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The Kolkata Bench of the ITAT has refused the revisionary order that the Income Tax Authority is passing without quoting Document Identification No. (DIN) in the mentioned order, as required by the CBDT Circular No.19/2019, on 14.08.2019. The Bench, consisting of Mr Sanjay Garg (Judicial Member) and Mr Girish Agrawal (Accountant Member), ruled that since […]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench rendered that the assessing officer revamp the order passed without acknowledging the TDS statement beneath Form 16 by enforcing section 154 of the income tax act, 1961 and ruled that the employer is obligated for the lower TDS deduction. The taxpayer MarkandIndraprasad Bhatt shows the income of […]
As per the Cochin Chamber of Commerce and Industry (CCCI), the government’s decision to mandate the deduction of the income tax at source (TDS) towards the debt amount which is waived by the banks via one-time settlement (OTS) policy beneath section 194R of the income tax act would have bad outcomes. According to section 194R […]
We want to put on record our sincere appreciation to your good office and the government for the complete and robust response to the pandemic and the next action chosen to enhance the economy. We have admired the work of the government toward the rectification of the latest income tax filing portal which works much […]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that the hospitals would be deducted with the TDS beneath section 194J of the Income Tax Act, 1961 towards the payments incurred to the doctors who are involved as retainers and consultants since there would be no component of the employer-employee relationship. The petitioner, […]
The Central Board of Direct Taxes (CBDT) has provided the guidelines asking to address the problems that arise from the application of the latest section 194R of the income tax act for withholding 10% tax (TDS) on the advantages or perquisites from non-salary sources. The latest provision portion of the finance act 2022 would come […]
Beneath the income tax act, a new return is an updated concept, this would draw voluntary compliance instead of following a longer adjudication process. No matter, if an income tax return would be furnished for a specific assessment year, a taxpayer is qualified to furnish a new return for that assessment year within 24 months […]
The Gujarat Authority of Advance Ruling (AAR) poses with Arun Richard and Atul Mehta who specified that 18% GST is subjected to pay on the car sale by the company post to using its business purposes. The petitioner, M/s. Dishman Carbogen Amcis Limited has brought a new car for Rs 80 lakhs dated 16-02-2018 for […]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, Shri Mahavir Prasad, JM & Shri Waseem Ahmed, AM held that the AO can convert the Limited to Comprehensive scrutiny on some needs exclusively with the approval of PCIT in writing. The petitioner is a doctor who runs a hospital in Ahmedabad. The taxpayer has brought an […]
