Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Vinay Pratap Singh, deputy commissioner-cum-excise and taxation commissioner, assured on Tuesday that the procedure will be restricted to physical verification alone and will not in any way involve an inspection of the taxpayers’ commercial properties. The initiative is part of a unique, two-month nationwide campaign that the central and state GST administrations initiated from May […]
The existing notes will remain legal tender, the RBI announced on Friday, and ₹2000 notes will be removed and added. According to sources aware of the move, sudden significant deposits in numerous Jan Dhan accounts may also be examined in an effort to uncover tax evaders using third-party bank accounts to hide their income while […]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, in response to an appeal, after finding that the basic condition as specified under Section 271(1)(c) is not fulfilled, removed the penalty being levied by the Revenue. The Delhi ITAT made the decision when an assessee filed an appeal regarding the directive against the order dated 15.11.2019 […]
When the professional receipts exceed Rs 50 lakhs of the individual then the advantage of the Presumptive Tax under Section 44ADA can not be taken. In that case, the individual is needed to create the profit and loss account and balance sheet and get his audit performed via a practising Chartered accountant. Latest Updates Tax […]
The Ministry of Corporate Affairs has taken a severe stance against experts who help firms incorporate by fraudulently claiming that they have visited the designated registration office. As per the person who is known with the development, the ministry had shown its concerns about the fake certification of company premises to its field officers and […]
In an appeal about the secondary and higher secondary cess, the Income Tax Appellate Tribunal (ITAT), Kolkata bench ruled that their education cess is part of tax and therefore no deduction will be provided. The statement was held by the Kolkata ITAT when it received an appeal from an assessee. The assessee is challenging the […]
The income tax rates have undergone some noteworthy adjustments this year, according to the Finance Ministry. The income tax slab for FY 2023–24 as well as information on the old and new tax regimes can be found on this page if you’re looking for information on the rates and slabs of income tax that will […]
Recently, an appeal was filed by the Chennai Bench of the Income Tax Appellate Tribunal (ITAT). The bench appealed, arguing that when disapproval is made on an estimated basis, an income tax penalty cannot be imposed under Section 270A of the Income Tax Act, 1961. The study and analysis of the scenario were conducted by […]
It’s terrible news for the sector since the Supreme Court ruled that simply producing an invoice and a check payment is inadequate to claim ITC (Input Tax Credit). Analysts believe despite this order is concerned with problems under Value Added Tax (VAT) regime, but is likely to have an influence on GST also. The Assessing […]
