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Income Tax : Explore Budget 2024-25's Section 194T, mandating 10% TDS on payments exceeding Rs. 20,000 to firm partners, effective April 2025....
Income Tax : Explore the 5 key proposals in capital gains taxation introduced in Budget 2024. Learn about changes in exemption limits, tax rate...
Income Tax : Explore the controversial changes in capital gains tax introduced in Budget 2024. Understand the impact on investors and real esta...
Income Tax : जानिए भारतीय आयकर अधिनियम 1961 की धारा 194T के तहत साझे�...
Income Tax : CBDT's notification no. 27/2024 dated 05.03.2024 introduces several key amendments to Form 3CD, effective from AY 2024-25, impacti...
Income Tax : Punjab Accountants Association urges Finance Minister to amend Section 43(B)(h) for MSMEs, proposing better payment timelines and ...
Income Tax : Finance Bill 2024 proposes an amendment to Section 55 of the Income Tax Act to clarify the computation of cost of acquisition for ...
Income Tax : Budget 2024 extends the scope for lower deduction/collection certificates under Sections 197 and 206C, effective from October 2024...
Income Tax : Budget 2024 introduces provisions for exempting or reducing TCS on certain transactions. Effective from October 2024....
Income Tax : Budget 2024 reduces penalty relief period for TDS/TCS statement filing from one year to one month. Changes effective April 2025....
Income Tax : Delhi High Court held that the receipts from Indian customers for services provided outside Indian Territory, in connection with u...
Income Tax : Jharkhand High Court held that the delay in filing the appeal without any condonation of delay application is a defective one and ...
Income Tax : Bombay High Court held that upto 1 April, 2005, the expression ‘built up area’ would exclude the balcony area and are not to b...
Income Tax : ITAT Chennai held that addition towards on-money sale amount based on the third-party statement without any cogent positive eviden...
Income Tax : ITAT Delhi held that addition on account of unexplained money under section 69A of the Income Tax Act unjustified as revenue faile...
Income Tax : Explore Notification No. 96/2024 by the Ministry of Finance, detailing income specifics for SAMEER Mumbai under Income Tax Act Cla...
Income Tax : Notification 95/2024 exempts Himachal Pradesh State Load Despatch Centre specified income from tax, effective for AY 2021-2024, wi...
Income Tax : Explore Income Tax Notification No. 94/2024 dated 24th July, 2024, detailing tax exemptions for Punjab Skill Development Mission S...
Income Tax : Finance Minister Nirmala Sitharaman introduced the Finance Bill 2024 and the Final Budget for the fiscal year 2024-25 in the Lok S...
Income Tax : Read about the latest income tax notification specifying AIMCo India Infrastructure Pension Fund for tax exemption under section 1...
conditions for grant of exemption up to Rs.15,000 per employee towards medical reimbursement paid by the Assessee satisfies conditions contemplated by the proviso (v) to Sec.1 7(2) of the Act, can the AO deny the relief under the proviso (v) to Sec.17(2) of the Act?
As per verbal talk with the CA Swadesh Gupta, a counter affidavit was filed by CBDT in high court stating that there were no service validation error, so we require evidence to prove that there were service validation errors in ITR and Tax Audit Report Filing.
CA Haresh N Mehta Can you allow anybody to give untested medicines to Citizens of India? Can you allow anybody to serve half-cooked food to public at large? This is exactly what our beloved Government Departments are doing. They are releasing various forms & e-filing templates which are like half cooked food & which is […]
During the year only an amount of 4 lakh was invested out of the total investment of 3.39 crores. In the earlier years the assessment of the assessee were completed u/s 143(3) and the AO did not make any disallowance u/s 14A. The term loan taken by the assessee was for specific purposes and it cannot be alleged without proof that the term loan granted by the bank for specific purposes,
Late submission of ITR-V: a tool to avoid scrutiny? Advocate C.P. Chugh explains the benefits and drawbacks of extending the date for filing ITR-Vs.
F. No. HRD/AD/870/4/2008-09/2868 – Dated : 14/10/2013 In supersession of earlier order vide F. No. HRD/AD/870/04//2008-09/1070 dated 02.07.13, under mentioned officers are designated as Central Public Information Officers (CPIOs) and first appellate authority in the different divisions of the office of Directorate of Income Tax (Human Resources Development) with immediate effect and until further orders.
Proviso to Section 112(1) is applied, then almost all assessees covered by the first proviso to Section 48 would be liable to pay tax @ 10% only and not @ 20% on long-term capital gains. The proviso to Section 112(1) is applicable to units and zero coupon bonds, which are not covered by the first proviso to section 48 of the Act.
Whether expenditure incurred to meet out the need for working funds in which expansion of share capital was undertaken, is capital expenditure even when the purpose for which expenditure was incurred did not result in creation of an asset or benefit due to intervention by an external agency.
Whether the advances made by one trust to another trust registred u/s 12A of the Act and used by that trust for charitable purpose would qualify for exemption u/s 11 of the Act by the first trust irrespective of accounting treatment followed?
It is noticed that this expenditure was incurred as a professional fees to defend two directors of the assessee company who were arrested under NDPS Act on being found guilty of the offences under the relevant sections of the said Act.
