Clipped from: https://www.thehindubusinessline.com/todays-paper/2023-04-24/bl_chennai/articleGMJB57DAO-2764735.ece Hamsini Karthik Under the lens. With loans via this route zooming, concerns emerge over oversight After coming down heavily on the banks-fintechs partnerships,
Day: April 24, 2023
👍👍👍👍👍👍👍How an Association of Persons will be taxed
Clipped from: https://taxguru.in/income-tax/association-persons-taxed.html Introduction An association of persons (AOP) , whether incorporated or not, is treated as a ‘person’ under section 2(31) of the Income-tax Act,
👍👍👍👍👍Amendment to Section 43B by Finance Act 2023 & its implication on business
Clipped from: https://taxguru.in/income-tax/amendment-section-43b-finance-act-2023-implication-business.html CA Mahesh Agarwal Through the Finance Act 2023 a new clause (h) has been added to Sec. 43B of the Income Tax Act and is
👍👍👍👍👍Courts shall not go strictly by the Rulebook to deny justice
Clipped from: https://www.taxscan.in/courts-shall-not-go-strictly-by-the-rulebook-to-deny-justice-to-deserving-litigant-as-it-would-lead-to-miscarriage-of-justice-itat/270859/ Courts shall not go strictly by the Rulebook to deny Justice to Deserving Litigant as it would lead to Miscarriage of Justice: ITAT
👍Interest paid on delayed payment of TDS not penal in nature: ITAT Allows Deduction u/s 37
Clipped from: https://www.taxscan.in/interest-paid-on-delayed-payment-of-tds-not-penal-in-nature-itat-allows-deduction-u-s-37/270819/ The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction under Section 37 of the Income Tax Act 1961 holding that the interest paid
Distributor Not Required to Deduct TDS on Payment of Turnover Discount to Dealers u/s 194H of Income Tax Act: ITAT
Clipped from: https://www.taxscan.in/distributor-not-required-to-deduct-tds-on-payment-of-turnover-discount-to-dealers-u-s-194h-of-income-tax-act-itat-read-order/271284/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Distributor%20Not%20Required%20to%20Deduct%20TDS%20on%20Payment%20of%20Turnover%20Discount%20to%20Dealers%20u/s%20194H%20of%20Income%20Tax%20Act:%20ITAT The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the discount paid to dealers by the distributor in the nature of turnover discount is not
No Addition can be made Against Individual for Cash Deposit of Tuition Fee received from Students during Demonetization Period: ITAT
Clipped from: https://www.taxscan.in/no-addition-can-be-made-against-individual-for-cash-deposit-of-tuition-fee-received-from-students-during-demonetization-period-itat-read-order/271364/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=No%20Addition%20can%20be%20made%20Against%20Individual%20for%20Cash%20Deposit%20of%20Tuition%20Fee%20received%20from%20Students%20during%20Demonetization%20Period:%20ITAT The Income Tax Appellate Tribunal (ITAT), Mumbai bench, has deleted an addition under section 69A of the Income Tax Act, 1961 in respect of cash deposit during demonetization
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