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The Pune bench of the Income Tax Appellate Tribunal (ITAT) chaired by R.S. Syal (VP) rendered that the Commissioner of Income Tax (Appeals) adjudicate the petition furnished manually since they rejected the filed petition via the taxpayer on the cause that the same does not file electronically. Though the need for e-filing of the appeals […]
The Income Tax Appellate Tribunal (ITAT) Delhi bench recently ruled that due to a tenant’s incorrect provision, the landlord was not responsible for TDS (tax deducted at source). Rajesh Kumar Gupta, the assessee, receives rent from V.M. Rubber Industries, his tenant. According to the copy of the computation of income, the assessee included a deduction […]
The finance ministry released a statement saying, the GST collection spiked by 13 per cent in March 2023 reaching the second-highest peak of Rs 1.60 lakh crore. GST collections touched and crossed the magical number of 1.5 lakh crores four times in the current financial year. According to the government, “the overall GST income received […]
Easy to Understand ITR Filing Status When you file and validate your ITR then the income tax department shall execute functioning your tax return. At the time of processing the tax department shall verify if there would be any differences between the shown income in the Income-tax return via the person with the available data […]
What is a Company Auditor Report? The audit report is a critical deliverable for every organization since it reveals the final outcomes of the whole audit process. Users of financial statements, such as investors, lenders, customers, and others, base their judgments and plans on an enterprise’s audit reports. An audit report is always important in […]
The husband would be qualified for taking the credit of TDS on the interest made on the amount gifted to his wife, Income Tax Appellate Tribunal’s (ITAT), Pune Bench ruled. The two-member bench of R.S. Syal (Vice President) and S.S. Viswanethra Ravi (Judicial Member) ruled that assessability is there in the hands of somebody other […]
The taxpayer does not liable to exemplify the recipients of the receipts shown in Form No. 26AS, The Delhi Bench of Income Tax Appellate Tribunal (ITAT) ruled. The two-member bench of Anubhav Sharma (Judicial Member) and N.K. Billaiya (Accountant Member) at the time of deleting the additions sees that the Assessing Officer must be needed […]
This article will aware of the TDS claim process if credit is not reflected in 26AS, AIS and TIS forms. There is Section 205 of the Income Tax Act of 1961 that gives you rights in certain situations. For example, if you are paying 60% tax on your income but your adequate tax liability is […]
The income tax department launched a new AIS app for the assessee. There is good news if you are an assessee. The income tax department would have started the new mobile app known as the AIS to obtain the Annual Information Statement (AIS). For each transaction, the assessee shall obtain detailed information via the same […]
