Income Tax : Learn about rectifying mistakes in income tax orders under Section 154, including types of rectifiable orders, responsible authori...
CA, CS, CMA : Discover the complexities of tax compliance for freelancers and gig workers, from understanding income sources to navigating legal...
Income Tax : Understand the penalty for failure to furnish income tax return. Learn about the increased late fees and provisions under Section ...
Income Tax : I have covered only relevant compliances/information useful for Small Manufacturer, Traders only through this article which includ...
Income Tax : While filing your income tax return within due date is important, it does not mean that if for any reason you missed the dead line...
Income Tax : The Finance Bill, 2017 proposes to levy fees of Rs.5,000 in case where return is furnished after the due date but on or before 31S...
Income Tax : ITAT Rajkot sets aside CIT(A)'s ex parte penalty orders against Sunita Ashokabhai Sharma due to incorrect email service by tax dep...
Income Tax : Bombay High Court held that department have acted contrary to the SOP under section 144B of the Income Tax Act violating the princ...
Income Tax : ITAT Raipur held that entire addition of transaction in the hands of assessee under section 69 of the Income Tax Act as unexplaine...
Income Tax : Penalty imposed under section 271(1)(b) for non-compliance with a notice during the Covid-19 pandemic was deleted due to disruptio...
Income Tax : ITAT Chennai set aside the order and appeal restored back to the file of AO for denovo assessment, however, cost of Rs. 5,000 impo...
ITAT Bangalore held that penalty under section 271F of the Income Tax Act leviable as assessee being a habitual defaulter filed income tax return for four years filed belatedly
Kanhaiya Lal Lalwani Vs ITO (ITAT Jaipur) It is noted that the cost of acquisition of plot as per the assessee was Rs. 555/- purchased on 16-04-1999 and thereafter addition/ improvement of Rs.3,41,000/- was made. In my view, if these benefits were allowed to the assessee then in that eventuality the capital gain arose on […]
Assessee has shown reasonable cause for not filing the return of income before due date of return. ITAT direct AO to delete penalty levied under Section 271F
Held that penalty u/s 271F leviable as the assessee being a co-operative bank failed to furnish annual information annual information return
Sudhi Jain Vs ITO (ITAT Cuttack) Assessee has filed her return of income at one place i.e. at Kolkata under her PAN A****2218B and the transactions done under PAN A****6846F are also duly reported and disclosed in the said return of income. No doubt has been shown by the revenue authorities on this contention of […]
Assessee contended that CIT(A) erred in confirming levy of penalty under section 271F of the Income Tax Act, 1961 of Rs. 5,000 for failure to file return of income in response to the notice issued under section 148.
Kamla Chandrasingh Kabali Vs ACIT (ITAT Mumbai) ITAT find that the claim of the assessee that she has declared income under the IDS 2016 cannot be a tenable explanation as the declaration was not supported by payment of due taxes on the income declared and, therefore, it was an invalid declaration. No other reasonable cause […]
ACIT Vs Metric Stream Infotech (India) Pvt. Ltd. (ITAT Banglore) There is a categorical finding returned by Ld.CIT(A) that assessee was unable to get loan from Citibank for meeting the expenses and Citibank also refused to extend the loan. Subsequently assessee was waiting for funds from the principle which was received only after 31/03/2013 by […]
Understand the penalty for failure to furnish income tax return. Learn about the increased late fees and provisions under Section 234F of the Income Tax Act.
I have covered only relevant compliances/information useful for Small Manufacturer, Traders only through this article which includes TDS Rate, TDS Return, TDS Certificate and TDS payment due dates, Advance Tax due dates, Income Tax Return Due Dates, Penalty for Late Return Filing, Important Income Tax Deductions, Presumptive Taxation Scheme, Tax Audit and Maintenance of Books.
