• Income Tax

Guidelines – Compulsory Selection of ITRS for Complete Scrutiny during FY 2023-24

3 years ago

Central Board of Direct Taxes (CBDT) has issued guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year…

  • Income Tax

CBDT extends due date for renewal of registration by Charitable Trusts to 30.09.2023

3 years ago

  CBDT extends due date for applying for renewal / grant of provisional registration by Charitable Trusts to 30.09.2023. Failure…

  • Income Tax

Violation of Section 269SS can not be escaped by genuineness or bona fides of transaction

3 years ago

Penalty u/s 271D for violation of Section 269SS can not be escaped by establishing genuineness or bona fides of the…

  • Income Tax

Applying registration u/s 12AA without surrendering PAN of firm was Fraud

3 years ago

Assessee committed fraud by applying registration u/s 12AA without surrendering earlier PAN issued as firm in the very same name…

  • Income Tax

50 % expenditure allowed from Consultancy services without proof of expenses

3 years ago

50 percent expenditure allowed from Consultancy services without proof of expenses in view of the provisions of section 44ADA ABACUS…

  • Income Tax

Penalty u/s 272A(1)(d) deleted as counsel misled and not informed of assessment/penalty

3 years ago

Penalty u/s 272A(1)(d) deleted as counsel misled by filing inaccurate return and not informed of assessment and penalty notices  ABCAUS…

  • Income Tax

Gain on sale of fixed assets held not taxable under income tax act

3 years ago

Gain on sale of fixed assets was not taxable under income tax act as sale consideration was reduced from block…

  • Income Tax

CBDT notifies new Rule 133 for furnishing details of TDS u/s 194BA. Form 16 revised

3 years ago

CBDT has notified new Income Tax Rule 133 for furnishing details of TDS u/s 194BA in quarterly TDS Statements .…

  • Income Tax

CBDT issues FAQs clarifying provisions of TDS u/s 194BA on online games winnings

3 years ago

    CBDT issues FAQs / Guidelines clarifying provisions of TDS u/s194BA on winnings from online games - Read Circular…

  • Income Tax

Exemption u/s 54B denied for investment made in the name of wife

3 years ago

Exemption u/s 54B denied for investment in agricultural land made in the name of wife. ITAT followed decision of jurisdictional…