Clipped from: https://www.taxscan.in/non-mentioning-of-these-5-incomes-may-attract-income-tax-notice-know-the-details/302024/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Non-Mentioning%20of%20These%205%20Incomes%20May%20Attract%20Income%20Tax%20Notice:%20Know%20the%20Details As the date for submitting Income Tax Returns (ITR) draws near, it is important to ensure that you submit your returns promptly. It is important
Author: Anil R Tikotekar
मी यापूर्वी बँक ऑफ महाराष्ट्र मध्ये क्षेत्रीय अधिकारी म्हणून काम करत होतो. मुंबई, पुणे, सोलापूर, कोल्हापूर व लातूर येथे काम करण्याचा अनुभव आहे . १६ वर्षे मनेजर म्हणूनही काम केले आहे तसेच बँक ऑफ महाराष्ट्र मधील ट्रेनिंग कॉलेज मध्ये शिकवण्याचा देखील अनुभव आहे. माझा इमेल aniltikotekar@gmail.com असा आहे. माझी website अजून चांगली कशी होईल याबाबत सूचनांचे स्वागतच आहे. कोणत्याही आर्थिक फायदा मिळवावा अशा हेतूने ही website सुरु केलीली नाही याची नोंद वाचकांनी घेणे गरजेचे आहे. तसेच या संकेतस्थळावर दिला गेलेला सल्लाअमलात आणण्याआधी आपल्या आर्थिक बाबी माहित असण्याऱ्या व्यक्तींचा [ जसे की CA ] सल्ला घ्यावा. समाजातील काही घटनांना थोडीशी जरी मदत झाली तरी हा प्रयत्न थोडाफार तरी यशस्वी झाला असे म्हणता येईल.
India bans white rice exports forthwith to control price – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/agri-business/india-bans-white-rice-exports-with-immediate-effect/article67101659.ece Clipped from: https://www.thehindubusinessline.com/economy/agri-business/india-bans-white-rice-exports-with-immediate-effect/article67101659.ece CBOT rice futures gain over 1%; Govt’s hands forced by 23% rise in FY23 shipments despite curbs The Indian government on Thursday
Infosys slashes FY24 guidance as clients cut spends, defer decisions – The Hindu BusinessLine
https://www.thehindubusinessline.com/info-tech/infosys-q1-profit-up-11-yoy/article67101348.ece Clipped from: https://www.thehindubusinessline.com/info-tech/infosys-q1-profit-up-11-yoy/article67101348.ece Amidst an uncertain demand environment, IT major Infosys has lowered its revenue guidance steeply to 1-3.5 per cent from 4-7, as the company said
28% GST on horse race betting a great disappointment: TAI – The Hindu BusinessLine
https://www.thehindubusinessline.com/news/sports/28-gst-on-horse-race-betting-a-great-disappointment-tai/article67102153.ece Clipped from: https://www.thehindubusinessline.com/news/sports/28-gst-on-horse-race-betting-a-great-disappointment-tai/article67102153.ece TAI asks govt to review the GST rate to support agricultural-based industry The GST Council’s recent decision to impose 28 per cent
Attrition rates in private banks jump to over 30% on increased competition – The Hindu BusinessLine
https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Clipped from: https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Most players such as Axis Bank, Kotak Mahindra Bank and HDFC Bank have reported an increase in the turnover rates Employee turnover
‘De-dollarisation’ pact with UAE, a good step – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/editorial/de-dollarisation-pact-with-uae-a-good-step/article67102013.ece Clipped from: https://www.thehindubusinessline.com/opinion/editorial/de-dollarisation-pact-with-uae-a-good-step/article67102013.ece The UAE is India’s major trading partner and home to a large India Diaspora The Russia-Ukraine war and the resulting disruption in
Re internationalisation is not easy to achieve – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/re-internationalisation-is-not-easy-to-achieve/article67102589.ece Clipped from: https://www.thehindubusinessline.com/opinion/re-internationalisation-is-not-easy-to-achieve/article67102589.ece More than size of the economy and exports, credit rating and perceptions play a role in the rupee gaining universal acceptance It
Is tax regime for online gaming fair? – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/is-tax-regime-for-online-gaming-fair/article67102633.ece Clipped from: https://www.thehindubusinessline.com/opinion/is-tax-regime-for-online-gaming-fair/article67102633.ece The GST Council’s decision to tax online gaming at 28 per cent and applying that to the entire value of the transaction
Attrition rates in private banks jump to over 30% on increased competition – The Hindu BusinessLine
https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Clipped from: https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Most players such as Axis Bank, Kotak Mahindra Bank and HDFC Bank have reported an increase in the turnover rates Employee turnover
Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC
Read More: https://www.taxscan.in/only-profit-element-of-bogus-purchase-can-be-added-to-taxable-income-under-income-tax-act-when-assessee-reconciled-the-stock-bombay-hc/301700/ Clipped from: https://www.taxscan.in/only-profit-element-of-bogus-purchase-can-be-added-to-taxable-income-under-income-tax-act-when-assessee-reconciled-the-stock-bombay-hc/301700/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Only%20Profit%20Element%20of%20Bogus%20Purchase%20can%20be%20Added%20to%20Taxable%20Income%20Under%20Income%20Tax%20Act%20when%20Assessee%20Reconciled%20the%20Stock:%20Bombay%20HC The Bombay High Court has held that only the profit element of a bogus purchase can be added to taxable income
