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The TDS Credit was permitted for the assessment year in which income is assessable by the Delhi bench of the Income Tax Appellate Tribunal (ITAT). In addition to operating and maintaining a nursing home, the assessee, Prakash Sunrise Healthcare Limited, has been providing medical treatment to different government workers, including military personnel, on behalf of […]
The yearly payment of lease rentals will be subject to TDS under section 194-I of the Income Tax Act of 1961, according to the Delhi bench of the Income Tax Appellate Tribunal (ITAT). The firm being assessed, Ajnara India Ltd., is in the business of planning and building infrastructure and real estate projects. In order […]
The income tax department has extended the deadline for a variety of compliances linked to the long-term capital gains tax exemption till March 31, 2023, which will be helpful to many taxpayers. In order to claim any exemption under the terms of Section 54 to 54GB of the Income-tax Act, 1961, the Central Board of […]
Here’s what you should do if you work from home for a foreign firm and are unsure if you need to pay income tax. To ascertain your tax due, first examine your resident status in India, any tax deducted at source (TDS), and the Double Taxation Avoidance Agreement (DTAA). Submit Form 67 (foreign tax information), […]
“It is saddening to note that tax evasion has been mushrooming in our State / Country day-by-day, which is purely illegal, and such evasion includes hiding true income and portrayal of false income, not reporting cash flow, etc” In a recent decision, a Division Bench of the Madras High Court expressed its sadness about the […]
A Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that domestic companies must file form 10-IC within the prescribed timeframe if they wish to claim a deduction under section 115BAA of the Income Tax Act. The appellant was represented by Counsel Nihar A. Mehta, and the department was represented by Chetan M. […]
The GST law would pose the major purpose of the tax which is to get collected merely on the value-added. A method is there in India via which the tax suffered at the before time would be permitted to get lessened from the tax subjected to get paid on the supplies. The same prevents the […]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), refused the assessment order on the basis that no action has been made by Assessing Officer (AO) to send the draft assessment order to rectify the address. The taxpayer is the owner of DSV Solutions Pvt ltd and it is since the assessing officer does […]
Individuals seek methods to reduce their income taxes. The illegal income tax savings would be drawn into the light. But the national government gives various ways to diminish taxes. All are counted under statutory compliance and are available for every assessee. The Income Tax Act of 1962 comprises various procedures which permit assessees to diminish […]
