Rental income from sub-letting is taxed as “Income from other sources,” not “Income from house property.” Deemed ownership rules apply to non-registered property owners.
Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance requirements for small taxpayers.
Punjab & Haryana HC rules arrest under Section 69 of CGST Act is invalid without tax determination under Sections 73/74. Case: Vishal Chauhan Vs Haryana GST.
Summary of key updates in Income Tax, GST, Customs, and SEBI regulations for the week of 19th-25th Aug 2024. Important clarifications and new guidelines.
ITAT Ahmedabad held that deduction under section 54 of the Income Tax Act towards Long Term Capital Gains admissible even when return is filed belated return of income under section 139(4) of the Income Tax Act.
Important dates for ICSI December 2024 exams, including enrollment, fee deadlines, and exemption criteria. Ensure compliance to avoid issues.
Boroplus Antiseptic Cream was a ‘medicated ointmnet’ and was liable to be taxed at 5% under ‘drugs and medicines’ in Entry 41 Schedule II in absence of specific evidence including expert opinions, industry standards, etc. to justify the reclassification.
Apply for inspection or certified copies of CS Exam June 2024 answer books via SMASH portal. Online applications open until September 24, 2024.
Appellate authority could not condone delay beyond four months under section 107 and this discretion conferred upon the appellate authority was restricted to condoning the delay only for a maximum period of one month.
AO was not justified in addition of interest expenses debited in the P&L account, a sum of Rs.2,12,94,836/- was capitalized towards CWIP under Section 36(1)(iii) of and added to the total income of the assessee.
