In case for repayment of loan to the assessee, there is no requirement on the part of assessee to prove the source of funds.
“Working in the late hours upto 10 PM in the night and passing this kind of cryptic and non-speaking order will not only affect the health of the officer but also prejudice the interest of the assessee. This could have been avoided by the CIT(Appeals)” : Interesting Order by Chennai ITAT
Validity of Penalty u/s 271D on Contravention of section 269SS for Cash loans taken on account of sister’s marriage
No disallowance under section 43B for non payment of tax within due date if Assessee has not routed it through profit and loss account
Union Budget 2020: Now, Tax Collection at Source (TCS) on foreign remittance through Liberalised Remittance Scheme (LRS)and on selling of overseas tour package as well as TCS on sale of goods over a limit.
DGFT Mandated all the exporters to submit fortnightly statements in prescribed format on Statement of origin issued
Budget 2020: Forget ease of business, seller with turnover exceeding Rs. 10 Cr liable to collectTax At Source (TCS) on its sale if the transactions with any purchaser exceeds Rs. 50 lakh in a year
A welcome Move: Constitutional Amendment Bill to offer Incentives in Taxes, Employment, Education to Small family
