Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
There are various queries that might be in the minds of various assessee for the subject of ITR filing particularly the new taxpayers as the season of ITR filing would be about to initiate. Here the question emerges is what the term TAN or Tax deduction and collection account number stands for and what would […]
The Income Tax Appellate Tribunal’s Delhi Bench has told businesses that if they want to avail themselves of the income tax deduction benefits, they have to deposit employees’ EPF and ESI on time. The Supreme Court’s decision was upheld by a two-member bench of Narendra Kumar Choudhary, a judicial member, and Anil Chaturvedi, an accountant […]
The GST department will start examining the Income tax returns furnished through the business and professionals, indeed MCA filing to find out if the entities are enough to release their GST liability and broaden the base of the assessee. At present, there would be 1.38 cr enrolled businesses and professionals beneath the GST that was […]
The advance tax does not subject to be paid through the taxpayer when his age is more than 60 years and poses zero business income, Delhi Bench of Income Tax Appellate Tribunal (ITAT). The data obtained elaborates that an immovable property would have been sold in FY 2009 by the taxpayer Vikram Singh. Under Section […]
Due to underreporting of income on tax returns compared to the Annual Information Statement for the fiscal year 2019–20, the income tax office has reportedly identified some 68,000 instances of e-verification. The e-verification technique comprises notifying taxpayers of any anomalies between their financial activity and the Income Tax Returns filed. In around 56% of the […]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench has ordered re-adjudication after the assessee passed away during the income tax assessment process. The taxpayer Salochna Devi is the legitimate heir of Rakesh Kausik (Rakes Kosik), Chanda Kosik. Under Section 147 of the Income Tax Act, of 1961, the taxpayer’s case was reopened on the grounds […]
According to a recent ruling by the Income Tax Appellate Tribunal (ITAT) Amritsar Bench, cash deposits of agricultural income are not taxable. The assessee’s case was reopened under Section 148 of the Income Tax Act on the basis of reasons recorded after receiving joint commissioner of income tax approval, to sum up, the situation briefly. […]
The Chennai branch of the Income Tax Appellate Tribunal (ITAT) recently ruled that submitting the audit report required by section 44B of the Income Tax Act of 1961 together with the Income Tax Return will not result in a penalty. The amount specified in subclause 2 of the aforementioned section shall be deemed to be […]
Recently, the Income Tax Appellate Tribunal (ITAT) disallowed capital gains tax exemptions on the sale of land in two separate cases heard by its Chennai and Pune benches. The cause was that no agricultural work had been done. A capital gain on the transfer of agricultural land may be exempt from taxation under section 54B […]
