Allahabad High Court quashes Section 263 order and imposes cost of Rs 10,000 on PCIT for lack of proper opportunity. Analysis of the judgment in M.L. Chains Vs PCIT case.
NFRA Penalized Auditors of Tanglin Developments Ltd for Lapses in Professional Judgment, Unreported Irregularities and Tampering with the Audit File
Explore the statutory provisions, instructions, and challenges surrounding the refund of excess balance in the electronic cash ledger under GST Law in India.
Karnataka Tax Practitioners seek GST amnesty for 2017-2020, addressing issues like penalties, interest, and Seamless ITC rights. Read the full request
Introduction: Circular No. 15 of 2023, issued by the Central Board of Direct Taxes, offers comprehensive insights into the intricate details of the guidelines under Clause (10D) of Section 10 within the framework of the Income-tax Act, 1961. This circular takes an in-depth look at the recent amendments, critical provisions, and exemptions associated with sums […]
A comprehensive guide to various scenarios and solutions for belated, revised, defective Income Tax Returns for FY 2022-23, including penalties and provisions under the Income Tax Act.
Learn how to view and change the bank account selected for your income tax refund online. Follow step-by-step instructions to validate and nominate banks
In a case penalties were imposed by Ministry of Corporate Affairs for omitting email and phone details on a company’s letterhead under Companies Act, 2013.
In a recent announcement, the Institute of Chartered Accountants of India (ICAI) has provided a significant relaxation for students under the Old Scheme of Education and Training, aimed at addressing challenges posed by the implementation of the New Scheme of Education and Training, including the Conversion (Transition) Scheme. The relaxation pertains to three categories of […]
In an effort to enhance tax compliance and streamline reporting processes, the Income Tax Department recently sent out an SMS to individuals, addressing concerns related to certain transactions reported in Form 60/61 for the fiscal year 2021-22. The message has sparked queries and curiosity among taxpayers. In response, the Income Tax Department has issued a […]
