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It is your problem if you forgot to file your tax within the due date i.e July 31, also CA would not be liable for that, pay attention to it along with the Form 16 bills and various other documents. Choosing a revision, these professionals who work more and are busy with the numbers and […]
The income tax department has mentioned the latest Income tax return forms for the assessment year 2022-23. The assessee needs to show the pension source, interest received from the EPF account, date of purchase or sale of land, and additional things. Below is the list of 6 additional things which taxpayers need to save before […]
For the taxpayer ruling the Bangalore bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri N. V. Vasudevan, Vice President, and Shri Chandra Poojari, accountant member sees that the fact that taxpayer losses to answer to income tax notices because of pandemic situation is a reason for the delay and hence rendered the income […]
The Central Board of Direct Taxes (CBDT) has notified the JSON scheme for the filing of ITR-7. The Income Tax Department had given the free tax return preparation software on the downloads page that is obedient to the data quality needs. But, there are some commercially available software or websites that provide the return preparation […]
What is an Online e-Dispute Resolution Scheme(e-DRS)? The Central Board of Direct Taxes reported the e-Dispute Resolution scheme, 2022 to settle tax disputes. Under section 245MA in the Income-tax Act, 1961 (hereinafter directed to as “the Act”), the Central Board of Direct Taxes (CBDT) notified the e-Dispute Resolution Scheme, 2022 (e-DRS) to decrease litigation and […]
No law has been given in the said section of section 271(1)(c) of the Income Tax Act, 1961 and is deemed incorrect by The New Delhi bench ITAT on the penalty notice under income tax issued. Penalty orders are being obtained by the taxpayer via the income tax department. Attacking the orders, the taxpayer said […]
Every individual who comes under the income chargeable to tax is needed to furnish the ITR to declare their income along with the tax liabilities. However, the income tax laws in India issue the collection or deduction of the tax at source (TDS/TCS) itself. The same gives the assurity about the regular flow of the […]
All About Form 10AB The Finance Act, 2020 has initiated a law where all the trusts in the current scenario need to face the re-registration beneath section 12A and section 80G and the reapproval U/s 10(23C) and Section 35(1). To provide an effect towards the same the latest section 12AB has started with effect from […]
Gujarat High Court held with Justices JB Pardiwala and Nisha M Thakore ordered that no coercive action is needed to be taken with respect to the lawyers to notices provided to them through the Central Goods and Service Tax Department (CGST Department) asking for the payment of service tax/ GST. On hearing the appeal by […]
