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The Income Tax Appellate Tribunal (ITAT), Jaipur bench consisting of DR. S. Seethalakshmi, Judicial Member, and Rathod Kamlesh Jayantbhai, Accountant Member carried that the husband can avail the Capital Gain Exemption for Investment created in the name of the wife. The petition was made by the taxpayer with respect to the order of the commissioner […]
Gujarat High Court ruling that the real value of the land must be deducted prior to imposing the GST on the flats which are under construction will diminish the tax outgo for the homebuyers, given that the contractual arrangements clearly show the value of the land. In the present times, GST is imposed on the […]
GST @ 18% is charged and TDS @ 2% is deductible up on the Google Adwords advertisement expense. The same is essential to find out that some publishers are advertising with the help of the Google entity which is enrolled in India and some of the advertisers are doing the same with the support of […]
The ITAT Ahmedabad bench comprising Shri Waseem Ahmed, Accountant Member, and Ms Madhumita Roy, Judicial Member sees that the car hiring fees come beneath the provision of section 194I of the Income Tax Act, 1961 and the TDS is chargeable when the payment surpasses the limit of Rs. 1.8 lakhs. The assessee has a limited […]
CBDT reported the ITR forms for the AY 2022-23, with respect to FY 2021-22. But the applicability of the ITR forms for the various assessee who comes in distinct slabs does not amend, attention has been on some of the amendment. Foreign Assets Reporting Under Income Tax The schedule for FA needs to report the […]
A presumptive scheme beneath the income tax is a popular policy that is been used by businesses and professionals. The same scheme diminishes the load of the income tax provisions on micro and small businesses and professionals. The presumptive tax scheme for the mentioned professionals was made in 2016. The presumptive taxation scheme permits the […]
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 […]
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 […]
International Women’s Day (IWD) is observed every year on 8 March to celebrate all women’s cultural, political, and socio-economic achievements. A country still tackling female feticide in some areas, is seeing a female majority for the first time, which is indeed a great achievement towards a great, sustainable future. However, apart from female feticide, there […]
