https://taxguru.in/income-tax/analysis-provisions-section-50-d-income-tax-act-1961.html
Day: March 27, 2025
@ITAT Rules Step-Siblings Are ‘Relative’, Gift Received Not Taxable u/s 56(2) of Income Tax
Clipped from: https://www.taxscan.in/step-siblings-included-in-relative-definition-gift-received-not-taxable-u-s-of-income-tax-itat/501493/ The ITAT held that a gift received from a step-sister qualifies as exempt under Section 56(2)(vii) of the Income Tax Act, recognizing step-siblings
*******CESTAT Quashes Incorrect Service Tax Demand Due to TDS Amount Inflating Taxable Value
Clipped from: https://www.taxscan.in/incorrect-service-tax-demand-based-on-tds-amount-cestat-quashes-demand-for-inflated-taxable-value/501828/ It observed that TDS was deducted from the amount paid to the appellant, making the paid amount the actual gross amount By Sneha Sukumaran
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