Pooja Expenses incurred allowable business expenditure under section 37 of the Income Tax Act, 1961 – ITAT In a recent judgment, ITAT Nagpur has held that Pooja Expenses incurred were allowable business expenditure under section 37 of the Income Tax Act, 1961. ABCAUS Case Law Citation:4311 (2024) (11) …
SEBI directs Mutual Funds to disclose expenses, half yearly returns, yield and risk-o-meter of schemes Under the current regulatory framework for Mutual Funds, various disclosure requirements have been mandated, which include disclosures by Mutual Funds with respect to expenses and risks pertaining to schemes. Based on the recommendation …
Corrigendum to issued to rectify mistake in original assessment order was a valid assessment order – ITAT In a recent judgment, ITAT Chennai has held that corrigendum to assessment order issued by the Assessing Officer (AO) to rectify mistake in original assessment order was a valid assessment order. …
Guidelines for Customs field formations in maintaining ease of doing business while engaging in investigation into tax evasion cases in import or export Instruction No.27/2024-Customs F. No. 394/39(14)/2018-Commr.(lnv.-Cus.)Government of IndiaMinistry of Finance,Department of RevenueCentral Board of Indirect Taxes and Customs(Investigation-Customs) New Delhi, 01 November, 2024 ToAll Principal Chief …
CBDT issues guidelines and monetary limits of the income-tax authorities for reduction or waiver of interest paid or payable u/s 220(2) Circular No. 15/2024 F. No. 400/08/2024-IT(B)Government of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes******** New Delhi, 4th November, 2024 Subject: Order under section …
Registration u/s 80G does not make a trust purely charitable so as to tax anonymous donations u/s 115BBC(1) – High Court In a recent judgment, Hon’ble Bombay High Court has held that merely by registration u/s 80G a trust can not be said to be a charitable trust …
