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Archive: July, 2022

Posts in July, 2022

10 clarifications sought by Taxpayers while filing their Income-tax returns

July 30, 2022 8826 Views 1 comment Print

Unlock the mysteries of Income-tax return filing with answers to the top ten FAQs. Discover solutions to common issues, from self-assessment tax discrepancies to claiming deductions. Get insights on bank account validation for refunds and explore the process of opting for different tax regimes. Your comprehensive guide to a hassle-free tax filing experience

Representation In Respect to Due Date for Filing Income Tax Returns

July 30, 2022 16686 Views 1 comment Print

Bikaner Tax Consultants Association has made a representation to Union Minister of Finance, Chairman, Central Board of Direct Taxes and Revenue Secretary, Government of India on 29.07.2022 for extension of due date of Income Tax Returns (For Non-Audit Cases).  Relevant text of their representation is as follows:-   SUBJECT: REPRESENTATION IN RESPECT TO DUE DATE FOR FILING […]

Income Tax Department searches two business groups in Tamil Nadu

July 30, 2022 339 Views 0 comment Print

Income Tax Department carried out a search and seizure operation on 20.07.2022 on two business groups; one engaged in real estate, and the other in contracts related to road and railway construction.

Arbitral award set aside as awarded without any basis

July 30, 2022 606 Views 0 comment Print

Held that an arbitral award awarded without any basis and also without adjudication of the claims is unsustainable in law.

Non Resident and Types of transactions under FEMA

July 30, 2022 5604 Views 1 comment Print

Dive into the complexities of Non-Resident Persons and transactions under FEMA. Understand the distinctions between NRI and PIO, and explore the nuances of current account and capital account transactions. Unravel the regulations governing dealings in foreign exchange and gain insights into the permissible and prohibited transactions under FEMA.

All about – Foreign Direct Investment (FDI)

July 30, 2022 12207 Views 0 comment Print

Explore the intricacies of Foreign Direct Investment (FDI), including its definition, types, funding methods, routes, permissible sectors, and prohibited sectors. Unveil the details of capital instruments, settlement documents for remittances, and recent regulatory updates in line with the consolidated FDI Policy issued by DPIIT.

Whither Indian Democracy? Importance of Opposition In A Democracy.

July 30, 2022 1032 Views 0 comment Print

The role of the opposition cannot be minimized in democracy. The opposition is an inevitable and unavoidable condition of democracy not only should be accepted as constitutional, but must be preserved and perceived because it is indispensable.

Income Tax Guide for Beginners

July 30, 2022 3135 Views 0 comment Print

Taxation isn’t such a big deal as it’s made out to be either. Sure, it can get technical with deductions and tax planning, but learning is about small steps in the right direction. Not instant leaps to the end.

Waiver of loan amounts to cessation of liability other than trading liability

July 30, 2022 1281 Views 0 comment Print

The waiver of loan amounts to cessation of liability other than trading liability, thus, the said amount cannot fall under Section 28(iv) will not be applicable.

GST demand Recovery before Expiry of Time to file Appeal is Violation of Law

July 30, 2022 2781 Views 0 comment Print

GST demand Recovery without giving any opportunity to petitioner to file statutory appeal which is mandatory before initiating any recovery proceeding is clear violation of Section 78 of GST Act.

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