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The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that leave and pension contributions to state government employees do not be treated as fake and granted relief to Vishakhapatnam Port Road Company Ltd. The petitioner, Vishakhapatnam Port Road Company Ltd., has the business of constructing, operating and maintaining the toll roads for enough connectivity to […]
Most of the contributors to India’s economy are the Micro, Small, and Medium Enterprises (MSME) sector along with Indian Startups being the prime contributors. All of these would sum up greater potential for the manufacturing, services, and export industries and provide employment in the country. As this becomes essential for these businesses to know the […]
The Kolkata Bench of the ITAT has refused the revisionary order that the Income Tax Authority is passing without quoting Document Identification No. (DIN) in the mentioned order, as required by the CBDT Circular No.19/2019, on 14.08.2019. The Bench, consisting of Mr Sanjay Garg (Judicial Member) and Mr Girish Agrawal (Accountant Member), ruled that since […]
The income tax department has found that towards the AY 2022-23 they had obtained more than 2 cr ITR. The former date to furnish the yearly Income tax return for the salaried assessee and the non-auditable cases would be 31st July. “Income Tax e-filing portal has received more than 2 crore Income Tax Returns (ITRs) […]
We want to put on record our sincere appreciation to your good office and the government for the complete and robust response to the pandemic and the next action chosen to enhance the economy. We have admired the work of the government toward the rectification of the latest income tax filing portal which works much […]
The Central Board of Indirect Taxes and Customs (CBIC) will circulate a standard operating procedure (SOP) for serving summons along with the notices under the goods and services tax (GST) regime, to limit the harassment of businesses. The latest SOP would permit the board to track the GST probe, along with its progress and the […]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, ruled that rural agricultural land taken via Government for business activity u/s 2 (13) is qualified for Exemption. The taxpayer, Shri Jitendra Shanabhai Patel secures his income from the salary, capital gain, and income from additional sources. The taxpayer would pay the income tax return showing the […]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) which consists of Shri Saktijit Dey, Judicial Member Shri Pradip Kumar Kedia, Accountant Member has allowed TDS credit to the assessee in the assessment year when the credit accrued subject to conditions that the assessee had not claimed the same in the past years and […]
SAG Infotech is a leading tax software development company in India since 1999 with Income Tax, TDS, MCA and GST software. The company holds a well-built network in more than 80 cities network with a strong base of 50,000+ clients across India. A total of 200+ technical executives as the company holds 9 certifications and […]
