Compliance Calendar For The Month of Feb – 2023

Direct Tax benefits to Middle Class: Short Overview

No addition sustainable in the hands of the Power of Attorney holder(PoA): ITAT Amritsar.

No kitchen-Whether property can be considered as house property?

Non filing of income tax return within due date u/s 139(1) and disallowance of deduction U/s 80P

How to get the DTAA benefit for filing income tax return in India?

Section 80P does not make a distinction between the long term investments and short term investments: Interest income or dividend income should be earned by a co-operative society from another co­operative society is eligible for deduction U/s 80P

Capital Gain Exemption: Section 54F The fact that income is assessable under the Head “House Property” is not determinative of the nature of properties as residential or not.

SEZ unit not required to pay GST under RCM

AO cannot reject books of accounts merely for producing photocopies or for drop in NP: ITAT

Wish-list of the Middle Class from Union Budget -2023

CIT(A) directed by Calcutta HC to expeditiously dispose off Appeal pending for 3 years

RBI Discussion Paper on Expected Loss (EL)-based Approach

Advisory services not taxable as fees for included services under India-US DTAA: Calcutta High Court

Systematic Investment Plan (SIP) of Mutual fund vs. Taxation on withdrawals

Sale or Gift of the PU Land by the builder & Developer vis a vis Section 43CA

Not all Minor income is subject to the Clubbing Provision

Deduction u/s 80P cannot be denied for the reason that the assessee did not file return of income its return of income within due date u/s 139(1)