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Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the f...
Income Tax : Respondent/assessee is a Irish company. It accordingly claimed benefits of the India-Ireland DTAA. ADIR is a wholly owned subsidia...
Income Tax : In the matter abovementioned ITAT allowed appeal of the assessee for statistical purpose by way of remand after considering that a...
Income Tax : In the matter above-mentioned ITAT partly allowed the appeal filed by the assessee by remanded it back to file of TPO after consid...
Income Tax : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
DDIT vs. Safmarine Container Lines NV The Mumbai Tribunal in this case has observed that unless there is a specific language in the tax treaty which keeps the income from inland transportation in connection with international traffic outside the purview of Article 8 of the tax treaty, inland haulage charges would be considered as directly connected with operation of ship in international traffic and thus are not taxable in India.
Wockhardt Ltd. v/s ACIT – [2011] (Mumbai – ITAT) – The Tribunal has held that the services rendered by the non-residents should be in the nature of technical services and such services should make available technical knowledge, experience, skill or know-how, etc., that enables the recipient of services to apply the said technology independently in its business, so as to fall within the purview of “fees for included services” as per tax treaty with USA, UK, Canada. Failing this the payments will not be subject to tax in India.
Penalty under s 271FA – Failure to file annual information return — The penalty under s 271FA is leviable if the assessee fails to respond to the notice for failure of filing annual information return — as held by Gujrat High Court in Patan Nagrik Sahakari Bank Ltd v DIT(CIB); Special Civil Application No. 14675 of 2010, 22 April 2011
Shree Bhagawathy Textiles Ltd. v. Asstt. CIT – If the assessee has made a claim of deduction from this profit not enumerated in the clauses (i) to (ix) covered by Explanation to section 115JA, the assessment so completed based on the profit taken from the profit and loss account appropriation account submitted by the assesseee happens to be an apparent mistake which could having satisfied on the factual mistake committed by the assessing officer in the original assesment, rightly upheld the revised assessment issued under section 154 by reversing their earlier order.
The direct tax collections in Gujarat for FY-2010-11 stood at Rs 17,782.50 crore against the Rs 15,239.70 crore in a year ago period, showing a year-on-year growth of 16.69 per cent. The tax mop up was lower by little less than two per cent of the revised budgetary target allocation for the fiscal.
We have presented below the summary of all the notification. Instruction, circulars, budget amendments etc issued by government which have an effect on tds Provisions for the financial year 2010-11 and as well as on financial year 2011-12.
The deductors/collectors can register their TANs online. Authenticated access (through user ID and password) is provided to registered deductors/collectors. On login, the following feature are made available to the deductors/ collectors
Income Tax Department today said it has until now detected tax evasion to the tune of Rs 85 crore and seized Rs 28 crore unaccounted cash from individuals in the poll bound states. “The maximum cash — Rs 17.5 crore was seized from Tamil Nadu and (Union Territory of) Puducherry,” a CBDT official said.
ITR-1 SAHAJ, ITR 2, ITR 3, SUGAM (ITR-4S), ITR-4, ITR 5, ITR-6, ITR-7 in Hindi font for A.Y 2011-12 / Financial Year 2010-11. ITR- SUGAM (ITR-4S) in Hindi for A.Y 2011-12 Financial Year 2010-11 ITR-7 in Hindi for A.Y 2011-12 Financial Year 2010-11 ITR-6 in Hindi for A.Y 2011-12 Financial Year 2010-11 ITR-5 in Hindi for A.Y 2011-12 Financial Year 2010-11 ITR-4 in Hindi for A.Y 2011-12 Financial Year 2010-11 ITR-3 in Hindi for A.Y 2011-12 Financial Year 2010-11 ITR-2 in Hindi for A.Y 2011-12 Financial Year 2010-11 ITR-1 SAHAJ in Hindi for A.Y 2011-12 Financial Year 2010-11
Rane Brake Lining Ltd Vs ITO (ITAT Chennai) A perusal of the assessment order clearly shows that the Assessing Officer has not invoked the provisions of sec. 14A. In fact the Assessing Officer has pointed out that the total investment in shares as on 31.03.2003 was Rs. 26,00,31,694/- which included a sum of Rs. 5,28,82,350/- invested during the year. No dividend income has also been admitted during the relevant assessment year. A peRs.rusal of the order of the learned CIT(A) clearly shows that the assessee had put forward the plea that it had surplus and reserves sufficient to cover such investment in purchase of shares.
