Housewife cannot be reassessed under Income tax for joint property held with husband [Read order]
Additionally, the court noted that the details regarding the source of funds should have been sought from the petitioner's husband ...
Friday, December 20, 2024
Tag: income tax update
Assessee can choose method of valuation u/s 56(2)(viib) r.w.r. 11UA of Income tax act [Read order]
While it would be open for the AO, for reasons so recorded, to doubt or reject a valuation that may ...
Directorate of Income Tax (Investigation), Delhi, sets up 24X7 Control Room and toll-free Mobile No.
The Income Tax Department, under its commitment to assist the Election Commission of India in curbing the role of black ...
What is discard return? How to discard Income tax return? FAQ on discard return
As of now there is no clarity as to why discard return option is better than filing a revised return, ...
CBDT’s e-Verification Scheme harnesses information technology to facilitate voluntary compliance
On a pilot basis, in about 68,000 cases, information of financial transactions pertaining to FY 2019-20 has been taken up ...
FAQ’s on AIS (Annual Information Statement) issued by Income Tax Department
AIS is the extension of Form 26AS. Form 26AS displays details of property purchases, high-value investments, and TDS/TCS transactions carried ...
List of business codes not eligible for section 44AD – Presumptive taxation
Considering the above exclusion we can say that if a person is showing his income and using the purpose code ...
How to link PAN and Aadhar after the due date of 31.03.2022 by making payment of fee u/s 234H | Step by step procedure
As per CBDT circular F.No. 370142/14/22-TPL dated on 30th March 2022, every person who has been allotted a PAN as ...
Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2022-23
As per the amendments brought by Finance Act 2021, the time limit for service of notice u/s 143(2) of the ...
Remuneration from Partnership firm cannot be considered as gross receipt/ turnover for section 44AB | Bombay High court | Case law
The court concluded that the Revenue was right in its contention that remuneration and interest from the partnership firm cannot ...
Central Government relaxes provisions of TCS under section 206C(1G) of the Income-tax Act, 1961 in respect of non-resident individuals visiting India
In order to remove such difficulties, the Central Government, in exercise of powers conferred under section 206C(1G) of the Act, ...
CBDT extends last date for filing of Form No.10AB till 30.09.2022
The application for registration or approval under Section 10(23C), 12A or 80G of the Act in Form No.10AB, for which ...
Penalty for linking Aadhar PAN reduced for first three months i.e. April 2022 to June 2022
However, Income Tax department has vide notification no. 17/2022 Dt. 29.03.2022 reduced the late fees amount to Rs. 500 if ...
Due date to link PAN and Aadhar is 31.03.2022 | Penalty of Rs. 1,000 for not linking PAN-Aadhar and Higher rate of TDS
As per Rule 114AAA of Income Tax rules, if a person doesn’t link his PAN with Aadhar, PAN will become ...
Tax audit due date extended to 15.02.2022 by Income tax department from 15.01.2022
Further in case of tax audit under 92E cases also the date has been extended from 31.01.2022 to 15.02.2022.
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GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning
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How to pay Membership and COP fees of ICAI for 2020-21 |
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Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods
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Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020
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SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type
- Statutory Compliance Calendar for December 2024 | Income tax, GST and various other laws
- Statutory Audit of Other Non-Current Assets [Company Law]
- Extension of due date for furnishing return of income from 30.11.2024 to 15.12.2024
- PAN 2.0: A Digital Leap in Taxpayer Services
- Statutory Audit of Long-Term Loans and Advances [Company law]
- Condonation of delay for Form 9A/10/10B/10BB for AY 2018-19 and subsequent years
- Statutory Audit of Non-Current Investments in Indian Companies [Company Law]
- Statutory Audit of Intangible Assets Under Development in Indian Companies [Company Law]
- FAQ issued by CBDT on Vivad se Vishwas Scheme, 2024 [Read circular]
- CBDT extends due date for filing Income tax return for AY 2024-25 till 15th November 2024
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