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Archive: 07 January 2025

Posts in 07 January 2025

Step-By-Step Guide to DPIIT Registration for Start-Ups

January 7, 2025 1266 Views 0 comment Print

A guide to DPIIT registration for startups, including eligibility, application process, document requirements, and benefits like tax exemptions and IPR support.

Checklist for Foreign Businesses Entering the Indian Market

January 7, 2025 1140 Views 0 comment Print

Learn how foreign companies can set up business in India through subsidiaries, joint ventures, or mergers. Understand ROC, FEMA, and tax compliance requirements.

Addition set aside as satisfaction note required for invoking section 153C invalid

January 7, 2025 453 Views 0 comment Print

Among the documents seized contained information pertaining to the Assessee and AO recorded his satisfaction that those documents have bearing on the determination of total income of the Assessee.

The Functionality of SIP Calculators and Their Key Benefits

January 7, 2025 420 Views 0 comment Print

Investing in mutual funds through a Systematic Investment Plan (SIP) has become a popular choice for investors aiming to achieve their financial goals. However, understanding how much you need to invest regularly to meet your goals can be a challenge.

Review of non-taxability of interest from FDRs as exempt as part of Corpus Fund u/s 11(1)(d) was remanded back to AO

January 7, 2025 315 Views 0 comment Print

The matter was remanded back to AO to review the non-taxability of interest from Fixed Deposit Receipts (FDRs) as part of the Corpus Fund under Section 11(1)(d) and and the decision of CIT(E) in respect of the condonation application in filing Form 10B belatedly.

Notice u/s 143(2) was invalid as the same issued by another AO to whom jurisdiction was transferred much later

January 7, 2025 1101 Views 0 comment Print

Assessee claimed to have submitted details / documents / explanation as required by AO for the purpose of assessment in the case of assessee under section 143(3) during the course of assessment proceedings.

Order suspending CHA License set aside since CBLR violation not proved: CESTAT Chennai

January 7, 2025 279 Views 0 comment Print

CESTAT Chennai held that order suspending CHA License set aside since proof regarding violation of Customs Broker Licensing Regulations, 2018 [CBLR] not available. Thus allegation not proved and hence CHA License restored.

Non mentioning of proper service of notice in order: ITAT remanded matter to CIT(A)

January 7, 2025 372 Views 0 comment Print

The assessee earned income from selling milk and filed her return for AY 2017-18 declaring income of Rs.1,78,110/-. The case was selected for limited scrutiny with the reason of “large value cash deposits during demonetization period as compared to returned income”.

Final Assessment Order passed despite pending objections before DRP: Delhi HC sets aside the Order

January 7, 2025 267 Views 0 comment Print

Show cause notice u/s 148A(b) was issued for AY 2022-23 calling upon the assessee to show cause as to why the receipts should not be taxed as interest income during the year under consideration. Response was submitted by the assessee.

Latest Updates on Section 115BAA for Lower Corporate Tax Rates

January 7, 2025 5046 Views 0 comment Print

Learn about Section 115BAA of the Income Tax Act offering reduced corporate tax rates, conditions for eligibility, effective tax rates, and MAT implications.

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