Section 44AD doesn’t mean straight forward deduction of 92% of Expenses
Section 44AD doesn’t mean straight forward deduction of 92% of Expenses One of the most common questions arises while…
Income Tax
Whether Cash seized by the income tax department can be adjusted against Self- Assessment Tax payable by the taxpayers?
Whether Cash seized by the income tax department can be adjusted against Self- Assessment Tax payable by the taxpayers? Whether…
Money saved due to low interest rate loans availed by bank employees taxable: SC
Money saved due to low interest rate loans availed by bank employees taxable: SC All India Bank Officers’ Confederation…
IITAT upheld CIT(A) justification of admitting additional evidenced produced
IITAT upheld CIT(A) justification of admitting additional evidenced produced The submission of additional evidence is often there whenever the…
TDS credit reflected in Form No. 26AS after the income tax return Filed? Here is a solution
TDS credit reflected in Form No. 26AS after the income tax return Filed? Here is a solution Taxpayers can claim…
Issuance 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
Issuance of Notice by JAO & not FAO is invalid as an act which is done by an authority contrary…
Modified return in the case of business reorganisation: An Overview
Modified return in the case of business reorganisation: An Overview Section 170A of the Income-tax Act, 1961 provides that…
Reassessment Proceeding: Short Overview of the Bombay High Court in Hexaware Technologies Limited v. ACIT
Reassessment Proceeding: Short Overview of the Bombay High Court in Hexaware Technologies Limited v. ACIT Hon’ble Bombay High court in…
Compliance Calendar for May’ 2024
Compliance Calendar for May’ 2024 INCOME TAX ▪ 07th May 2024- Due date for payment of TCS/ TDS for…
Guidelines for compulsory selection of returns for Complete scrutiny for FY 2024-25
Guidelines for compulsory selection of returns for Complete scrutiny for FY 2024-25 The copy of the order is as…
Notice issued U/s 148 by Jurisdictional Assessing Officer (JAO) & not by Faceless Assessing Officer is invalid and bad in law: Bombay HC
Notice issued U/s 148 by Jurisdictional Assessing Officer (JAO) & not by Faceless Assessing Officer is invalid and bad in…
Monetary limit fixed for assessment to be done by ACIT won’t preclude jurisdictional AO to initiate reassessment
Monetary limit fixed for assessment to be done by ACIT won’t preclude jurisdictional AO to initiate reassessment Recently, Allahabad…
The jurisdiction of a High Court is not dependent on the location of the ITAT as one Bench of may exercises jurisdiction over other states.
The jurisdiction of a High Court is not dependent on the location of the ITAT as one Bench of may…
NEW TAX REGIME: NO TAX ON INCOME OF RS. 7 LAKH* [* Terms & Condition Apply]
NEW TAX REGIME: NO TAX ON INCOME OF RS. 7 LAKH* [* Terms & Condition Apply] Every individual with income…
Mode & Way to form HUF
Mode & Way to form HUF How to form HUF is one of the most common question by the…
Validity of assessment framed u/s 143(3) vis a vis issuance of notice U/s 143(2) by non- jurisdictional ITO
Validity of assessment framed u/s 143(3) vis a vis issuance of notice U/s 143(2) by non- jurisdictional ITO Here…
Addition 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.
Addition of Rs.344.55 Cr during assessment proceeding with less than 72 Hours to reply to SCN: Assessment quashed by Bombay…
Hon’ble SC upheld strict adherence to the Time Limit for Refunds
Hon’ble SC upheld strict adherence to the Time Limit for Refunds Recently Hon’ble Supreme Court enunciated the following principles…
