Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Income Tax Department of India has surged the tracking of high-value credit card transactions according to its efforts to curb tax evasion and assure effective tax compliance. How IT Dept Monitoring High-value Credit Card Transactions? In the section below, we discuss the procedure used by the income tax department to monitor high-value credit card […]
CBDT Circular No. 09/2024-Income Tax Dated: 17/09/2024: Enhancement of Monetary limits for filing of appeals by the Department before ITAT, High Courts, and SLPs/appeals before Supreme Court. Introduction of CBDT Circular No. 9/2024 A series of circulars have been issued by the Central Board of Direct Taxes (CBDT) on distinct occasions that are binding on […]
The Delhi High Court in a judgment ruled that the income tax department could not refuse the refund claim of the assessee as the Tax Deducted at Source TDS is not shown in Form 26AS. The order of the department has been quashed by the court rejecting the application of the assessee to file an […]
The Madras High Court quashed the income tax addition as a wrongful deduction u/s 194-IB rather than Section 194C of the Income Tax Act, 1961. Three additions have been offered by the respondents to the income shown, however, the additions were dismissed without enough reasoning. The assessment proceedings started following the applicant’s ITR filing for […]
If you receive a TDS mismatch notice from the income tax department, SAG Infotech can guide you through the entire process of resolving this error legally. A technical professional from a reputed company was surprised to obtain a tax demand of approximately Rs 1.98 lakh concerned with his income tax return (ITR) filed for the […]
A demand notice has been received before various TCS employees from the income tax department for the alleged discrepancies in their tax deduction at source (TDS) claims. The IT giant TCS has asked its employees to wait for additional instructions before paying the sought amount. Between Rs. 50000 to Rs. 1.5 lakh, the tax demand […]
The Agro Food Chamber of Commerce and Industry (AFCCI) in Madurai has appealed to Union Finance Minister Nirmala Sitharaman to simplify GST laws at the forthcoming 54th council meeting scheduled for September 9. The aim is to ensure that entrepreneurs do not suffer. The current GST is full of complexities and is not easy to […]
In a recent development, the Central Board of Direct Taxes (CBDT) has issued a directive to the Income Tax department, underscoring the imperative need for “non-intrusive” monitoring of widespread cash transactions in sectors such as luxury brand sales, hotels, hospitals, and IVF clinics. This directive forms a pivotal component of the CBDT’s Central Action Plan […]
For the AY 2018-19 the income tax department has begun investigating the cases to find which of them required to be reopened, a process that may result in tax notices. In the matters of escaped income, this follows the union budget proceeds to lessen the time limit for tax reassessment from 10 years to 5 […]
