New ITR forms for the AY 2020-21 .Some of the new Disclosures in the new ITR Forms 1 to7 :
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New ITR forms for the AY 2020-21 .Some of the new Disclosures in the new ITR Forms 1 to7 :…
Month: May 2020
Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices
Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices incentive ***************************************************** For Tax & Corporate Law Updates…
Get Ready – CBDT has notified new ITR Forms for the AY- 2020-21(FY- 19-20)
Get Ready – CBDT has notified new ITR Forms for the AY- 2020-21(FY- 19-20) ****************************************** For Tax & Corporate…
Income Tax Survey : No physical discrepancy was found detected by survey team and excess value of stock was merely because of difference in valuation of closing stock
Income Tax Survey : No physical discrepancy was found detected by survey team and excess value of stock was merely…
Income Tax Raid : Expenses offered for disallowance during search not found to be a false claim – For levy of penalty under section 271AAB, falsity of the expense was a pre-requisite
Income Tax Raid : Expenses offered for disallowance during search not found to be a false claim – For levy…
Rental income from letting out of factory building is a income from house property or income from other source ?
Rental income from letting out of factory building is a income from house property or income from other source? Conclusion: There…
CBDT notifies new Form 26AS containing details beyond TDS /TCS pursuant.
CBDT notifies new Form 26AS containing details beyond TDS /TCS pursuant. Form 26AS got replaced with Annual Formation Statement w.e.f…
Getting a PAN has never been this easy !!
Getting a PAN has never been this easy !! All you need, is your Aadhaar number. Just visit the e-filing…
Work From Home” – An Excellent Manual launched by WIRC of ICAI for SMP CA firm
Work From Home” – An Excellent Manual launched by WIRC of ICAI for SMP CA firm WORK FROM HOME…
Settlement (OTS) of Bank Loan: Income Tax Implications
Settlement (OTS) of Bank Loan: Income Tax Implications Instances of Loan default & settlement, loan waiver, one Time Settlement (OTS)…
Taxing cash deposits without giving corresponding credits to the withdrawals is not justified especially where the assessee was a small trader
Taxing cash deposits without giving corresponding credits to the withdrawals is not justified especially where the assessee was a small…
No time limit is prescribed u/s 206C(1A) to make declaration in Form 27C collected from buyers
No time limit is prescribed u/s 206C(1A) to make declaration in Form 27C collected from buyers. For availing benefit of…
Section 44AD : Assessee’s request to restrict the rate from 8% to 3% on the contract receipts which was never substantiated by the books of accounts nor was a part of the provisions, can not be entertained
Section 44AD : Assessee’s request to restrict the rate from 8% to 3% on the contract receipts which was never…
AO can not reopen the assessment based on material which was already available at the time of passing the original assessment order
AO can not reopen the assessment based on material which was already available at the time of passing the original…
Receipts from the sale of teak trees which were removed together with their roots constitute capital receipt: CA Naresh Jakhotia
Receipts from the sale of teak trees which were removed together with their roots constitute capital receipt: CA Naresh Jakhotia…
GST Rate : Licensing services for the right to use minerals & Royalty paid to Government of Uttarakhand
GST Rate : Licensing services for the right to use minerals & Royalty paid to Government of Uttarakhand ORDER This…
What about Capital Gain exemption if the new house property is purchased in joint name with someone else? – CA Naresh Jakhotia
What about Capital Gain exemption if the new house property is purchased in joint name with someone else? – CA…
Whether assessee liable to pay capital gains tax if Bank sold the property of group concern as it failed to repay
Conclusion: As assessee availed loan from the Bank under the banner of group concerns by mortgaging its own property and thereafter,…
