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IT Judgement

No penalty if Declaration is made under section 132(4) by duly substantiating manner in which such undisclosed income was derived; including those undisclosed income in the return filed under section 153A and the payment of taxes is done thereon

January 19, 2021 0 Comments
No penalty if Declaration is made under section 132(4) by duly substantiating manner in which such undisclosed income was derived; including those undisclosed income in the return filed under section 153A and the payment of taxes is done thereon Short ...
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GST

Letter by TWMTPA expressing disappointment over GST Audit Extension

January 18, 2021 0 Comments
Letter by TWMTPA expressing disappointment over GST Audit Extension The complete text of the representation done by WMTPA is as under:  THE WESTERN MAHARASHTRA TAX PRACTITIONERS’ ASSOCIATION Date: 1st Jan 2021 To, Smt. Nirmala Sitharaman Hon’ble Union Minister of Finance and Chairman, Goods and Service Tax ...
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Income Tax

“The CBDT is directed to leniently consider the said representation after giving an opportunity of hearing to the petitioner and to pass a reasoned order thereupon”: High Court of Uttarakhand

January 18, 2021 0 Comments
"The CBDT is directed to leniently consider the said representation after giving an opportunity of hearing to the petitioner and to pass a reasoned order thereupon": High Court of Uttarakhand The Dehradun Chartered Accountants Society Vs. Union of India (High ...
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Income Tax

100% Tax free income in Affordable housing Scheme

January 18, 2021 0 Comments
100% Tax free income in Affordable housing Scheme “Housing is absolutely essential to human flourishing. Without stable shelter, it all falls apart.” - Matthew Desmond With the reduction in the rate of stamp duty, real estate activity started witnessing higher volume & ...
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Income Tax

Extracting Honey from Flower: Whether Agricultural Income?

January 16, 2021 0 Comments
Extracting Honey from Flower: Whether Agricultural Income? Whether income by extracting honey by keeping bee is agricultural income? Whether it is taxable or not taxable? It can be classified as income from horticulture? Opinion: The term “Agricultural Income“ has been defined u/s ...
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