Rare Conviction for failure to file audit, MD jailed
Rare Conviction for failure to file audit, MD jailed The copy of the order is as under: WhatsApp…
Income Tax
New Procedural Aspects of Block Assessments:
New Procedural Aspects of Block Assessments: A. Introduction: Block Assessment provisions were introduced in Finance Act 2024, in order…
Presumptive Scheme of Taxation – Not a license to declare lower income
Presumptive Scheme of Taxation – Not a license to declare lower income Query 1] 1. I would like to know…
When it has been established that unsecured loans are accommodation entries, mere repayment is not a ground to drop the addition U/S 68: Mumbai ITAT
When it has been established that unsecured loans are accommodation entries, mere repayment is not a ground to drop the…
Direct Tax Vivad Se Vishwas Scheme, 2024: A Comprehensive Guide
Direct Tax Vivad Se Vishwas Scheme, 2024: A Comprehensive Guide The Central Board of Direct Taxes (CBDT) has officially notified…
Taxability of transfer fees:
Taxability of transfer fees: 1. A co-operative housing society (hereinafter also referred to as ‘Society’) here, includes all Societies…
Interest earned on damages awarded through a decree of a court is a revenue receipt chargeable to tax in India while damages itself will not be chargeable.
Interest earned on damages awarded through a decree of a court is a revenue receipt chargeable to tax in India…
Issuance of notice under section 143(2) is mandatory: Procedural lapse is fatal and cannot be cured
Issuance of notice under section 143(2) is mandatory: Procedural lapse is fatal and cannot be cured Here is an…
Carry forward of losses in the case of takeover of a company undergoing NCLT proceedings:
Carry forward of losses in the case of takeover of a company undergoing NCLT proceedings: Introduction to Sec 79:…
CBDT Circular enhancing the monetary thresholds for filing appeals by the Department against orders passed in favor of the Assessee
CBDT Circular enhancing the monetary thresholds for filing appeals by the Department against orders passed in favor of the Assessee…
Income Tax Refund cannot be denied only on account of discrepancies in Form 26AS: Delhi HC
Income Tax Refund cannot be denied only on account of discrepancies in Form 26AS: Delhi HC Facts of the…
Exemption u/s. 10(38) disallowed as sale of share was an affair to convert unaccounted money: ITAT Ahmedabad
Exemption u/s. 10(38) disallowed as sale of share was an affair to convert unaccounted money: ITAT Ahmedabad Facts: 1.…
Understanding Deferred Tax Assets and Liabilities: An overview
Understanding Deferred Tax Assets and Liabilities: An overview Deferred Tax Asset (DTA) When a company has paid more taxes according…
Finance Act 2024: A Strategic Push towards the New Tax Regime
Finance Act 2024: A Strategic Push towards the New Tax Regime In an effort to simplify the process of filing…
Valuation report by the DVO alone cannot form a basis for reopening of completed assessment: Delhi HC
Valuation report by the DVO alone cannot form a basis for reopening of completed assessment: Delhi HC Facts: 1.…
Intricacies of Sec 43CA:
Intricacies of Sec 43CA: Introduction: 1. Tax on real estate or property transactions typically gets covered under capital gains.…
Allowability of provision/payment of Gratuity in Income Tax and its representation in Form 3CD
Allowability of provision/payment of Gratuity in Income Tax and its representation in Form 3CD Gratuity is the amount employees receive…
Income Tax benefits available to Ganpati Mandals:
Income Tax benefits available to Ganpati Mandals: Festive season is on and so it would be great to analyse…
