Direct Tax benefits to Middle Class: Short Overview
Direct Tax benefits to Middle Class: Short Overview Rebate limit increased from 5 L to 7 L in new…
Income Tax
No addition sustainable in the hands of the Power of Attorney holder(PoA): ITAT Amritsar.
No addition sustainable in the hands of the Power of Attorney holder(PoA): ITAT Amritsar. ITAT Amritsar has recently held…
No kitchen-Whether property can be considered as house property?
No kitchen-Whether property can be considered as house property? In this case, Assessee argued that the impunged property is…
Non filing of income tax return within due date u/s 139(1) and disallowance of deduction U/s 80P
Non filing of income tax return within due date u/s 139(1) and disallowance of deduction U/s 80P There is…
Section 80P does not make a distinction between the long term investments and short term investments: Interest income or dividend income should be earned by a co-operative society from another cooperative society is eligible for deduction U/s 80P
Section 80P does not make a distinction between the long term investments and short term investments: Interest income or dividend…
Capital Gain Exemption: Section 54F The fact that income is assessable under the Head “House Property” is not determinative of the nature of properties as residential or not.
Capital Gain Exemption: Section 54F The fact that income is assessable under the Head “House Property” is not determinative of…
AO cannot reject books of accounts merely for producing photocopies or for drop in NP: ITAT
AO cannot reject books of accounts merely for producing photocopies or for drop in NP: ITAT Blue Stampings &…
Wish-list of the Middle Class from Union Budget -2023
Wish-list of the Middle Class from Union Budget -2023 With the 5 Trillion economy in mind, Smt. Nirmala Sitharaman…
RBI Discussion Paper on Expected Loss (EL)-based Approach
RBI Discussion Paper on Expected Loss (EL)-based Approach Reserve Bank of India (RBI), vide Press Release dated 16th January,…
Advisory services not taxable as fees for included services under India-US DTAA: Calcutta High Court
Advisory services not taxable as fees for included services under India-US DTAA: Calcutta High Court Commissioner of Income Tax…
Systematic Investment Plan (SIP) of Mutual fund vs. Taxation on withdrawals
Systematic Investment Plan (SIP) of Mutual fund vs. Taxation on withdrawals Systematic Investment Plan (SIP) is considered as one…
Sale or Gift of the PU Land by the builder & Developer vis a vis Section 43CA
Sale or Gift of the PU Land by the builder & Developer vis a vis Section 43CA Section 43CA provides…
Not all Minor income is subject to the Clubbing Provision
Not all Minor income is subject to the Clubbing Provision Youtube, Instagram, Facebook, Snapchat, LinkedIn etc have become an…
Deduction u/s 80P cannot be denied for the reason that the assessee did not file return of income its return of income within due date u/s 139(1)
Deduction u/s 80P cannot be denied for the reason that the assessee did not file return of income its return…
Addition cannot be sustained if the person fails to mention the the time of payment, notes denomination, dates of payment, prpose of payment during Cross Examination
Addition cannot be sustained if the person fails to mention the the time of payment, notes denomination, dates of payment,…
AO cannot reject audited figures of turnover and adopt increased estimated turnover without sufficient basis
AO cannot reject audited figures of turnover and adopt increased estimated turnover without sufficient basis Whether addition under section…
Whether Sec 43B is applicable to electricity duty to be paid by the assessee as an agent?
Whether Sec 43B is applicable to electricity duty to be paid by the assessee as an agent? Case: The…
Deduction from Interest & Remuneration of the partner of the firm & power of AO U/s 154
Deduction from Interest & Remuneration of the partner of the firm & power of AO U/s 154 The power…
