Day: April 1, 2024
New Personal Tax Regime made default one. Consequence and precautions to be taken by assessee before filing ITR for AY 2024-25 who wish to follow old tax regime. The Finance Act 2020 had introduced Personal Tax Regime under section 115BAC of the Income Tax Act, 1961 (the Act) …
Requirement of company secretary at Power Grid Infrastructure Investment Trust Engagement of Eligible & Experienced Company Secretary Professional (on contract) for IPAs of the PGInvIT Power Grid Infrastructure Investment Trust (PGInvIT/Trust), is a listed business trust set up under SEBI (Invit) Regulations and is sponsored by Power Grid …
AMC charges not fee for technical services – No ITAT deletes disallowance u/s 40(a)(ia) In a recent judgment, ITAT has deleted disallowance u/s 40(a)(ia) holding that payment of AMC charges to a foreign company is not a fee for technical services and no tax at source is deductible …
Mere higher cash deposits during demonization period does not make explanation of cash sales as bogus and unsustainable – ITAT In a recent judgment, ITAT has deleted additions holding that merely that certain cash deposits were made by assessee during demonization period and such deposits were on a …
Additions based on statement recorded u/s 132(4) without considering Retraction Affidavit with evidences deleted In a recent judgment, ITAT has deleted additions which were based on only statement recorded u/s 132(4) and without taking note of the Retraction Affidavit filed by the assessee with relevant evidences. ABCAUS Case …
