Income Tax : Explore Section 80JJAA of Income Tax Act, encouraging job creation in India. Learn about conditions, deductions, and benefits for ...
Income Tax : Learn about Deduction u/s 80JJAA: Who's eligible, how much is allowed, and what it means for additional employee costs. Expert ins...
Income Tax : Learn about tax deductions for new employee costs under section 80JJAA of the Income-tax Act, its eligibility criteria, and practi...
Finance : A company opting for special rate taxation under section 115BAA and 115BAB of the Act are exempt from paying MAT. Further, a compa...
Income Tax : Explore Section 80JJA of the Income Tax Act, 1961, offering deductions for businesses engaged in collecting and processing biodegr...
Income Tax : During the course of the survey operation, evidences of tax evasion have been gathered regarding wrongful claims of deduction u/s ...
Goods and Services Tax : Currently, a deduction of 30% is allowed in addition to normal deduction of 100% in respect of emoluments paid to eligible new emp...
Income Tax : ITAT Jaipur held that a one-day delay in filing Form 10DA could not defeat a Section 80JJAA deduction when the form was on record ...
Income Tax : The ITAT Bangalore held that the return of income and Form No. 10DA were filed within the prescribed due date of 30.11.2018. It di...
Income Tax : The Tribunal distinguished between lack of enquiry and inadequate enquiry, holding that Section 263 cannot be invoked merely becau...
Income Tax : The Mumbai ITAT found that the assessment order was passed without granting a reasonable opportunity to the assessee to furnish co...
Income Tax : ITAT ruled that deduction under Section 80JJAA could not be claimed where the business was acquired through amalgamation. The Trib...
Company Law : NFRA issues order penalizing CA Pawan Jain and Mis Kumar Jain & Associates for lapses in issuing reports under Income Tax Act for ...
Income Tax : Notification No. 8/2020-Income-Tax- CBDT has notified Other electronic modes by inserting New Income TAx Rule 6ABBA. It also amend...
Income Tax : Rule 19AB. Form of report for claiming deduction under section 80JJAA. Report of an accountant which is required to be furnished b...
Learn about tax deductions for new employee costs under section 80JJAA of the Income-tax Act, its eligibility criteria, and practical scenarios for claiming deductions.
A company opting for special rate taxation under section 115BAA and 115BAB of the Act are exempt from paying MAT. Further, a company, being a unit of an International Financial Services Centre (IFSC) and deriving its income solely in convertible foreign exchange, will be required to pay MAT at 9% (plus cess and surcharge as applicable
Explore Section 80JJA of the Income Tax Act, 1961, offering deductions for businesses engaged in collecting and processing biodegradable waste. Learn key provisions, background, and implications for businesses, contributing to environmental sustainability. Maximize benefits and enhance profitability.
ITAT Kolkata held that rejection of deduction claimed under section 80JJAA of the Income Tax Act on the basis of minor technical defect is unsustainable. Moreover, audit report has given complete clarity of the deduction.
Section 80JJAA of the Income Tax Act, 1961 is a deduction which an assessee can claim on the emoluments paid to new and incremental employees during the previous year.
Tangar Exports LLP Vs ACIT (ITAT Chennai) The Assessing Officer has made adjustment of total income computed in the intimation received u/s.143(1) of the Act, towards deduction claimed u/s.80JJAA of the Act, in respect of employment of new employees on the ground that the assessee has not satisfied conditions prescribed therein, including filing of audit […]
Learn about Section 80JJAA Deduction for employment of new employees. Find out how you can get a deduction of 30% of additional employee cost.
Section 80JJAA of Income Tax Act, 1961 provides deduction for the recruitment of new or additional employees. Section 80JJAA has been made available in the Income Tax Act to encourage employers to recruit fresh employees on a periodic basis. I am enclosing herewith the Format to calculate Deduction under Section 80JJAA of Income Tax Act, […]
Unlock tax benefits with Section 80JJAA! Learn who can claim, conditions, and examples. Discover how to calculate additional employee cost and the quantum of deduction. FAQs answered for clarity. Start saving on taxes today!
Essential conditions to claim deduction under section 80JJAA: (a) Business of taxpayer should not be formed by splitting up or reconstructing of an existing business; (b) Business should not be acquired by tax payer as a result of transfer from another person or on account of business reorganization;
