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

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 ...
Read More

Letter by TWMTPA expressing disappointment over GST Audit Extension

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 ...
Read More

“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 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 ...
Read More

100% Tax free income in Affordable housing Scheme

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 & ...
Read More

Extracting Honey from Flower: Whether Agricultural Income?

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 ...
Read More