Category: Income Tax
Excel Income Tax Return Preparation utility for ITR 1, 2, 3 & ITR 4 for AY 2019-20 made available for e-Filing. ITR Description Excel Utility/ Version Release Date ITR-1 For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs. 50 lakhs, having Income …
Payment of house rent to wife residing with assessee in the same house is a colourable devise to avoid legitimate payment of the taxes – ITAT ABCAUS Case Law Citation: ABCAUS 2917 (2019) (05) ITAT The assessee was an individual and deriving income from salary. He filed the …
Reopneing-AO had to act on the basis of reasons to believe and not on reasons to suspect. ITAT quashed the reopening of the assessment. ABCAUS Case Law Citation: ABCAUS 2916 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Aas per AIR information, assessee had sold …
Non doctor running a hospital is not a professional for tax audit turnover limit purpose, but it is a business activity – ITAT deletes penalty u/s 271B ABCAUS Case Law Citation: ABCAUS 2914 (2019) (05) ITAT The appeal was filed by the assessee against the order of CIT(A) …
CBDT extend tenure of Chairman and members of the National Committee for Promotion of Social and Economic Welfare for a further six months till 30.09.2019. MINISTRY OF FINANCE(Department of Revenue) NOTIFICATION New Delhi, the 8th May, 2019 S.O. 1706 (E).—Whereas in exercise of the powers conferred by section …
Unaccounted tax liabilities to be deducted from reserves for levy of deemed dividend u/s 2(22)(e). AO should consider the liability while considering the status of the accumulated profit of the assessee ABCAUS Case Law Citation: ABCAUS 2911 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties …
No Penalty u/s 271(1)(c) without addition-Quantification of penalty depended upon addition made to the income of the assessee – ITAT ABCAUS Case Law Citation:ABCAUS 2910 (2019) (05) ITAT The assessee was in appeal before the Tribunal against the order of the CIT(A) in confirming the penalty imposed by …
Excel Challan 280 FY 2019-20 AY 2020-21 with database facility. Download ABCAUS Income Tax payment Challan No. ITNS 280 This excel Challan 280 for payment of Income Tax should be used for making payment of income tax on companies (corporation tax) or income tax other than companies. This challan …
CBDT shares e-filed ITRs statistics for last 8 years to justify that there is no decline though there is visible negative growth of -0.99% CBDT has made available comparative Income Tax Return e-filing statistics to strengthen its claim that there is no decline in the number of e-filed …
Procedure, format / standards for issue of certificate for TDS on salary in Part B of Form No. 16 through TRACES after amendment. Part B of Form-16 to be issued/downloaded from TRACES Portal Government of India Ministry of FinanceCentral Board of Direct Taxes Directorate of Income-tax (Systems) New …
