Updated Income Tax Returns: An Overview
Updated Income Tax Returns: An Overview 1. New Section 139(8A) is proposed to be introduced to provide for furnishing…
Income Tax
Key Income Tax Proposals in Union Budget -2022
Key Income Tax Proposals in Union Budget -2022 Though no major announcements or tax reliefs were offered to the taxpayers…
CBDT issues Clarification regarding the Most-Favoured-Nation (MFN) clause in the Protocol to Indias DTAAs with certain countries
CBDT issues Clarification regarding the Most-Favoured-Nation (MFN) clause in the Protocol to Indias DTAAs with certain countries CBDT issues Clarification…
AO can continue proceedings even if reason supplied by him while rejecting objections not acceptable to assessee: HC
AO can continue proceedings even if reason supplied by him while rejecting objections not acceptable to assessee: HC Financial Software…
Once bogus purchases had gone into profit and loss account, and sales were not doubted, only option left with AO is to make addition of gross profit embedded in bogus purchases
Once bogus purchases had gone into profit and loss account, and sales were not doubted, only option left with AO…
TAXMAN SHOOTING DOWN INNOVATING CLAIMS OF TAXPAYERS
TAXMAN SHOOTING DOWN INNOVATING CLAIMS OF TAXPAYERS Author Shravan Suratwala Chartered Accountant, B.Com., Dip. IFRS (ACCA UK) Brief…
The most chronicle amendment proposed by the Finance Bill -2022: Scheme of reassessment up to 10 years
The most chronicle amendment proposed by the Finance Bill -2022: Scheme of reassessment up to 10 years The…
Finance Bill 2022 & amendment related to Charitable Trust and Institutions
Finance Bill 2022 & amendment related to Charitable Trust and Institutions There are lot many changes and amendment related to Charitable Trust and Institutions which…
Amendment in the Revisionary power provisions of section 263 by the Finance Bill 2022
Amendment in the Revisionary power provisions of section 263 by the Finance Bill 2022 There is an amendment which is proposed in the Revisionary power provisions of section 263…
Definition of the term “slump sale” amended by the Finance Bill 2022
Definition of the term “slump sale” amended by the Finance Bill 2022 The definition of the term “slump sale” is proposed to be amended by the Finance Bill…
Budget 2022 – Direct Tax
Budget 2022 – Direct Tax 1. Surcharge reduced on Long Term Capital Gains – Surcharge on Long Term Capital…
Cash credits under section 68 and amendment proposed by Finance Bill 2022
Cash credits under section 68 and amendment proposed by Finance Bill 2022 There is an amendment by the Finance Bill 2022 with regard to…
Set off of loss in search cases – Amendment in the provisions of section 79A of the Act by the Finance Bill – 2022
Set off of loss in search cases – Amendment in the provisions of section 79A of the Act by the Finance Bill…
Scheme for taxation of virtual digital assets by Finance Bill – 2022
Scheme for taxation of virtual digital assets by Finance Bill – 2022 There is a new Scheme for taxation of virtual digital assets by Finance Bill – 2022.…
TDS on purchase of Immoveable Property: Now, on higher of actual purchase price or stamp duty valuation
TDS on purchase of Immoveable Property: Now, on higher of actual purchase price or stamp duty valuation There is…
Non filer of income tax return under section 206AB and 206CCA & amendment proposed by Finance Bill 2022
Non filer of income tax return under section 206AB and 206CCA & amendment proposed by Finance Bill 2022 Let us know about the amendment proposed by…
Exemption of amount received for medical treatment and on account of death due to COVID-19
Exemption of amount received for medical treatment and on account of death due to COVID-19 Let us know about it exemption of amount received for medical treatment and on account of death due to COVID-19. Clause (x) of sub-section (2) of section 56 of the Income-tax Act, 1961 (the Act) inter alia, provides that where any person receives,…
Incentives for state government employees on investment in National Pension System (NPS) subscribers
Incentives for state government employees on investment in National Pension System (NPS) subscribers There is an incentive for state government employees to invest in National Pension…
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