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Excel Utilities of ITR-1, ITR-2, ITR-4 ITR-6 and ITR-7 & Offline Utilities for ITR-1, ITR-2, ITR-4 and ITR 6 for AY 2024-25 available for filing. CBDT in March 2024 has notified all income tax returns (ITRS) forms ITRs 1 Sahaj ITR-2, 3, ITR 4 Sugam, ITR-5, ITR-6 and …
Will you be arrested if fake bank note is recovered from you? Often, the question is asked by a common person that “will I be arrested if fake bank notes are recovered from me? The answer is simple, No, as mere possession of a forged note does not …
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 …
Interest income on fixed deposits of the surplus funds put in FDRs cannot be treated as business income but income from other sources – ITAT In a recent judgment, ITAT Interest income on fixed deposits of the surplus funds put in FDRs cannot be treated as business income …
Income tax demand will be enforced qua the assets, if any, left behind by the deceased assessee – ITAT In a recent judgment, ITAT has held that income tax demand will be enforced qua the assets, if any, left behind by the deceased assessee as section 159(2) contemplates …
Revision order u/s 263 upheld as substantial amount of cash was deposited in the bank accounts of all the investors shortly prior to issuance of cheques for share application money In a recent judgment, ITAT has upheld the revision order u/s 263 passed by the PCIT as substantial …
