Income TaxIf the source of cash deposit is withdrawal and can be proved, cash deposit cannot be added U/S 68: ITAT4 Jun at 1:52 am0If the source of cash deposit is withdrawal and can be proved, cash deposit cannot be added U/S 68: ITAT…
Income TaxWhether a foreign company whose income is not taxable in India on account of application of DTAA can be issued notice u/s 148 for filing return of income without dealing with objections filed in response to notice u/s 148A(b)3 Jun at 9:45 am0Whether a foreign company whose income is not taxable in India on account of application of DTAA can be issued…
Income TaxInterest received from Credit Co-operative society – Whether exempt from Tax?3 Jun at 1:48 am0Interest received from Credit Co-operative society – Whether exempt from Tax? [Query 1] I am a member of the…
Income TaxUndisclosed income cannot be computed solely on the basis of the statement made during the search: Delhi HC1 Jun at 3:12 am0Undisclosed income cannot be computed solely on the basis of the statement made during the search: Delhi HC The…
GSTIncome TaxTDSCompliance Calendar for June’20241 Jun at 2:23 am0Compliance Calendar for June’2024 INCOME TAX ▪ 07th June 2024- Due date for payment of TCS/ TDS for the…
Income TaxCBDT issues notification on selection of cases for tax scrutiny.31 May at 9:11 am0CBDT issues notification on selection of cases for tax scrutiny. The Central Board of Direct Taxes (CBDT), earlier this…
Income TaxCSR Expenditure Is Mandatory, Does Not Justify Disallowance Of Section 80G Deduction: ITAT30 May at 2:49 am0CSR Expenditure Is Mandatory, Does Not Justify Disallowance Of Section 80G Deduction: ITAT Interglobe Technology Quotient Private Limited, (ITA…
Income TaxDate of possession to be considered as date of purchase of property for claiming exemption u/s 5430 May at 1:52 am0Date of possession to be considered as date of purchase of property for claiming exemption u/s 54 Sunil Amritlal…
Income TaxLiquidated damages received for delay in supply of assets are capital receipts: ITAT Kolkata28 May at 5:44 am0Liquidated damages received for delay in supply of assets are capital receipts: ITAT Kolkata Itc Limited, Kolkata vs Acit, Range-8,…
Income TaxSec 54 deduction is available when new residential property is purchased in spouse’s name: ITAT Mumbai28 May at 5:14 am0Sec 54 deduction is available when new residential property is purchased in spouse’s name: ITAT Mumbai Gopalkrishna Pandu Shetty Vs…
Income TaxDon’t forget to file statement of financial Transaction (SFT) by 31st May28 May at 4:45 am0Don’t forget to file statement of financial Transaction (SFT) by 31st May SFT – The Power tool of Information: The Statement…
Income TaxManner of Service of Notice discussed by P & H High Court28 May at 2:47 am0Manner of Service of Notice discussed by P & H High Court In a recent decision, the Punjab and…
GSTIncome TaxHow maintaining proper records saved a taxpayer’s right to avail ITC even when the supplier defaulted in payment of taxes and filing returns28 May at 2:38 am0How maintaining proper records saved a taxpayer’s right to avail ITC even when the supplier defaulted in payment of taxes…
Income TaxIncorrect reporting in Clause No. 21 of CARO: ICAI’s disciplinary committee ordered a penalty of Rs.100,000/- on member27 May at 10:12 am0Incorrect reporting in Clause No. 21 of CARO: ICAI’s disciplinary committee ordered a penalty of Rs.100,000/- on member ICAI’s…
Income TaxIncome tax return vis a vis Tax Regime from AY 2024-25 Onwards: Points to Remember27 May at 7:50 am0Income tax return vis a vis Tax Regime from AY 2024-25 Onwards: Points to Remember Here are few important Points…
Income TaxWhether legal representative is under an obligation to intimate about the death of the taxpayer to the IT Department?27 May at 6:01 am0Whether legal representative is under an obligation to intimate about the death of the taxpayer to the IT Department? …
Income TaxNotice U/s 148 has to be issued through automated allocation. If issued by JAO, it is invalid27 May at 5:40 am0Notice U/s 148 has to be issued through automated allocation. If issued by JAO, it is invalid The decision rendered…
Income TaxNew Functionality for checking Feedback Status on the Annual Information Statement (AIS)27 May at 2:10 am0New Functionality for checking Feedback Status on the Annual Information Statement (AIS) The Income Tax Department is systematically collecting…