CBDT issues further Clarifications on provisions of the Direct Tax Vivad se Vishwas Act, 2020
CBDT issues further Clarifications on provisions of the Direct Tax Vivad se Vishwas Act, 2020 Circular No. 21/2020 No. IT(A)/1/2020-TPL…
Income Tax
SOPs for Assessment Unit,Verification Unit,Technical Unit and Review Unit
SOPs for Assessment Unit,Verification Unit,Technical Unit and Review Unit National e-Assessment Centre, Delhi Room No. 401, 2nd Floor, E-Ramp, Jawaharlal…
Salient features of Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme
Salient features of Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme Who can opt for the scheme:Following registered…
CBDT to validate Unique Document Identification Number (UDIN) generated from ICAI portal at the time of upload of Tax Audit Reports
CBDT to validate Unique Document Identification Number (UDIN) generated from ICAI portal at the time of upload of Tax Audit…
When the Taxmen Knock Your Door…(III) [Know about Income Tax Raids]
When the Taxmen Knock Your Door…(III) [Know about Income Tax Raids] In the earlier issues of the TAX talk, we…
Three sets of sales: accounted; unaccounted and partly-accounted: Income Tax Raid revealed Rs. 450 Cr of undisclosed income
Three sets of sales: accounted; unaccounted and partly-accounted: Income Tax Raid revealed Rs. 450 Cr of undisclosed income Ministry of…
Whether the eldest Daughter can be KARTA Of HUF after Death of Senior Most Male Karta ?
Whether the eldest Daughter can be KARTA Of HUF after Death of Senior Most Male Karta ? In February, 2016,…
Interest income on FDR’s pleaded as intrinsically connected with business of assessee- whether business income or income from other source?
Interest income on FDR’s pleaded as intrinsically connected with business of assessee- whether business income or income from other source? Short Overview…
Notional Taxation: Law as applicable as on the date of agreement required to be applied for taxing the income.
Notional Taxation: Law as applicable as on the date of agreement required to be applied for taxing the income. ITAT…
Reopening not justified when there is no evidence to show that there was escapement of income due to failure on the part of assessee to disclose fully and truly all material facts necessary for assessment
Reopening not justified when there is no evidence to show that there was escapement of income due to failure on…
Surplus arising on prepayment of deferred sales-tax loan at NPV is a capital receipt which could not be termed as remission or cessation of a trading liability so as to attract income tax u/s 41(1).
Surplus arising on prepayment of deferred sales-tax loan at NPV is a capital receipt which could not be termed as remission…
Leasehold rights is not eligible for depreciation under section 32(1)(ii) considering it as intangible rights.
Leasehold rights is not eligible for depreciation under section 32(1)(ii) considering it as intangible rights. Short Overview Since leasehold rights…
To acquire jurisdiction under section 153C, the seized documents must be incriminating
To acquire jurisdiction under section 153C, the seized documents must be incriminating Section 153C is highly used section wherever a…
Allowability of Deduction under section 80JJA if deduction not allowed in first year of employment
Allowability of Deduction under section 80JJA if deduction not allowed in first year of employment Short Overview If deduction under…
Disallowance for bogus purchases and addition to the Income
Disallowance for bogus purchases and addition to the Income Pavapuri Metals And Tubes Vs ITO ITA No.1148/Mum/2019 The assessee, firm,…
Partnership Deed not executed on requisite stamp paper : Whether salary to Partners can be disallowed?
Partnership Deed not executed on requisite stamp paper : Whether salary to Partners can be disallowed? Kachhi Heritage Vs ACIT ITA…
Income Tax Search and Seizure Assessments- No universal application of the “extrapolation technique” in Search Assessments
Income Tax Search and Seizure Assessments- No universal application of the “extrapolation technique” in Search Assessments Introduction: During the course…
Goodwill / customer contracts duly recorded in the audited financials are eligible for depreciation being intangible assets u/s 32(1)(ii)?
Goodwill / customer contracts duly recorded in the audited financials are eligible for depreciation being intangible assets u/s 32(1)(ii)? DCIT…
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