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Search results for: Income Tax Act

Delhi High Court's Order For Bajrang

Delhi HC: Eligible Meritorious Candidates Scholarship Available If ITR Filed

The Delhi high court sees that the only mistake to furnish the ITR certificate rather than the income certificate could not be directed to the condition in which a qualified candidate would be unable to get the scholarship when the 2 documents confirm the “same parameters of income requirements”. Justice Prathiba M Singh mentioned during […]

Relief to Non-Residents from Filing 10F Form

I-T Dept Grants Partial Relief for Non-Residents From 10F Filing

CBDT provides partial relief to the non-resident assessees who do not secure PAN through the electronic filing of Form 10F until March 2023. The filing of the same form would require the order to claim the advantages of the Double Taxation Avoidance Agreements (DTAA). For claiming the advantages a non-resident assessee is required to furnish […]

Mumbai ITAT's Order for M/s. Arshiya Rail Infrastructure Ltd

ITAT: Reasons for Reassessment Can’t be Added, Deleted or Modified

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) stated that the causes would have been recorded for opening the assessment again and is to be read since the same was recorded via the Assessing Officer and could not be increased. The Assessing Officer, with a total income of Rs. 9,81,60,144 has fled assessment, […]

Avoid Tax Notices & Penalties by Filing ITR by 31 Dec

Considering Penalties & Notices! File Belated ITR By Dec 31

The assesses who overlooked the date of filing the ITR on 31st July 2022 should file their late ITR by 31st December. Tax experts mentioned that “This deadline applies to all types of taxpayers, including individual, corporate, audit, and non-audit.” A late return could get furnished for the former year at any time three months […]

CBDT Circular No. 24/2022

CBDT Cir No. 24/2022: Covid Treatment Not Perquisite, No TDS Deduction

The Central Board of Direct Taxes (CBDT) provided in a circular dated 7th Dec, that the value of medical treatment furnished to the employee or any member of his family in any hospital that the employer maintained via the employer or any sum furnished via an employer for any expenditure made via the employee on […]

A Guide to File Revised ITR Via Gen-IT Software

Step-by-Step Guide to File a Revised ITR By Gen-IT Software

Simple Meaning of Revised ITR for Assessees The purpose of a revised return is to correct any omissions or errors made when filing your original ITR. When you file a revised return, you simply file it again with the correct information. You must include details of the original return when filing a revised return. Who […]

Hyderabad ITAT's Order for Ascend Telcom Infrastructure (P) Ltd.

ITAT: Extra Proof Can’t Be Considered Without Getting Remand Report from A.O.

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) stated the additional proof could not be considered without calling for a remand report or comments via AO. The two-member bench of Lalit Kumar (Judicial Member) and R.K. Panda (Accountant Member) sees when the CIT(A) opts to admit any other proof then in that case […]

Tips for Handling Real Estate Accounting

Best Effective Tips to Handle Real Estate Accounting Work

Real estate companies would have much more financial data for monitoring such as rental income, property sales, commission payments, etc. Ineffective accounting management leads to emerging issues. The major step in handling the finances is to ensure that all the income along with the expenses would be recorded precisely. It renders that posing a system […]

LLP Form 3 Filing Guide Via Gen Complaw Software

Easy Process to File LLP 3 Agreement Form Via Gen Complaw

Simple Definition of LLP Agreement Form 3 LLP Form 3 is used for filing the Limited Liability Partnership Agreement in the case of a newly formed Limited Liability Partnership and for making changes to an existing Limited Liability Partnership. In order to submit Form 3, an LLP agreement must be signed. It is required that […]

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