Income Tax

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Recent Posts

  • Income Tax

Discontinuance of business of firm will not vest ownership of firm’s property with partners

Discontinuance of business of partnership firm will not result in vesting ownership of firm's property with individual partners for capital…

17 hours ago
  • Income Tax

Release of seized jewellery/gold u/s 132B within 120 days is directory not mandatory

Stipulation of 120 days for release of seized jewellery/gold u/s 132B is directory not mandatory – Delhi High Court In…

19 hours ago
  • ICAI

ICAI issues FAQs on key accounting implications arising from New Labour Codes

FAQs on key accounting implications arising from the New Labour Codes Recently, Government consolidated existing labour laws into four new…

23 hours ago
  • Income Tax

Deduction u/s 80-IA(7) not allowed for delayed filing of audit report in Form 10CCB

Filing audit report in Form 10CCB within due date is mandatory. The assessee cannot claim deduction u/s 80-IA(7) he ground…

2 days ago
  • Income Tax

Is CSR expenditure is allowable under section 80G of Income Tax Act – ITAT says “Yes”

CSR expenditure of companies is allowable under section 80G unless fall under the two exceptions specified. In a recent judgment,…

2 days ago
  • Income Tax

Territorial jurisdiction of ITAT is determined on the basis of situs of Assessing Officer

Jurisdiction of ITAT is determined not by the place of business or residence of assessee but by the location of…

2 days ago