Mere incorrect claims in ITR not amounts to concealment of income
https://taxguru.in/income-tax/incorrect-claim-deduction-expenses-itr-amount-concealment-income-furnishing-inaccurate-particulars-itat-sets-nfac-order.html Clipped from: https://taxguru.in/income-tax/incorrect-claim-deduction-expenses-itr-amount-concealment-income-furnishing-inaccurate-particulars-itat-sets-nfac-order.html Kongnoli Sarva Seva Society Ltd Vs ITO (ITAT Pune) Introduction: The Income Tax Appellate Tribunal (ITAT) in Pune recently delivered an impactful ruling
👍👍👍👍👍👍👍Applicability of Tax Audit and Inter-link between Section 44AB, 44AD & 44ADA
https://taxguru.in/income-tax/applicability-tax-audit-inter-link-section-44ab-44ad-44ada.html Clipped from: https://taxguru.in/income-tax/applicability-tax-audit-inter-link-section-44ab-44ad-44ada.html Applicability of Tax Audit and Inter link between section 44AB vis-à-vissection 44AD and 44ADA of the Income Tax Act[Relevant for A.Y. 2023-24]
Cash deposit against Sum received from mother-in-law – ITAT directs re-adjudication
https://taxguru.in/income-tax/cash-deposit-sum-received-mother-in-law-itat-directs-re-adjudication.html Clipped from: https://taxguru.in/income-tax/cash-deposit-sum-received-mother-in-law-itat-directs-re-adjudication.html Pawanveer Singh Vs ITO (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT) of Delhi recently delivered a crucial order in the Pawanveer
TDS Mismatch in 26AS and Profit & Loss Account: ITAT Orders Reassessment on Lack of Substantiating Evidence
Clipped from: https://www.taxscan.in/tds-mismatch-in-26as-and-profit-loss-account-itat-orders-reassessment-on-lack-of-substantiating-evidence/301323/ The Income Tax Appellate Tribunal of Kolkata Bench has issued a directive for the reassessment of a case where there was a discrepancy between the
GST Registration Cancellation Order not issued by Proper Officer: Delhi HC directs to Approach Authorities for Re-examination
Clipped from: https://www.taxscan.in/gst-registration-cancellation-order-not-issued-by-proper-officer-delhi-hc-directs-to-approach-authorities-for-re-examination/301291/ A Division Bench of Delhi High Court while entering a writ petition regarding the cancellation of the Goods and Services Tax (GST) Registration, directed the
AO Fails to Follow Procedures to Proceed Reassessment Proceedings under Income Tax Act; issued notices to different PAN Number: ITAT quashes notice u/s 148
Read More: https://www.taxscan.in/ao-fails-to-follow-procedures-to-proceed-reassessment-proceedings-under-income-tax-act-issued-notices-to-different-pan-number-itat-quashes-notice-u-s-148/301078/ Clipped from: https://www.taxscan.in/ao-fails-to-follow-procedures-to-proceed-reassessment-proceedings-under-income-tax-act-issued-notices-to-different-pan-number-itat-quashes-notice-u-s-148/301078/ The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the notice issued under Section 148 of the Income Tax Act, 1961 (the
👍👍👍👍👍👍👍NRIs can still file income tax return even if their PAN becomes inoperative
https://www.business-standard.com/finance/personal-finance/nris-can-still-file-income-tax-return-even-if-the-pan-becomes-inoperative-123071900268_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/nris-can-still-file-income-tax-return-even-if-the-pan-becomes-inoperative-123071900268_1.html Concerns have been raised by certain NRIs/ OCIs regarding their PANs becoming inoperative, although they are exempted from linking their PAN with
👍👍👍👍👍👍👍Consequence of failure to file deceased’s ITR: Penalties, interest, jail
https://www.business-standard.com/finance/personal-finance/consequences-of-failure-to-file-deceased-s-itr-penalties-interest-jail-123071900776_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/consequences-of-failure-to-file-deceased-s-itr-penalties-interest-jail-123071900776_1.html However, a legal heir’s liability is capped at the value of the inherited estate “The Sixth Sense” immortalised the phrase “I see
India will be shielded from risks of global slowdown: World Bank President
https://www.business-standard.com/economy/news/india-has-a-natural-cushion-against-global-slowdown-world-bank-chief-123071900900_1.html Clipped from: https://www.business-standard.com/economy/news/india-has-a-natural-cushion-against-global-slowdown-world-bank-chief-123071900900_1.html ‘India gets a lot of its GDP from domestic consumption’ Photo: Bloomberg Listen to This Article Amidst risk of a global slowdown
Some gambling firms masqueraded as gaming companies: Chandrasekhar
https://www.business-standard.com/india-news/some-gambling-firms-masqueraded-as-gaming-companies-chandrasekhar-123071901102_1.html Clipped from: https://www.business-standard.com/india-news/some-gambling-firms-masqueraded-as-gaming-companies-chandrasekhar-123071901102_1.html Union minister Rajeev Chandrasekhar on Wednesday said some gaming companies “gamed the system”, masqueraded as gaming companies to run gambling businesses or
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