The income tax department has issued guidance on updating UDIN for Audit Reports submitted by CA users which have to read in conjunction with the Instruction for UDIN Functionality.
The functionality for updating UDIN against the Audit reports submitted by CA users has been enabled at the e-filing portal http://www.incometax.gov.in. This functionality may not be used for updating UDIN for Forms submitted prior to April 2021. In this functionality, only those Forms will be shown which are accepted by the Assessee.
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- Completion of Construction irrelevant to Apply S. 54F: ITAT allows Capital Gain exemption since Sale Deed was Registered within Prescribed Time [Read Order]
- April 18, 2022
- The Bangalore bench of the ITAT has held that the date of completion of construction of new property is irrelevant to allow exemption under section 54F of the Income Tax Act, 1961 and the same is allowable if the ownership of the property is transferred to the assessee within the prescribed statutory period. The income […]
- No Penalty on Receiving Cash Loan from Family Members to Meet Business Exigency: ITAT [Read Order]
- April 18, 2022
- The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the penalty under sections 271D and 271E of the Income Tax Act, 1961 cannot be leviable on receipt of cash loan from family members to meet business exigencies. The assessee is engaged as a transporter and has not maintained any regular books of account. […]
- Set Back to Infosys; Payment of Sub-Contracting Charges to Subsidiary is Liable to TDS: ITAT [Read Order]
- April 18, 2022
- The Bangalore bench of Income Tax Appellate Tribunal ( ITAT ) has held that payment of sub-contracting charges to subsidiary is liable to Tax Deduction at Source. The assesse, M/s.Infosys Limited is an Indian company, engaged in the business of development and export of computer software and related services. Infosys Technologies (China) Co. Ltd. (Infosys […]
- Claim for Duty Drawback is not Bar for Refund of ITC: Madras High Court [Read Order]
- April 18, 2022
- The Madras High Court has held that claim for duty drawback is not bar for refund of ITC Integrated Goods and Services Tax Act, 2017 The petitioner Numinous Impex (I) Pvt. Ltd exported consignments of goods and claimed duty drawback under the provisions of Customs and Central Excise Duties and Service Tax Drawback Rules, 2017 […]
- Completion of Construction irrelevant to Apply S. 54F: ITAT allows Capital Gain exemption since Sale Deed was Registered within Prescribed Time [Read Order]
- April 18, 2022
- The Bangalore bench of the ITAT has held that the date of completion of construction of new property is irrelevant to allow exemption under section 54F of the Income Tax Act, 1961 and the same is allowable if the ownership of the property is transferred to the assessee within the prescribed statutory period. The income […]
- No Penalty on Receiving Cash Loan from Family Members to Meet Business Exigency: ITAT [Read Order]
- April 18, 2022
- The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the penalty under sections 271D and 271E of the Income Tax Act, 1961 cannot be leviable on receipt of cash loan from family members to meet business exigencies. The assessee is engaged as a transporter and has not maintained any regular books of account. […]
- Set Back to Infosys; Payment of Sub-Contracting Charges to Subsidiary is Liable to TDS: ITAT [Read Order]
- April 18, 2022
- The Bangalore bench of Income Tax Appellate Tribunal ( ITAT ) has held that payment of sub-contracting charges to subsidiary is liable to Tax Deduction at Source. The assesse, M/s.Infosys Limited is an Indian company, engaged in the business of development and export of computer software and related services. Infosys Technologies (China) Co. Ltd. (Infosys […]
- Claim for Duty Drawback is not Bar for Refund of ITC: Madras High Court [Read Order]
- April 18, 2022
- The Madras High Court has held that claim for duty drawback is not bar for refund of ITC Integrated Goods and Services Tax Act, 2017 The petitioner Numinous Impex (I) Pvt. Ltd exported consignments of goods and claimed duty drawback under the provisions of Customs and Central Excise Duties and Service Tax Drawback Rules, 2017 […]
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