Seizure under GST of Cumin Seed (Zeera) and Fennel seed (Sauf) being perishable in nature
Seizure under GST of Cumin Seed (Zeera) and Fennel seed (Sauf) being perishable in nature Since the goods confiscated are…
Income Tax
Capital Gain exemption available even if new assets is purchased before furnishing of return of income belatedly u/s 139(4)
Capital Gain exemption available even if new assets is purchased before furnishing of return of income belatedly u/s 139(4) Though…
Immunity from penalty and prosecution & Settlement Commission
Immunity from penalty and prosecution & Settlement Commission In terms of the provisions of section 245H, no immunity from penalty…
Interest received by cooperative society on investment with cooperative banks & eligibility of deduction u/s 80P(2)
Interest received by cooperative society on investment with cooperative banks & eligibility of deduction u/s 80P(2) An overview: Where…
Payment of Web hosting charge & Income deemed to accrue or arise in India as Royalty
Payment of Web hosting charge & Income deemed to accrue or arise in India as Royalty An over view: As…
Taxation of Gifts under Income Tax Act, 1961
BACKGROUND Gifts have always been a topic of hot discussion as far as income tax laws in India are concerned.…
FACILITY FOR CORRECTON OF FORM 26QB ACTIVATED (REVISED)
FACILITY FOR CORRECTON OF FORM 26QB ACTIVATED (REVISED) Section 194IA of the Income tax Act relates to the TDs deducted…
DATE RELEVANT FOR THE PURPOSE OF LTCG U/S 54 OF INCOME TAX ACT, 1961
DATE RELEVANT FOR THE PURPOSE OF LTCG U/S 54 OF INCOME TAX ACT, 1961 Long term capital arises on transfer…
IT Commissioner awarded 7 years Rigorous Imprisonment
IT Commissioner awarded 7 years Rigorous Imprisonment
DEDUCTION TOWARDS MEDICLAIM EXPENSES – ALL ABOUT SECTION 80D
DEDUCTION TOWARDS MEDICLAIM EXPENSES – ALL ABOUT SECTION 80D Deduction Under Section 80D in respect of Medical Insurance Premium (Mediclaim) paid to…
Cash transactions not allowed as per Income Tax Departmen
Cash transactions not allowed as per Income Tax Departmen There are penalty and fine for certain transactions if done in…
Silver: Within limit of Instruction No. 1916 to be deleted
Silver: Within limit of Instruction No. 1916 to be deleted An interesting judgement was delivered by ITAT Indore In the…
Borrowed mount invested in shares is irrelevant in determining whether income is a business income or capital gain income
Borrowed mount invested in shares is irrelevant in determining whether income is a business income or capital gain income PCIT…
Surprising revelation by CAG – 95% of the developers in 12 states don’t have PAN
Surprising revelation by CAG – 95% of the developers in 12 states don’t have PAN
Suspicious income tax refund claims under I-T Dept scanner
Suspicious income tax refund claims under I-T Dept scanner Suspicious income tax refund claims have gone up in last three…
Bank statement not sufficient to prove the genuineness and creditworthiness
Bank statement not sufficient to prove the genuineness and creditworthiness Merely by showing receipt of cheque or statement of bank…
A welcome Judgement -Attachment of bank accounts lifted provided monies are utilised entirely for petitioner’s catering business and not diverted to any personal account: High Court
A welcome Judgement -Attachment of bank accounts lifted provided monies are utilised entirely for petitioner’s catering business and not diverted…
Enhanced income resulting due to change in method of accounting, rather than concealment, does not merit penal consequences upon taxpayer: HC
Enhanced income resulting due to change in method of accounting, rather than concealment, does not merit penal consequences upon taxpayer:…
