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The Income Tax Appellate Tribunal, Jaipur Benches, “B” Jaipur, during deciding the petition furnished to it through the taxpayer ruled that registration aimed u/s 12AA(1)(a) of the Act could not be refused for the submission of original documents and that self – certified copy or instruments must get acknowledge enough for that. Tribunal has made […]
Towards commissions paid to the banks, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the TDS provision would not be applicable. The two-member bench of Saktijit Dey (Judicial Member) and Dr B.R.R. Kumar (Accountant Member) sees that the commission furnished to the partners would not be covered under section 194H of […]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has permitted the 60% depreciation on ATM machines as appropriate to computer software. The two-member bench of Sonjoy Sharma (Judicial Member) and G. Manjunatha (Accountant Member sees that once the taxpayer would be qualified for 60% of the depreciation on ATM machines, the Assessing Officer […]
The Kolkata Bench Income Tax Appellate Tribunal (ITAT) does not have ordered any TDS on payment of fees for technical services (FTS) to non-residents not having a Permanent Establishment (PE) in India. The two-member bench of Rajpal Yadav (Vice President) and Rajesh Kumar (Accountant Member saw that the payment incurred to the non-resident recipients who […]
![Delhi ITAT's Order for M/s Expeditors International [I] Pvt. Ltd.](https://blog.saginfotech.com/wp-content/uploads/2022/09/delhi-itat-order-for-ms-expeditors-international-150x150.jpg)
The Delhi Income Tax Appellate Tribunal (ITAT) ruled that the payments to agents of foreign shipping companies are exempt from TDS deduction. The two-member bench of Saktijit Dey (Judicial Member) and N.K.Billaiya (Accountant Member) sees that provisions of section 172 of the Income-tax act, 1961 would be applicable to the payments incurred to the agents […]
The Income-tax department has undertaken search operations at over 100 locations in various states such as Maharashtra, Delhi, Haryana, and Uttar Pradesh. They performed Income-tax surveys in different locations all over Delhi. As per the tax administrators, the held investigation was performed because of some alleged mismatches in funding these bodies. The searches were performed […]
The Central Board of Direct Taxes (CBDT) furnishes the policies applicable for the compounding of violations under the Income Tax Act, of 1961. Compounding of violations in the normal form does not count under the right. But the offences might be compounded via competent heads on the upon eligibility satisfaction conditions mentioned in the same […]
Latest Amendments Under Section 44AB Section 44AB of the Income Tax Act, 1961 was inserted which come into force from the date 1.4.1985 (AY 1985-86) and additional revisions were incurred over time. Currently, the section exists 44AB under the AY 2022-23. Latest Update An Audit of the Individual’s Accounts Relating Businesses or Professions According to […]
The Central Board of Direct Taxes dated 13 September furnished a circular for the elimination of the issues in Section 194R that obligated the responsibility to the individual for giving the advantages to the resident to deduct tax at source with 10%. Before that, the Finance Act 2022 inserted a new section 194R in the […]
