Powerd By SAG INFOTECH
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Here’s a simple method to understand ITR processing time. In addition, we provide types of notifications that are sent after the successful processing.
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) ruled that interconnectivity utility charges (IUC) could not be levied to tax as royalty under the India-Austria Double Taxation Avoidance Treaty (DTAA). The bench of Beena Pillai (Judicial Member) and Chandra Poojari (Accountant Member) witnessed that payments that the taxpayer obtained for interconnectivity utility levies […]
A change to section 80 LA of the Income Tax Act, 1961 would have been reported by the Central Board of Direct Taxes (CBDT). The central government through the use of the powers granted by sub-section (1F) of section 197A read with clause (c) of sub-section (2) of section 80LA, of the Income-tax Act, 1961 […]
Various prominent social media influencers would come under investigation from the income tax department concerning tax fraud, as revealed in the list. Although the identities of these people are kept a secret, it is clear that tax officials are taking action against influencer tax avoidance. To prevent any legal repercussions, it is essential for social […]
The GST evasion investigation agency shall finish its probe in 30 insurance companies. The Directorate General of GST Intelligence (DGGI) would have finished the investigation in 15 of them fetching the ITC differences to the tune of 3500 cr. The same would be under the procedure of sending the notices to the left 15 people […]
The Kolkata Bench of Income Tax Appellate has released an order for the reassessment regarding a case where there was an error found in Tax Deducted at Source (TDS) reported in Form 26AS and the profit and loss account. This difference occurred because of inadequate required evidence. Regarding the AY 2015-16, the assessee filed an […]
The Income Tax Department, in its next drive, handing over a target of 50 cases per Assessing Officer for a survey or online TDS verification. It has 16 parameters that could be followed to pick up these cases. These criteria include cases of sick units or units with negative operating margins, cases indicating a negative […]
The Income Tax Appellate Tribunal (ITAT), the Chennai bench instructed to adjudicate on the basis of non-verification of further evidence by the Assessing Officer (AO). The assessee filed ITR (Income Tax Return) for the AY 2015-16 on 30/11/2015 showing NIL income and the loss of ₹.7,87,45,865/- in the current year. The AO observed that the […]
Along with the revisions in the insurance laws and Insolvency and Bankruptcy Code the key economic bills would be ready and might be tabled in the forthcoming Monsoon Session of Parliament that begins from July 20. Such would not be the portion of the list of 21 bills tentatively listed for the introduction, acknowledgement, and […]
