Day: October 18, 2024
CBDT Notifies the Income-tax (Eighth Amendment) Rules, 2024. Income /Loss and ITDS employee may report to employer in Form12BA MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 112/2024 New Delhi, the 15th October, 2024 G.S.R. 639(E).— In exercise of the powers conferred by section 295 …
CBDT issues revised guidelines 2024 for compounding of offences under Income-Tax Act 1961 In conformity with the Finance Minister’s budget announcement on simplification and rationalization of compounding procedure, CBDT has issued Revised Guidelines for Compounding of offences under the Income-tax Act, 1961(the ‘Act’) on 17.10.2024. Section 279(2) of …
Penalty u/s 271B confirmed for lack of proof that Books of accounts were destroyed by termite In a recent judgment, the ITAT Visakhapatnam has confirmed penalty u/s 271B holding that assessee was not able to submit any evidences to show that books of accounts were destroyed by white …
Whether assessee filed or not filed return in view of section 10(26)(AAA) tax can not be levied on the assessee being a Sikkimese. In a recent judgment, the ITAT Kolkata has held that irrespective of whether assessee filed or not filed return of income, in view of section …
