Deduction u/s 80P(2): If the income isderived from the business of banking, then only it will fall within the exemption.If it arises from and out of the business with third party as in case of investment of surplus assets, the exemption is not available
Query- I am a proprietor of three firms which are under tax audit. However, I am allowed to upload only one tax audit report. What is the remedy?
Interest on fixed deposit received during trial run is a capital receipt which will reduce the cost of asset
Landmark Judgment: Expenses incurred for earning remuneration from partnership firm is an allowable expenditure
GST: Detention/Confiscation of goods alongwith conveyance & scope of powers under section 129 and 130
Budget 2020: Whether Concessional Income Tax Rates benefit would be available if the income tax return is filed belatedly U/s. 139(4)
New Proposed Time Schedule for Registration, Approval or Renewal of Charitable Trust with the Income Tax Department as proposed by Finance Bill – 2020 [U/s 12AB or U/s 10(23C)
Though the assessee has not proved the genuineness of the purchases and sales, yet if the AO has accepted the sales, the entire purchases cannot be disallowed.
Purchase of property below its stamp duty valuation: Amendment done w.e.f AY 2014-15 will not apply to a purchase transaction of immovable property for which full consideration in the pre-amendment period.
