Section 56(2)(vii): Addition on account of amount received by the assessee as a legacy through the Will
Section 56(2)(vii): Addition on account of amount received by the assessee as a legacy through the Will Short Overview Amount…
Income Tax
Landmark Judgement : Compensation received from relinquishment of right to sue for breach of contract is a capital receipt
Landmark Judgement : Compensation received from relinquishment of right to sue for breach of contract is a capital receipt …
Where earning of the rental income is the exclusive or predominant business of the assessee, the income earned by way of lease money or rentals by letting out of the property cannot be taxed under the Head ‘Income from house property’
Where earning of the rental income is the exclusive or predominant business of the assessee, the income earned by way…
Allowability of Remuneration to partner who is Karta of HUF, acting in representative capacity in firm
Allowability of Remuneration to partner who is Karta of HUF, acting in representative capacity in firm Short Overview Salary paid…
Key Amendment by The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 : A Short Overview
Key Amendment by The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 : A Short Overview…
Highlights of Taxation & Other Laws (Relaxation & Amendment) Act, 2020
Highlights of Taxation & Other Laws (Relaxation & Amendment) Act, 2020 The Background: The Taxation & Other Laws (Relaxation & Amendment of…
welcome move by CBDT: Income Tax Survey- Let it be last Resort
welcome move by CBDT: Income Tax Survey- Let it be last Resort When the tax administration carries a human touch…
The Due date extension for Return filing for the FY 2019-20 & 2018-19: Confusions & Clarifications
The Due date extension for Return filing for the FY 2019-20 & 2018-19: Confusions & Clarifications “A lie can run…
Taxation & Other Laws (Relaxation And Amendment Of Certain Provisions) Bill, 2020 introduced in the Lok Sabha
Taxation & Other Laws (Relaxation And Amendment Of Certain Provisions) Bill, 2020 introduced in the Lok Sabha After promulgation of…
CBIC instructions for recovery of interest on Net/cash basis finally issued
CBIC instructions for recovery of interest on Net/cash basis finally issued Finally, Much awaited CBIC instructions to field formation for…
No physical submission! File TDS / TCS Return Online using Aadhaar
No physical submission! File TDS / TCS Return Online using Aadhaar At your office, without any visit or documents forwarding,…
For the purpose of an income to qualify as business income, profit motive is not an essential ingredient : SC
For the purpose of an income to qualify as business income, profit motive is not an essential ingredient : SC …
Capital gains exemption u/s 54F: Property acquired by means of perpetual lease for unlimited period would amount to purchase
Capital gains exemption u/s 54F: Property acquired by means of perpetual lease for unlimited period would amount to purchase Short…
Faceless Assessment: Criteria for Compulsory scrutiny of income tax notified
Faceless Assessment: Criteria for Compulsory scrutiny of income tax notified Income tax Department is changing fast and taking all the steps to…
Once the assessment of the assessee was completed u/s. 44AD, there cannot be any application of sec. 68/69A of the I.T. Act: Bangalore ITAT
Once the assessment of the assessee was completed u/s. 44AD, there cannot be any application of sec. 68/69A of the…
Instances where attest function of CA may make them liable for action by ICAI
Instances where attest function of CA may make them liable for action by ICAI To ensure the transparency & independents…
Legalistic approach should be avoided. Facts should be viewed in natural perspective having regard to the computation of the circumstances of case: Supreme Court
Legalistic approach should be avoided. Facts should be viewed in natural perspective having regard to the computation of the circumstances…
Even in the absence of a title deed, taxpayers can hold the property. The point of time at which taxpayer holds the property is to be taken into consideration in determining the capital gain
Even in the absence of a title deed, taxpayers can hold the property. The point of time at which taxpayer holds…
