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CBDT reported the ITR forms for the AY 2022-23, with respect to FY 2021-22. But the applicability of the ITR forms for the various assessee who comes in distinct slabs does not amend, attention has been on some of the amendment. Foreign Assets Reporting Under Income Tax The schedule for FA needs to report the […]
A division bench of the Gujarat high court has refused the assessment order mentioned beneath section 144B of the income tax act, 1961 on the basis of the notice was not being furnished as well as the draft assessment. The taxpayer, M/s Symphony Ltd has to vide the letters on 30.05.2021 and 01.07.2021 corresponding fetched […]
No law has been given in the said section of section 271(1)(c) of the Income Tax Act, 1961 and is deemed incorrect by The New Delhi bench ITAT on the penalty notice under income tax issued. Penalty orders are being obtained by the taxpayer via the income tax department. Attacking the orders, the taxpayer said […]
Every individual who comes under the income chargeable to tax is needed to furnish the ITR to declare their income along with the tax liabilities. However, the income tax laws in India issue the collection or deduction of the tax at source (TDS/TCS) itself. The same gives the assurity about the regular flow of the […]
There are more essential due dates that are more than the end of this fiscal year that secures a direct link with your money and is going to get finished this month. The last date to furnish the belated or revised ITR, PAN-Aadhaar link, Bank account KYC, and others are some of them. Thus an […]
The properties rented out by the partner to his partnership firm are subjected to pay the GST specified by Tamil Nadu authority for the Advance Rulings (TNAAR). The same would be applied despite when there is NIL rent. The petitioner, Chennai-based Shanmuga Durai is the Managing Partner of a partnership firm and indeed owns individual […]
The Income Tax Appellate Tribunal (ITAT) Delhi bench ruled that under Section 9 (1) of the Income Tax Act, 1961 the activity of inspection and investigation of goods prior to shipment would not be considered as technical and managerial services. Before that the commissioner of the income tax Appeals CIT(A) proved the additions built to […]
An E-commerce seller is known as a seller who lists its products/ services on E-commerce platforms such as Flipkart, Amazon, etc. But the question that arises is whether & what TDS they need to eliminate. The answer would be likely any other business, TDS compliance involves an E-commerce seller just similarly it is applicable to […]
TDS on the paid consideration has been in dispute since the disallowance of the expenses of the gift on the business associates. It is alleged by saying that these gifts are instead of the professional fees, pain in kind, and thus the assessee must deduct and deposit the TDS beneath sections 194J /194C of the […]
