pride Developers. The flat has three ...

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Posted Under: Income Tax |

Rule 12 of Income Tax Rules wef 01.04.2021 | ITR | AY 2021-22

Taxguru Team compiled Rule 12 of Income Tax Rules considering amendment vide Notification No. 21-2021/Income Tax Dated 31st March, 2021 for ready reference of our readers. Changes are Marked in Red Coloure. Revised Rule 12 of Income Tax Rules are applicable from 01.04.2021  i.e. for Income Tax Return of Assessment Year 2021-22 and Financ...

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Posted Under: Income Tax | ,

How to Apply for Redressal of Grievances on traces website for deductee’s

Only a Registered Taxpayer can avail the facility of raising Request for Resolution under Online grievances module. Request for Resolution can be raised for Part A & Part B of Form 26AS. Request can be raised only against a single TAN of Deductor/ Collector in one ticket. To raise Request against multiple TANs, Taxpayer must raise differ...

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Posted Under: Income Tax |

Equalization Levy under Finance Act 2016

Q.1 What is equalization levy (EL)? Ans: This is a tax leviable on consideration received or receivable by a non-resident for any specified service such as online advertising, any provision for digital advertising space or any other facility or service for online advertising @ 6% from : i) A person resident in India and carrying […...

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Posted Under: Income Tax |

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