Day: March 5, 2024
Income tax prosecution u/s 276CC where assessee filed belated return under section 139(4) – Allahabad High Court admits application In a recent judgment, the Hon’ble Allahabad High Court has admitted an application contending that where assessee had filed return of income under Section 139(4) of the Income Tax …
Excel Calculator to compare Tax under old and new Personal Tax Regime u/s 115BAC for AY 2024-25 (FY 2023-24) This Excel Calculator utility has been made to compare Tax under existing old and new Personal Tax Regime u/s 115BAC. Union Budget 2023-24 has disappointed individual taxpayers who were …
CBDT extends time for filing audit report in Form 10B of 10BB for AY 2023-24 to 31.03.2024 Extension of time limit /due date for filing audit report in Form 10B of 10BB by trusts and institutions for AY 2023-24 to 31.03.2024 was necessitated by trusts / institutions filing …
Assessment order has to be read as it is and there is no scope for drawing any inference or reading between the lines of an assessment order – ITAT In a recent judgment, the ITAT set aside the revisonary order u/s 263 holding that Assessment order has to …