New Information for Statement of Financial Transactions: Interest Income

Recent Posts

• Instructions to ease out GST Registration issued – Officers instructed to adhere to the guidelines
• Pune ITAT allows the taxation of profit Element in Unrecorded Sales – Held that admission isn’t Always Final
• Foundational requirement for processing a return under Section 143(1) is that such return must be valid as per the Act
• Notices Incoming for Non-Filers- An action under section 148 in process
• An addition of ₹ 10.33 Cr as commission income in the hands of the Auto Rickshaw Driver – ITAT Deleted addition with direction that the real culprits should be investigated
• Allotment date & not registration date is relevant for determining the holding period for capital Assets as Long-Term or Short-Term
• When Luxury Meets Tax: CBDT’s New TCS Rules for Watches, Home Theatres — and Even Horses!
• Rejection of Books of Accounts: The profit estimation cannot be arbitrary or without any basis.
• CBDT Circular 05/2025 for Waiver of Interest levy in specified cases
• Compensation received for removing the nuisance should be treated as a capital receipt and hence not taxable: ITAT Mumbai