Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Simple Meaning of TDS Challan TDS challans are used to deposit TDS with the Indian government. There is only one challan that can be utilised for depositing taxes collected under each section of the Income Tax Act. Assessees who want to pay the TDS without a challan must deposit the TDS collected on the same […]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench towards appeal stated that penalty does not be levied under Section 44A and 44B Income Tax Act, 1961 when the commission receipt of the taxpayer was less than the threshold limit of the relevant assessment year. The taxpayer is Devki Nandan Bindal who is involved in cheque/ […]
A Division Bench of the Income Tax Appellate Tribunal (ITAT), Ahmedabad quashed the assessment order issues for the breach of the time limit under Section 153(1) of the Income Tax Act, 1961. The taxpayer, Smt. Rashidaben Taher would be the individual and the non-resident Indian. For the assessment year 2015-16, the taxpayer has furnished the […]
Exemption to the Vodafone Idea ltd, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) stated that the Sale of prepaid sim cards/recharge vouchers to distributors could not be treated as commission to draw Section 194H of the Income Tax Act,1961 and no tax deducted at source(TDS). Shri J D Mistry appeared for the […]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the Income Tax Addition under section 68 of the Income Tax Act,1961 does not become valid in the absence of any books of account. The Assessing Officer for the course of assessment proceedings remarked under the written Page No 7 of Annexure A/PMB/O1 […]
Simple Meaning of ITR-U Form Has your ITR ever been misinterpreted, or have you forgotten to report an income? Within two years, you can update your Income Tax Return (ITR U) under section 139(8A) of the Income Tax Act. It is calculated two years from the date of filing the original return. Taxpayers were instructed […]
Form 15G for the provident fund (PF) withdrawal would be the self-declaration form which confirms the petitioner that there shall be no TDS deduction when they withdraw their provident fund before the provided fiscal year. Under the norms of income tax, when the employee withdraws via provident fund prior to completing 5 years with the […]
The Delhi High Court has stopped the assessment order passed without issuing a show cause notice or a draft assessment order which has been ordered under Section 144B(1)(xvi)(b) of the income tax Act. The division bench of Justice Manmohan and Justice Navin Chawla rendered the department to issue a show-cause notice within 4 weeks. The […]
The Kerala High Court stated that Section 119(2)(b) of the Income Tax Act does not levy any limitation for the purposes of application filing for the condonation of delay. A single bench of Justice Gopinath P, sees, the same is wrong on the portion of the council to treat the filing date of the application […]
