As against an order of acquittal passed by a Magistrate on a complaint, an appeal will lie only before the High Court, under Section 378 (4) of Cr.PC. In such cases, the complainant has to seek for Special leave under Section 378 (5) of Cr.PC.Since the decision rendered in S. Ganapathy V. N. Senthilvel ((2016) 4 CTC 119) was per- incuriam, the consequence of this judgement which had resulted in orders being passed and which had become final / acted upon by the parties, could never be allowed to be re-opened.
In practice in spite of reminders, many of our clients do not file Return of Income within the time specified u/s 139 (1) or before the end of relevant assessment year. Provisions of section 139(4) allow to file Return of Income, before the expiry of the relevant assessment year. Considering the provisions of section 139(1)/139(4), […]
Withdrawal of Provident Fund may attract Income Tax. The Income Tax Department recently told EPFO (Employees Provident Fund Organisation) to deduct Tax (TDS) from the withdrawal amount, if the withdrawal happened before completing five years of subscription. Tax officials have cited a rule in the 1961 Income-Tax Act that taxes PF withdrawals by employees before completing five years of contributions into the EPF is taxable.
All you need to know about TDS on Rent under section 194I of Income Tax Act, 1961. What is rent according to the section 194-I and the time limit within which tax is to be deposited?
A Hindu widow being the sole surviving member, cannot constitute a HUF. Gangamma Vs. Agl. ITO (1991) 188 ITR 1 (Ker.) After the Amendment in the Hindu Succession Act, in 2005, a Hindu Widow and her unmarried daughter can constitute a HUF, even when the widow had not adopted a son since, daughter is also a coparcener.
Gift is that thing which brings joy on anyone’s face. But at the same time it brings confusion in the mind of taxpayers as well since many people got confused as to which gift is taxable and which is exempt u/s 56(2)(X). Hence today I come up with this solution to your confusion.
Are you thinking of buying a house with the help of a home loan? If yes, then it is a good idea to calculate your EMI amount before signing on the dotted line. A useful tool such as the home loan EMI calculator can help you out with this. What Is a Home Loan EMI […]
The correct structure of TAN is as mentioned below: TAN structure is as follows: AAAA99999A: First four characters are letters, next 5 numerals, last character letter. Each tax deductor is uniquely identified by his TAN. If the TAN does not follow the above structure, then the TAN will be shown invalid. The first three characters represent the city or state where the TAN was issued. In the below table First three letter in TAN ‘BLR’ signifies that city in which TAN issued is Bangalore. The fourth character of the TAN is the initial letter of the tax deductor. Which Means name of the Tax Deductor starts with this letter.
The amount donated towards charity attracts deduction under section 80G of the Income Tax Act. Section 80G has been in the law book since financial year 1967-68 and it seems it’s here to stay. Several deductions have been swept away but the tax sop for donations appears to have survived the axe. The main features of tax benefit with respect to charity are as follows:
On 17th May, 2020, Finance Minister Nirmala Sitharaman announced that the govt. will bring in an ordinance introducing section 10A to suspend applicability of section 7, 9 and 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) for one year to stop companies from being forced into insolvency as a result of defaults owing to the COVID-19 global pandemic.
