Income Tax : Understand tax audit requirements under Section 44AB for AY 2024-25. Detailed analysis for businesses and professionals, including...
Corporate Law : Explore the Prevention of Money Laundering Act (PMLA) in India, ED powers, and significant Supreme Court rulings impacting anti-mo...
Corporate Law : Understand the Hindu Succession Act's rules of inheritance for coparcenary property, including amendments for daughters' rights. L...
Corporate Law : Explore the new manufacturing norms (NMN) in India aimed at boosting SME growth. Learn about eligibility criteria, investment thre...
Income Tax : Explore the impact of Income Tax Sections 269SS, 269ST, 269SU, and 269T on transactions via Journal/Book Entries. Learn about legi...
Income Tax : Synopsis of the Representation by ‘Bhayandar CA Social Group’ made for extension of due dates – To the Finance M...
CA, CS, CMA : Vasai Branch of WIRC of ICAI is hosting Members Regional Convention on International Taxation-2012 to share knowledge of Basic P...
Income Tax : Explore ITAT Mumbai's order on sundry creditors from bogus purchases. Learn about tax implications, sections 68 and 41(1), and the...
Income Tax : All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) High Court held that respondent No.1 – Union of...
Income Tax : ACIT Vs M/s. Rational Handloom Co. Pvt. Ltd. (ITAT Mumbai) MAT on depreciation on write back of excess depreciation provided in ea...
Income Tax : Armoury International Vs ACIT (ITAT Mumbai) In this case, the assessee was observed to have made bogus purchases as per informatio...
Income Tax : ITAT Mumbai held In the case of Jayantilal Vaishnav HUF vs. JCIT that the reasonable cause u/s 273B need to be seen from the conte...
Understanding the new conditions for income tax exemption to registered charitable & religious Trust under section 11 of the Income Tax Act.
Understanding tax audit criteria normal and presumptive. Learn about the provisions under section 44AB and 44AD for beneficial taxation schemes.
Article explains Taxation of Cryptocurrency, Virtual Digital Assets, Non-Fungible Tokens under section Section 115BBH of Income Tax Act, 1961
An appeal is filed with the CIT(A) from Appealable Orders listed in Section 246A of the Act and the procedure in appeal before the CIT(A) and the powers of the CIT(A) are governed by Sections 250 and 251 of the Act respectively.
Important update for taxpayers: CBDT allows condonation of delay in filing Form 9A, Form 10, Form No. 10B & 10BB for AY 2018-19 and subsequent years. Circulars No. 15, 16, and No. 17 dated 19th July 2022 provide details and conditions. Stay informed for smooth compliance.
Stay informed about the Supreme Court of Indias recent decision unsettling the settled legal position on the mandatory or directory nature of submission requirements (Form 10B, Form 9, Form 10CCB, etc.) for claiming tax exemptions or deductions. Explore the impact of PCIT Vs Wipro Limiteds judgment, highlighting the need for strict compliance with exemption provisions. Learn about the principles of statutory interpretation and the evolving stance on filing audit reports for availing tax benefits.
Non filing of Form 10 within the prescribed time u/s 11(2) Exemptions are provided to Charitable & Religious Trusts 1) Unconditionally, u/s 11(1) of the Act to the extent it does not exceed 15% of the income from such property; 2) Conditionally, u/s 11(2) of the Act, without any upper limit on fulfillment of the […]
Synopsis of the Representation by ‘Bhayandar CA Social Group’ made for extension of due dates – To the Finance Ministry on 24-12-2021 We have not asked any extension of the due dates. We have asked for our fundamental right to be professionally engaged in the profession of the Chartered Accountancy by having seamless access to […]
Controversy on deduction of Employees’ contributions to Employees’ Provident Fund (EPF), superannuation fund and other welfare funds u/s 36(1)(va) and u/s 43B after amendment by the Finance Act 2021 As per section 2(24)(x) any sum received by the assessee from his employees as contribution to any provident fund or superannuation fund or any fund set […]
Every year the assessees, tax professionals and the tax departments play the game of ‘Due-Dates, Due Dates’. It has become a game of cricket in which the match is not decided until the last ball is bowled. For reasons attributable to all the stakeholders like tax professionals including assessees and the tax department, the due date of the compliance is rarely honored.
