ITAT Delhi held that revision of assessment order unjustifiable as the assessment order cannot be considered to be erroneous and prejudicial to the interest of revenue.
The Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959 mandates public and certain private sector establishments in Delhi to notify vacancies. Individuals aged 14 to 45 can register online, while employers must submit quarterly returns. Exemptions apply, and penalties for non-compliance include fines and possible imprisonment.
Draft submissions regarding reasons recorded u/s 148(2) of the Income Tax Act, 1961 provide detailed insights into the legal implications of notice issuance and the necessity of furnishing reasons to the assessee. These submissions, accompanied by relevant case law, highlight the importance of procedural compliance and the consequences of non-compliance, aiming to ensure fair and just assessment proceedings.
Many Companies have multiple branches across various locations. The services which are availed by all the branches are usually invoiced or billed to a centralized location.
A Company though given a separate legal entity by the lawmaker needs assistant of different authorities and body corporates to build its compliance and regulatory structure, one of the authority is RTA stands for ‘Registrar and Transfer Agent’.
Income Tax Department is pacing with technology and now it has launched mobile application for AIS view. Now the taxpayer can view AIS within a click. The assessee can also provide feedback on information reflecting in AIS. The application launched is totally free of cost. AIS is Annual Information Statement in which Significant Financial transactions […]
The article discusses the establishment of the Internal Board of Settlement (IBS) under the Income Tax Act of 1961, its role in resolving tax disputes, and its impact on taxpayers. The article also highlights alternative settlement mechanisms available after the abolishment of the Income Tax Settlement Commission in India.
Linking your PAN card with Aadhaar is crucial for compliance, simplified tax filing, avoiding penalties, preventing tax evasion, and easy verification.
ITAT Pune held that order u/s 119 dated 27.09.2019 extending due date to 31.10.2019 in respect of cases covered under Explanation 2(a) to section 139(1) applies to HUF too. Accordingly, as return by HUF filed within extended time limit, deduction u/s 80IA(7) of Income Tax Act allowable.
Delhi High Court held that reasons provided for withdrawal of export shipments vis-à-vis letter requesting permission for withdrawal of shipments doesn’t co-relate. Further, letter for withdrawal of impugned shipments not produced before adjudicating authority. letter for withdrawal of impugned shipments rejected.
