Investing in mutual funds? Avoid these mistakes: By Balwant Jain

UPI banking interface recorded highest ever, over 3.6 Bn transactions, last month

CAIT appealed for formation of joint forum to fight unfair business practices, violation of law, Act and Rules by E-commerce companies

Twist in the Tale! Finally, Stay for Reassessment proceedings for non-compliance of procedure u/s 148A: Allahabad HC

Business disallowance under section 40(a)(ia) on Payment of professional charges if such charges are not claimed in profit and loss account and same being capitalized

ICSI requested for extension of time limit for filing of DIR-3 KYC

Whether there can be simultaneous search and survey operations in respect of the same assessee ? 

Statutory Audit requirements for various entities will be ending soon? NFRA consultation paper says that “It is appropriate to revisit the requirement of compulsory statutory audit for all companies irrespective of their size and/or public interest”

Quoting of PAN is Mandatory for opening Bank A/c, for purchase sale of Goods above Rs. 2 Lakh, few cash transactions above Rs. 50,000/- and much more

There is neither any precondition nor an eligibility criteria which mandates that the assessee should have taken possession of the property for claiming deduction towards Housing Loan Interest U/s 24(b).

Section 89 relief is available on pension recovered back also?

Execution of unregistered Joint Development Agreement with an irrevocable Power of Attorney in favour of the Developer do not result in capital gains liability.

Attachment of property including bank account of a person even if provisional was a serious intrusion into the private space of a personal property.

Appointment of Chartered Accountant Firm as Internal Auditor of PFRDA for the F.Y.2021-22

If the taxpayer had substantiated with evidence regarding identity and creditworthiness of share applicants and genuineness of transactions, no addition u/s 68 was called for.

Borrowed money invested in equity & Disallowance of interest expenses under section 36(1)(iii)

Onus to prove source of amount credited in accounts books lie with the assessee failing which it will be treated as undisclosed sources income.

In case of Charitable trust, even if there is a violation of section 13, entire exemption under section 11 and 12 cannot be forfeited