Income TaxMoney saved due to low interest rate loans availed by bank employees taxable: SC1 year agoMoney saved due to low interest rate loans availed by bank employees taxable: SC All India Bank Officers’ Confederation…
Income TaxIITAT upheld CIT(A) justification of admitting additional evidenced produced1 year agoIITAT upheld CIT(A) justification of admitting additional evidenced produced The submission of additional evidence is often there whenever the…
Income TaxTDSTDS credit reflected in Form No. 26AS after the income tax return Filed? Here is a solution1 year agoTDS credit reflected in Form No. 26AS after the income tax return Filed? Here is a solution Taxpayers can claim…
Income TaxIssuance of Notice by JAO & not FAO is invalid as an act which is done by an authority contrary to the provisions of the statue causes prejudice to assessee: Bombay HC 1 year agoIssuance of Notice by JAO & not FAO is invalid as an act which is done by an authority contrary…
Income TaxModified return in the case of business reorganisation: An Overview1 year agoModified return in the case of business reorganisation: An Overview Section 170A of the Income-tax Act, 1961 provides that…
Income TaxReassessment Proceeding: Short Overview of the Bombay High Court in Hexaware Technologies Limited v. ACIT1 year agoReassessment Proceeding: Short Overview of the Bombay High Court in Hexaware Technologies Limited v. ACIT Hon’ble Bombay High court in…
GSTIncome TaxCompliance Calendar for May’ 20241 year agoCompliance Calendar for May’ 2024 INCOME TAX ▪ 07th May 2024- Due date for payment of TCS/ TDS for…
Income TaxGuidelines for compulsory selection of returns for Complete scrutiny for FY 2024-251 year agoGuidelines for compulsory selection of returns for Complete scrutiny for FY 2024-25 The copy of the order is as…
Income TaxNotice issued U/s 148 by Jurisdictional Assessing Officer (JAO) & not by Faceless Assessing Officer is invalid and bad in law: Bombay HC1 year agoNotice issued U/s 148 by Jurisdictional Assessing Officer (JAO) & not by Faceless Assessing Officer is invalid and bad in…
Income TaxMonetary limit fixed for assessment to be done by ACIT won’t preclude jurisdictional AO to initiate reassessment1 year agoMonetary limit fixed for assessment to be done by ACIT won’t preclude jurisdictional AO to initiate reassessment Recently, Allahabad…
Income TaxThe jurisdiction of a High Court is not dependent on the location of the ITAT as one Bench of may exercises jurisdiction over other states.1 year agoThe jurisdiction of a High Court is not dependent on the location of the ITAT as one Bench of may…
Income TaxNEW TAX REGIME: NO TAX ON INCOME OF RS. 7 LAKH* [* Terms & Condition Apply]1 year agoNEW TAX REGIME: NO TAX ON INCOME OF RS. 7 LAKH* [* Terms & Condition Apply] Every individual with income…
Income TaxMode & Way to form HUF1 year ago Mode & Way to form HUF How to form HUF is one of the most common question by the…
IT JudgementValidity of assessment framed u/s 143(3) vis a vis issuance of notice U/s 143(2) by non- jurisdictional ITO1 year agoValidity of assessment framed u/s 143(3) vis a vis issuance of notice U/s 143(2) by non- jurisdictional ITO Here…
Income TaxIT JudgementAddition of Rs.344.55 Cr during assessment proceeding with less than 72 Hours to reply to SCN: Assessment quashed by Bombay HC for de-novo consideration by AO.1 year agoAddition of Rs.344.55 Cr during assessment proceeding with less than 72 Hours to reply to SCN: Assessment quashed by Bombay…
IT JudgementHon’ble SC upheld strict adherence to the Time Limit for Refunds1 year agoHon’ble SC upheld strict adherence to the Time Limit for Refunds Recently Hon’ble Supreme Court enunciated the following principles…
Income TaxFiling of Form MSME- 11 year agoFiling of Form MSME- 1 As per section 405(1) of the Companies Act, 2013 and as per para 3 of…
Income TaxNotional interest income cannot be taxable under the real income principle: Mumbai ITAT1 year agoNotional interest income cannot be taxable under the real income principle: Mumbai ITAT ACIT verses Kesar Terminals and Infrastructure…