Utilization of capital gains within time specified would entitle assessee to claim of deduction under section 54 even if sale deed is not executed

CBDT issued annual Circular clarifying the TDS on salaries

No penalty u/s 271(1)(c) in respect of a debatable issue

“Now Taxpayer……..Of registration”

TDS has to be deducted in the case of supplementary commission of travel agents: SC

Addition done without referring the valuation to the DVO: Court restored the file to AO for valuation

Intimation U/s 143(1) is not an assessment for the purposes of Section 147 and so it is not necessary for the AO to come across some fresh tangible material to form a belief that income has escaped assessment.  

Short Overview of the SC judgement on taxability of surplus amount after revaluation of assets credited to partners’ capital account:

Rejected paddy seeds taxable at 5% under GST and not eligible for exemption as per Notfication No. 2/2017 CT (Rates)

Why costs should not be imposed on JCIT for in acting in reckless illegal Manner – Asked Rajasthan HC

Compliance Calendar for Dec-22

You will soon have access to paperless Home loans

No deduction towards Employee’s Share of PF/ESIC if not paid within the due date

An overview of the FATCA Reporting

Tax Compliance Calendar For The Month of December – 2022

Capital gain exemption if Sale deed not done within 2 years: Beneficial provisions must be liberal to accommodate rules laid down broadly to verify compliance and must not be interpreted literally.

PENALTIES APPLICABLE UNDER THE BOMBAY PUBLIC CHARITABLE TRUST ACT [SECTION 66]

SC issued Notice in SLP against HC dismissing the writ petition challenging reassessment proceedings under section 148.