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The Central Board of Direct Taxes (CBDT) gave relief to taxpayers by issuing circular No. 17/2024 on November 17, 2024. As per the circular, taxpayers are allowed the condonation of delays in submitting Form 10-IC and Form 10-ID for the assessment years 2020-21, 2021-22, and 2022-23. This step is taken to ease the burdens faced […]
To address the condonation of delay in submitting required income tax forms, Circular No. 16/2024 dated November 18, 2024, has been issued by The Central Board of Direct Taxes (CBDT). These required income tax forms are- Form No. 9A, 10, 10B and 10BB for the Assessment Year (AY) 2018-19 and the following assessment years. The […]
It was mentioned by the Delhi HC that the wrong citing of the name of the taxpayer in the notice issued to it for the default in deduction of tax at source is just a clerical error. Therefore a division bench of Justices Yashwant Varma and Ravinder Dudeja carried that Show Cause Notice (SCN) along […]
It was carried by the Madhya Pradesh High Court (HC) that an order passed u/s 148A(d) of the Income Tax Act 1961 is not an appealable order hence the mere remedy with an aggrieved party is to invoke the writ jurisdiction of the HC. The proceedings under section 148A are initiated when the income tax […]
In the last few years, Limited Liability Partnerships (LLPs) have become popular within the small businesses landscape. LLPs provide limited liability, shielding partners’ assets from business responsibilities and liabilities. This structure has made LLPs most adopted by various professionals, including consultants, doctors, lawyers, and accountants. Since their introduction in 2008, LLPs have gained significant popularity […]
It was carried out by ITAT Chennai that the condonation of delay must not be dismissed for the cause that the plea submitted belatedly is not accompanied by the condonation petition. Therefore the order has been set aside and the case remanded back. Key Facts and Information The petitioner vides the present plea challenged that […]
The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) in a ruling quashes the disallowance u/s 36(1)(iii) of the Income Tax Act, 1961, on interest-free advances provided to the assessee’s sister concern. For the case when the taxpayer Deccan Charters Pvt. Ltd., a company in the aviation services business based in Bengaluru […]
The provisions for Tax Deducted at Source (TDS) under GST as specified in section 51 of the CGST Act, were initially restricted to the government entities and public sector units (PSUs). Below mentioned are the suggestions of the GST council in its 54th meeting, the Notification No. 25/2024-CT dated 9th October 2024 has been issued […]
The Central Information Commission ( CIC ) noted that the GST returns information could not be filed u/s 158(1) of the Central Goods and Services Tax Act ( CGST Act ), 2017. It was cited that the General Laws could not override the special law with the Non-Obstante Clause carrying the Supreme Court’s decision in […]
