How To Handle Inheritance Issues on the Death of a Parent/ Spouse? Moneylife Digital Team 26 February 2021 PERSONAL FINANCE Whether sudden or unexpected, the death
Day: March 5, 2023
👍👍👍👍👍AO must give TDS credit on furnishing of TDS certificate by Assessee despite mismatch with NSDL data
Clipped from: https://taxguru.in/income-tax/ao-tds-credit-furnishing-tds-certificate-assessee-despite-mismatch-nsdl-data.html Machine Tools India Ltd. Vs ACIT (ITAT Kolkata) CBDT has issued instruction from time to time to the AO’s qua the manner of
👍👍👍👍👍Additions cannot be made merely on the basis of Form 26AS
Clipped from: https://taxguru.in/income-tax/additions-basis-form-26as.html Sureshkumar K Kataria Vs DCIT (ITAT Rajkot) ITAT notes that there was mismatch in the gross income reported by the assessee viz a
👍Validity of Second notice issued under Section 148 of Income Tax Act without disposing return filed to first notice
Clipped from: https://taxguru.in/income-tax/validity-second-notice-issued-section-148-income-tax-act-disposing-return-filed-first-notice.html Messrs. Elite Pharmaceuticals And Anr Vs ITO (Calcutta High Court) A short question of law involved in this writ petition is that whether
👍👍👍👍👍Income Tax- What is New Provision of 43B For Micro & Small Enterprises
Clipped from: https://taxguru.in/income-tax/income-tax-provision-43b-micro-small-enterprises.html In order to promote timely payments to “Micro and Small Enterprises” In Budget- 2023, it is proposed to include payments made to such enterprises
👍👍👍👍👍Addition to difference in Stock as per Books and Valuation Report can’t be made without Credible Evidence: ITAT
Clipped from: https://www.taxscan.in/addition-to-difference-in-stock-as-per-books-and-valuation-report-cant-be-made-without-credible-evidence-itat-read-order/253906/ The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that an addition on the difference in stock as per books and valuation
👍👍👍👍👍Measures taken for increasing access to credit and finance for MSME
Clipped from: https://taxguru.in/corporate-law/measures-taken-increasing-access-credit-finance-msme.html 1.19 crore borrowers benefit from guarantees amounting to Rs 3.61 lakh crore under ECLGS as on 31st January 2023 The Emergency Credit Line
👍👍👍👍👍Certification of MSME
Clipped from: https://taxguru.in/corporate-law/certification-msme.html WHO IS MSME? In accordance with the provision of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 the Micro, Small and Medium Enterprises (MSME)
👍👍👍👍👍No penalty if Assessee revises return before completion of Assessment & correct Bonafide mistake
Clipped from: https://taxguru.in/income-tax/penalty-assessee-revises-return-completion-assessment-correct-bonafide-mistake.html Shri Altaf Hussain Laskar Vs DCIT (ITAT Guwahati) The case of the assessee is that he has committed certain mistakes in computing the
👍👍👍👍👍Section 263 notice issued to a person after his death is invalid
Clipped from: https://taxguru.in/income-tax/section-263-notice-issued-person-death-invalid.html Mohammad Sharif Siddiqui (Through legal Heir Suhail Siddiqui) Vs ITO (ITAT Mumbai) In the assessment order itself, the learned Assessing Officer has mentioned
👍👍👍👍👍Rajasthan HC stays Time barred Re-assessment Proceedings
Clipped from: https://taxguru.in/income-tax/rajasthan-hc-stays-time-barred-re-assessment-proceedings.html Rajendra Bana Vs ITO (Rajasthan High Court) Shri Vedant Agarwal, learned counsel representing the petitioner drew the Court’s attention to the order dated
👍👍👍👍👍Reassessment proceedings becomes null & void if no valid service of section 148 notice
Clipped from: https://taxguru.in/income-tax/reassessment-proceedings-null-void-valid-service-section-148-notice.html Chitra Supekar Vs ITO (Bombay High Court) We have heard both counsels at length and have perused the proceedings. we agree with the
Penalty order cannot be passed without serving SCN
lipped from: https://taxguru.in/custom-duty/penalty-order-passed-serving-scn.html Sun Aviation Pvt. Ltd. Vs Commissioner of Customs (Export) (Delhi High Court) The Hon’ble Delhi High Court in M/s. Sun Aviation Pvt. Ltd. v. Commissioner of
👍👍👍👍👍All about HRA Exemption, Eligibility, Limit etc.
lipped from: https://taxguru.in/income-tax/hra-exemption-eligibility-limit.html What is HRA- House Rent Allowance HRA is paid to Salary individuals by the employer. HRA exemption can be claimed only by Salaried
👍Exemption u/s 54 to extent of non-deposit of unutilized amount in ‘Capital Gain Account Scheme’ not available
Clipped from: https://taxguru.in/income-tax/exemption-u-s-54-extent-non-deposit-unutilized-amount-capital-gain-account-scheme-available.html Ramalingam Nagarajan Vs ITO (ITAT Chennai) ITAT Chennai held that exemption under section 54 of the Income Tax Act not allowable to the
👍👍👍👍👍Tax liability on Composite & Mixed Supply under GST act 2017
Clipped from: https://taxguru.in/goods-and-service-tax/tax-liability-composite-mixed-supply-gst-act-2017.html In this article provisions regarding levy of tax on composite supply and mixed supply are discussed. Levy of GST on supply of goods
👍👍👍👍👍Taxation of taxpayers opting for presumptive taxation schemes
Clipped from: https://taxguru.in/income-tax/taxation-taxpayers-opting-presumptive-taxation-schemes.html To give benefit to small taxpayers from the exhausting job of maintaining books of account and getting the accounts audited, the Income-tax Act
👍👍👍👍👍Mere ‘reason to believe’ not satisfy condition for reopening of assessment
Clipped from: https://taxguru.in/income-tax/mere-reason-believe-satisfy-condition-reopening-assessment.html Punia Capital Pvt. Ltd Vs ACIT (Bombay High Court) The Hon’ble Bombay High Court in Punia Capital Pvt. Ltd. v. the Assistant Commissioner of
👍👍👍👍👍How NRI can save TDS on selling immovable property in India
Clipped from: https://taxguru.in/income-tax/nri-save-tds-selling-immovable-property-india.html Are you an NRI facing huge TDS on sale of your immovable property located in India? If yes, this article is for you
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