Penalty under section 271(1)(c) get attracted if income is not disclosed voluntarily but it disclosed in pursuance of action by department

Whether the expenditure referred to in Section 40A(3) refers only to the expenditure that could be claimed as a deduction under Section 37 or to any payment made by the assessee and taken into account in computing the total income under the provisions of the Income-tax Act, 1961 ?

TDS DUE DATE FOR FILLING 24Q IS EXTENDED

Corpus fund received by trust not registered under section 12AA is not taxable

Top Taxpayer may get a direct call from PMO or FMO for a cup of Tea

Whether Transfer of funds from NRO (Non Resident Ordinary) account to NRE (Non Resident External) requieea CA Certificate in Form 15CB?

Income from redemption of units of mutual fund in the hands of firm formed with an object to carry out money lending business – Whether business income or capital gain income ?

Bail application for Grant of bail for Wrongful availment of input tax credit

Reassessment Notice issued under section 148 to the deceased assessee is Curable defect under section 292BB

No penalty if no TDS due to wrong declaration by truck owner under form 15 – I as to number of trucks owned by him

Whether municipal corporation paid by tenant can be added to rent for levying income tax?

If the house property was vacant during the year under consideration then Annual Value is to be taken as Nil

Income Tax Law as applicable for the first installment of advance Tax.

Business Compliance Calendar for June-2019

Money don’t have colour. Capital gain exemption available even if the investment is done by borrowed capital

First Budget of Smt Nirmala Sitharaman as Finance Minister on 5th July 2019

Admission of undisclosed income during survey attracts Penalty under section 271(1)(c)

Whether Bank Guarantee Commission attracts TDS U/s 194H? Issue decided by Delhi ITAT