Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against the taxpayers for various offences. In this part you can gain knowledge about the various provisions relating to prosecution which can be launched under the Income-tax Act.
A resident taxpayer may have some taxation issues in respect of a transaction which has been undertaken or proposed to be undertaken with a non-resident. Similarly, a non-resident may have some taxation issues in respect of transaction which has been undertaken or proposed to be undertaken by him in India.
rticle discusses about Appealable orders in case of appeal by the taxpayer, Appealable orders in case of appeal by the Commissioner, Appeal not to be filed by the department in certain cases, Time- limit for presenting appeal, Form and signature, Memorandum of cross objection, Documents to be submitted with appeal, Fees for filing the appeal, Fees for filing the appeal in other cases,
The e-book Pratidhwani showcases policy initiatives and changes in Income Tax Department and growth of nation through the lens of Department’s outreach programmes during the period 2000 to 2022.
CBDT e-book Aarohan gives an overview of major reforms in Income Tax Department & showcases the contribution of different batches of Indian Revenue Service to tax administration since Independence.
ICAI issued Technical Guide on Financial Statements of Non-Corporate Entities The Institute of Chartered Accountants of India (ICAI) apart from issuing Accounting Standards for Non-company entities, always takes necessary initiatives to ensure effective and consistent application of these Standards. For the purpose of applicability of Accounting Standards to non-company entities, scheme for classification of non-company […]
Exposure Draft of Revised Guidance Note on CARO 2020 issued by the Auditing and Assurance Standards Board of ICAI The Auditing and Assurance Standards Board (AASB) of the ICAI had issued the ‘Guidance Note on the Companies (Auditor’s Report) Order, 2020‘ (Guidance Note on CARO 2020) in July 2020 to provide detailed guidance to auditors […]
Section 120(1) (2) and (5) of the Income-Tax Act, 1961 – Jurisdiction of Income tax Authorities Supersession of Notification No. 23/2021 dated 31st March, 2021– Notification No. 61/2022 – Income Tax | Dated: 10th June, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES), New Delhi Notification No. 61/2022 – Income Tax […]
No filing or Late filing of TDS returns or TDS statement shall invite 2 penal consequence 1.Fee for late filing U/s 234E and 2. Penalty for late filing or Non filing of TDS statement U/s 271H.
Gain arising on transfer of capital asset is charged to tax under the head Capital Gains. Income from capital gains is classified as Short Term Capital Gains and Long Term Capital Gains. In this part you can gain knowledge about the provisions relating to tax on Short Term Capital Gains.
