"I am Punyakoti Venkatesan, a retired IRS officer who completed govt. service in 2024 as a Joint Commissioner of Income Tax. I began my career with the Income Tax Department in 1987 and held various positions throughout my tenure, including Inspector of Income Tax, Income Tax Officer, Assistant Commissioner of Income Tax, Deputy Commissioner of Income Tax, and Joint Commissioner. My roles encompassed Corporate and Non-Corporate Assessments, Search Assessments, TDS Enforcement, Vigilance, Recovery, Investigation, and ultimately, as Joint Commissioner of Appeals. In addition to my extensive experience in income tax matters, I hold a BSc, a BL (Law), and a Master’s degree in Management (MBA) Contact,: 9003135645/9445467471 Email: venarun7@gmail.com "
Learn steps to rectify an incorrectly selected Income Tax Return (ITR) form during e-filing. Understand the implications and how to correct the mistake.
Find out whether the Income Tax Recovery Officer can attach a taxpayer’s overdraft or cash credit account for outstanding tax demands under Section 226(3) of the IT Act.
Explore the Bombay High Court ruling on reassessments under the Income Tax Act, clarifying jurisdiction between JAO and FAO in the Hexaware Technologies case.
Explore key insights on income tax reassessments in light of recent Supreme Court rulings, focusing on changes to procedures and time limits.
Learn about tax compliance for NRIs under Income Tax Act 1961, including residency classifications, deductions, and tax treatment on global and Indian income.
When a taxpayer submits their Income Tax Return (ITR) and requests a refund, they need to wait for the Centralized Processing Center (CPC) to process it. Currently, CPC processing is quite efficient, with an average turnaround time of 15 to 45 days from the date of e-verification of the ITR.
Explore why Foreign Tax Credit claims may be denied during ITR processing, including issues with Form 67, CPC guidelines, and legal interpretations.
Summary of cross appeals involving VAT disallowances under Section 43B for AY 2018-19, addressing accounting methods, CIT(A) decision, and case law reliance.
Understand the ITAT Chennai ruling on valid claims for Long-Term Capital Gains. Learn the tax implications of property sale, liabilities, and deductions under Section 48.
Explore the history and key adjustments under Section 143(1)(a) of the Income Tax Act, including recent amendments and CPC’s role in processing returns.
