Income Tax : Learn about key income tax benefits, exemptions, and filing relaxations available to senior and very senior citizens under the Inc...
Income Tax : This guide explains the concept, calculation formula, and notified values of CII from 2001-02 to 2025-26, as per CBDT. A must-read...
Income Tax : Discover the evolution of income tax in India, from ancient texts like Manusmriti to modern reforms, including changes in tax slab...
Income Tax : Explore the intricacies of capital gains on Joint Development Agreements (JDAs) and the exemption under Section 54 of the Income T...
Income Tax : Provisions of section 28 of Income Tax Act, 1961 specify income chargeable to income tax under ‘Profits and gains of business or...
Goods and Services Tax : TaxGuru, GST Professionals and Govt. of India (Ministry of M.S.M.E) announces its Online GST Course Covering whole Gamut of GST an...
CA, CS, CMA : We at Taxguru Wishes all our Readers, Staff, Panel Authors, Freelancers, Technical Support Team, Sales team, Editorial Team and Th...
CA, CS, CMA : In a series of attacks on Chartered Accountants latest is been alleged by A CA from Pune that he has been slapped by a Service Tax...
Income Tax : CA Sandeep Kanoi After protest from all over India partial extension by CBDT, Dr. Hasmukh Adhia who took over as Revenue Secretary...
Income Tax : In this article we have compiled the details of release of Schema of ITR Forms for AY 2015-16 , Schema of Forms (Other than ITR), ...
Income Tax : Hon'ble SC held that Making a claim which would prima facie disclose that the expenses in respect of which deduction has been clai...
Income Tax : It is not in dispute that the period during which interim stay of the order passed by the court is in operation has to be excluded...
Income Tax : The initial assessment year has been defined and the expression or' has been used in respect of new units by stating commences op...
Income Tax : Where no question was asked during statement recorded under section 132(4), in respect of manner of earning income surrendered, as...
Income Tax : We understand that in case of search, assessee is to comply with law and various declaration and formalities which certainly take ...
Income Tax : The Karnataka State Chartered Accountants Association ('KSCAA') has Fled a representation dated 15.09.2015 in Central board of Dir...
Income Tax : Vide its order dated 30.09.2015 CBDT has extended due date only for the state of Haryana, Punjab , Union Territory of Chandigarh a...
Income Tax : It has been brought to the notice of the Government that a fake order dated 26th September 2015 supposedly under section 119 of th...
Income Tax : Notification No. 32/2014-Income Tax Form of return of net wealth. — (1) The return of net wealth referred to in section 14 shall...
In the case of Vishal Garg & Ors. Vs. Union of India & Anr., Punjab & Haryana HC instructed CBDT extend due date of Tax Audit cases to 31st October 2015 from existing 30th September 2015. Its not clear if the due date for non audit cases also been extended
D.C.I.T. Vs. Sunita Khemka (ITAT Kolkata)- AO has treated the transactions as bogus only on the basis of the suspicion that the difference in purchase and sale price of these shares are unusually high. It is a settled law that assessment cannot be made on the basis of suspicion or surmise.
Dhimant Hiralal Thakar vs CIT (Bombay High Court)- Eyes are thus essential not only for the purpose of business or profession but for purposes other than these which are so many. It is therefore clear that the said expenditure as claimed by the applicant is not in the nature of the expenditure wholly
In a series of attacks on Chartered Accountants latest is been alleged by A CA from Pune that he has been slapped by a Service Tax Official when he visited his office with his Assistant and client in respect of reset of password of his clients Service Tax Account on online portal of Service Tax Registration.
Articles explains Rates of income-tax in respect of income liable to tax , Minimum Alternative Tax Rate, Securities Transaction Tax (STT), Commodities Transaction Tax (CTT) and Dividend Distribution Tax (DDT) Rates for Financial Year 2015-16 i.e. Assessment Year 2016-17.
Section 35F of the Act has retrospective operation and is not restricted to only prospective It applies to all lis which have commenced prior to or after the enforcement of the amendment, except to cases covered under the second proviso thereof.
CA Sandeep Kanoi Social Media is a term which is very frequently used nowadays and been considered as a powerful weapon, which has the capacity to bring changes. In this Article I have discussed in a brief about Social Media and its role in extension of Due Date of Income Tax Returns from 31.10.2015 in […]
From Last Few days I was updating the status of Writs filed in various High Courts in India for extension of Due date of Income tax Return and tax Audit Report, which were falling due on 30th September 2015. In all these appeal, some high courts has ruled in favour of Assessee, Some has ruled against the Assessee, Some are yet to decide and some left the issue at the wisdom of CBDT. So the final status of all high courts in which appeals been filed on the issue as per my knowledge is as follows:-
CA Sandeep Kanoi After protest from all over India partial extension by CBDT, Dr. Hasmukh Adhia who took over as Revenue Secretary, Ministry of Finance, Government of India on 01.09.2015 has tweeted on his twitter handle that Because of so many legal verdicts by different courts, we have extended time of filing of audited tax […]
The Karnataka State Chartered Accountants Association (‘KSCAA’) has Fled a representation dated 15.09.2015 in Central board of Direct Taxes (CBDT) seeking extension of date for filing returns from 30th, September. 2015. Subsequently KSCAA flied a PIL In Honble Karnataka High Court seeking intervention of Court in this matter.
