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Income Tax : Explore Section 80JJAA of Income Tax Act, encouraging job creation in India. Learn about conditions, deductions, and benefits for ...
Income Tax : Explore the Bombay High Court's ruling on the invalidity of a reassessment notice under Section 148 of the Income-tax Act, 1961, f...
Income Tax : Learn about the consequences of filing your ITR incorrectly and claiming a full refund. Understand Section 133(6) of the Income Ta...
Income Tax : Get answers to FAQs on the new vs. old tax regime for AY 2024-25. Learn about the differences, benefits, and how to choose the bes...
Income Tax : Discover how AI is transforming tax compliance standards, automating tasks, detecting fraud, and enhancing efficiency. Learn about...
Income Tax : Understand tax deduction rules for dividends as per Income-tax Act, 1961 amendments. Detailed guide on TDS rates, exemptions, and ...
Income Tax : Release of File Validation Utilities (FVUs) and Return Preparation Utility for e-TDS/TCS Statements File Validation Utility (FVU)...
Income Tax : Discover the comprehensive list of 26 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated b...
Income Tax : Explore issues & solutions for appeals to Income Tax Commissioner. Detailed representation by Karnataka State Chartered Accountant...
Income Tax : Read the inaugural address from Ravi Agrawal, the new Chairman of CBDT, outlining his vision for enhancing tax administration in I...
Income Tax : Explore the detailed analysis of the ITAT Bangalore decision in Goworamma Lingappa Manjula Vs ITO. Understand the implications and...
Income Tax : Explore the ITAT Bangalore's decision in Lakshmi Multipurpose Co-operative Vs ITO regarding income threshold limits under Section ...
Income Tax : Delhi HC: No penalty for New Holland Tractors if assessee's contention was plausible and bona fide, provided full disclosure of fa...
Income Tax : Read the full text of the ITAT Bangalore order in Laxmilal Badolla Vs NFAC. Penalty under Sec 271D cancelled due to reasonable cau...
Income Tax : Learn how ITAT Bangalore ruled in favor of Herbalife India on technical service payments, clarifying FTS under India-USA DTAA. Det...
Income Tax : Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendme...
Income Tax : CBDT order allows delayed tax payments under DTVsV Act conditions, easing compliance for taxpayers. Details on Form-3 modification...
Income Tax : CBDT issued Notification No. 01/024-25-Income Tax dated 24th June 2024, specifying Form 3CN, Form 3CS, Form 3CEC, Form 3CEFB, Form...
Income Tax : Discover the impact of Notification No. 51/2024-Income Tax by the Ministry of Finance on the Kerala Co-operative Deposit Guarantee...
Income Tax : Explore suggestions from trade associations for Budget 2024-25 on changes in direct and indirect taxes. Submit proposals for tax s...
The enactment suffers from certain lacunae and loopholes of a vital nature. The predominant of all is this: The TDS requirement as mandated has, in terms, application to a case of transfer, ONLY if it is of ‘a building or PART OF A BUILDING ‘. Had, however, the legislative history not been over sighted by the North Block, it would have been realised that the term ‘part of a building” cannot rightly be regarded to cover within its ambit the not-so-independent ‘units’ of a building comprising flats or apartments.
Notification No. 57/2013 – Income Tax (1) These rules may be called the Income-tax (11th Amendment) Rules, 2013. (2) They shall be deemed to have come into force with effect from the 1st day of April, 2013. 2. In the Income-tax Rules, 1962,- (a) in rule 21AB, for sub-rules (1) and (2), the following sub-rules shall be substituted namely:- “(1) Subject to the provisions of sub-rule (2), for the purposes of sub-section (5) of section 90 and sub-section (5) of section 90A, the following information shall be provided by an assessee in Form No. 10F, namely:-
In view of extension of due date for filing of return of Income from 31st July, 2013 to 5th August, 2013 vide CBDT’s order under section 119 of IT Act in F.No 225/117/2013/ITA.II dated 31 .7.2013,
F.No. 225/117/2013/IT/Ulf Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi, the 31St of July, 2013 Order under Section 119 of the Income-tax Act. 1961 The Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income-tax Act, 1961, hereby […]
A copy of the irrevocable GPA executed in terms of paragraph 15 of the agreement has been furnished by the applicant. It authorizes the developer : (i) to enter upon and survey the land, prepare the layout plan, apply for renewal/extension of licence, submit the building plans for sanction of the appropriate authority and to carry out the work of development of a multi-storied residential complex,
As a Measure of Taxpayers Convenience, Last Date of Filing of Returns Extended to 5th August, 2013 There is an unprecedented surge in number of returns being e-filed during this year. 92.03 lakh returns have been e-filed up to 30th July, 2013 which is 46.8 % higher than the returns e-filed during the corresponding period […]
Today is the last date for Return Filing for the Assessee Including Individual, HUF, partnership Firm Etc whose Accounts are not required to be audited under the Income Tax Act or any other law and also for a working partner of a firm whose accounts are not required to be audited under the Income Tax […]
Overwhelming Response for e-filing from Every Corner of the Country; More than 82 Lakh Returns E-Filed till 29th July, 2013 which is More than 40% of the Returns e-filed during the Same Period Last Year; Record Peak of more than 85,000 Returns Per Hour Achieved . The due date for filing of Income Tax Return […]
There are Mobile applications which are not approved by the Income Tax Department. Users are advised that they may not be according to Department data structure. Filers using them are doing at their own risk. Source- Incometaxindiaefiling.gov.in
Addition u/s 68 of the Act was made by the Assessing Officer when the assessee himself offered to include this amount in his total income and consented to pay the tax. Another addition of Rs. 1 lakh was also made when the assessee voluntarily preferred to include Rs. 1 lakh to his total income.
