Income TaxSection 44AD doesn’t mean straight forward deduction of 92% of ExpensesYesterday at 1:58 am0Section 44AD doesn’t mean straight forward deduction of 92% of Expenses One of the most common questions arises while…
Income TaxWhether Cash seized by the income tax department can be adjusted against Self- Assessment Tax payable by the taxpayers?10 May at 10:35 am0Whether Cash seized by the income tax department can be adjusted against Self- Assessment Tax payable by the taxpayers? Whether…
Income TaxMoney saved due to low interest rate loans availed by bank employees taxable: SC10 May at 7:16 am0Money saved due to low interest rate loans availed by bank employees taxable: SC All India Bank Officers’ Confederation…
Income TaxIITAT upheld CIT(A) justification of admitting additional evidenced produced10 May at 1:31 am0IITAT upheld CIT(A) justification of admitting additional evidenced produced The submission of additional evidence is often there whenever the…
Income TaxTDSTDS credit reflected in Form No. 26AS after the income tax return Filed? Here is a solution9 May at 7:18 am0TDS credit reflected in Form No. 26AS after the income tax return Filed? Here is a solution Taxpayers can claim…
Income TaxIssuance of Notice by JAO & not FAO is invalid as an act which is done by an authority contrary to the provisions of the statue causes prejudice to assessee: Bombay HC 9 May at 2:20 am0Issuance of Notice by JAO & not FAO is invalid as an act which is done by an authority contrary…
Income TaxModified return in the case of business reorganisation: An Overview8 May at 1:41 am0Modified return in the case of business reorganisation: An Overview Section 170A of the Income-tax Act, 1961 provides that…
Income TaxReassessment Proceeding: Short Overview of the Bombay High Court in Hexaware Technologies Limited v. ACIT7 May at 6:12 am0Reassessment Proceeding: Short Overview of the Bombay High Court in Hexaware Technologies Limited v. ACIT Hon’ble Bombay High court in…
GSTIncome TaxCompliance Calendar for May’ 20247 May at 2:44 am0Compliance Calendar for May’ 2024 INCOME TAX ▪ 07th May 2024- Due date for payment of TCS/ TDS for…
Income TaxGuidelines for compulsory selection of returns for Complete scrutiny for FY 2024-257 May at 2:30 am0Guidelines for compulsory selection of returns for Complete scrutiny for FY 2024-25 The copy of the order is as…
Income TaxNotice issued U/s 148 by Jurisdictional Assessing Officer (JAO) & not by Faceless Assessing Officer is invalid and bad in law: Bombay HC6 May at 9:58 am0Notice issued U/s 148 by Jurisdictional Assessing Officer (JAO) & not by Faceless Assessing Officer is invalid and bad in…
Income TaxMonetary limit fixed for assessment to be done by ACIT won’t preclude jurisdictional AO to initiate reassessment6 May at 9:38 am0Monetary limit fixed for assessment to be done by ACIT won’t preclude jurisdictional AO to initiate reassessment Recently, Allahabad…
Income TaxThe jurisdiction of a High Court is not dependent on the location of the ITAT as one Bench of may exercises jurisdiction over other states.6 May at 2:32 am0The jurisdiction of a High Court is not dependent on the location of the ITAT as one Bench of may…
Income TaxNEW TAX REGIME: NO TAX ON INCOME OF RS. 7 LAKH* [* Terms & Condition Apply]6 May at 2:04 am0NEW TAX REGIME: NO TAX ON INCOME OF RS. 7 LAKH* [* Terms & Condition Apply] Every individual with income…
Income TaxMode & Way to form HUF4 May at 5:11 pm0 Mode & Way to form HUF How to form HUF is one of the most common question by the…
IT JudgementValidity of assessment framed u/s 143(3) vis a vis issuance of notice U/s 143(2) by non- jurisdictional ITO4 May at 4:44 pm0Validity of assessment framed u/s 143(3) vis a vis issuance of notice U/s 143(2) by non- jurisdictional ITO Here…
Income TaxIT JudgementAddition of Rs.344.55 Cr during assessment proceeding with less than 72 Hours to reply to SCN: Assessment quashed by Bombay HC for de-novo consideration by AO.4 May at 4:22 pm0Addition of Rs.344.55 Cr during assessment proceeding with less than 72 Hours to reply to SCN: Assessment quashed by Bombay…
IT JudgementHon’ble SC upheld strict adherence to the Time Limit for Refunds4 May at 4:10 pm0Hon’ble SC upheld strict adherence to the Time Limit for Refunds Recently Hon’ble Supreme Court enunciated the following principles…