Clipped from: https://www.business-standard.com/article/pf/missed-december-31-deadline-you-can-file-belated-return-by-march-31-122011200581_1.html However, you may have to pay a penalty and won’t be able to carry forward most types of losses Taxpayers who have missed
Category: Income Tax
I-T detects Rs 800-cr hidden cash transactions after raids on Andhra, Telangana realty groups – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/i-t-detects-rs-800-cr-hidden-cash-transactions-after-raids-on-andhra-telangana-realty-groups/articleshow/88814439.cmsSynopsis Incriminating documents like handwritten books, agreements and digital data have been seized from a specialised software application as well as from other electronic
Physical or digital: Choose the ITR verification method you find convenient | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/physical-or-digital-choose-the-itr-verification-method-you-find-convenient-122011000975_1.html Your tax return will become invalid unless it is verified within 120 days Even if you have met the December 31 deadline for
Cash credit account cannot be provisionally attached- HC issues contempt notice to Principal Commissioner
Clipped from: https://taxguru.in/goods-and-service-tax/cash-credit-account-provisionally-attached-hc-issues-contempt-notice-principal-commissioner.html?utm_source=feedburner&utm_medium=email Manish Scrap Traders Vs Principal Commissioner (Gujarat High Court) Way back in the year 2016, in the case of Kaneria Granito Ltd. vs. Assistant
Possible delay in filing of tax audit reports: ICAI bats for penalty waiver till March 31 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/possible-delay-in-filing-of-tax-audit-reports-icai-bats-for-penalty-waiver-till-march-31/article38207130.ece In a memorandum to the CBDT Chairperson JB Mohapatra, ICAI sought waiver of penalty and other consequences for any delay in filing of
Tax Query: TDS on rent receivable – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-tds-on-rent-receivable/article38191622.ece I had rented out my shop in 2008. The tenant was deducting TDS from my rent and accordingly I was showing this in
Legal notice to Income tax dept for not extending ITR filing deadline – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/legal-notice-to-income-tax-dept-for-not-extending-itr-filing-deadline/articleshow/88728559.cmsSynopsis AOTAA has asked for the ITR filing deadline to be extended as well as the late filing fee collected to be returned to
Missed the income tax return filing deadline? Here’s what you can do | Missed ITR filing deadline
Clipped from: https://economictimes.indiatimes.com/wealth/tax/missed-the-income-tax-return-filing-deadline-heres-what-you-can-do/articleshow/65631847.cms If you missed the deadline (i.e., December 31, 2021) to file your income tax return (ITR) for FY 2020-21, don’t worry, you can still file
Is Taxman getting over-aggressive? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/is-taxman-getting-over-aggressive/article38135026.ece While many recent searches may be justified, more clarity in the GST law is needed to ensure fairness During the first few years
Don’t discriminate against non-residents on the tax front – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/dont-discriminate-against-non-residents-on-the-tax-front/article38135519.ece The Income Tax Act, 1961 envisages tax on long term capital gains (LTCG) at a flat 20 per cent (other than those on
Xiaomi India evaded ₹653 cr customs duty, says DRI – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/xiaomi-india-evaded-653-cr-customs-duty-says-finmin/article38127074.ece DRI raided the firm, initiated an investigation Directorate of Revenue Intelligence (DRI has issued show-cause notices to mobile handset manufacturer Xiaomi Technology India
ITR filing penalty: These taxpayers don’t have to pay late fee for missing deadline – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-penalty-these-taxpayers-dont-have-to-pay-late-fee-for-missing-deadline/articleshow/86029470.cmsSynopsis There are certain individuals who can file their ITR without paying a penalty even after the expiry of the deadline. Let us take
Crypto platforms lack clarity on tax provisions: Industry – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/crypto-platforms-lack-clarity-on-tax-provisions-industry/articleshow/88677521.cms SynopsisAfter the Goods and Services Department, which slapped a ₹40 crore GST demand on crypto exchange WazirX last month, the Directorate General of
Outside tax net for too long – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/outside-tax-net-for-too-long/article38116158.ece Time to tax the income of political parties, rich farmers Finance Minister Nirmala Sitharaman recently concluded her pre-Budget meetings with different stakeholder groups.
Your Queries (Income Tax): Gains on gilt funds are long-term if held for more than a year – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-gains-on-gilt-funds-are-long-term-if-held-for-more-than-a-year/2398350/ For listed debt funds, gains are classi-fied as long term if held for a period exceeding one year, else the same are treated
How to read tax intimation notice under section 143(1) – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-how-to-read-tax-intimation-notice-under-section-1431/articleshow/70875246.cms?from=mdrSynopsis This notice is sent to you on your registered email ID to inform you whether income tax calculation in the ITR filed by
More crypto exchanges to find taxmen knocking their door this year – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/money-and-banking/cryptocurrency/more-crypto-exchanges-to-find-taxmen-knocking-their-door-in-the-new-year/article38091785.ece Investigation on nearly half-a-dozen exchanges found GST evasion, and collected over ₹70 cr. With the higher and higher number of investments and investors
IT Dept: Self-assessment tax collection at ₹4,000 cr in Dec – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/it-dept-self-assessment-tax-collection-at-4000-cr-in-dec/article38088915.ece 5.89 crore ITRs filed as extended due date ended on Dec 31 The Income-Tax Department has collected over ₹4,000 crore just in December
Section 148 notice cannot be issued after approval of Resolution Plan under IBC 2016–TAXGURU.IN
Clipped from: https://taxguru.in/income-tax/section-148-notice-issued-approval-resolution-plan-ibc-2016.html?utm_source=feedburner&utm_medium=email Murli Industries Limited. Vs ACIT (Bombay High Court) Issue : Whether the Authorities of the Income Tax Department can issue notice under Section 148
DGGI cracks down on crypto exchanges, Rs 70 cr tax evasion detected: Report | Business Standard News
Clipped from: https://www.business-standard.com/article/current-affairs/dggi-cracks-down-on-crypto-exchanges-rs-70-cr-tax-evasion-detected-report-122010100481_1.html The DGGI is investigating Coinswitch Kuber, CoinDCX, BuyUCoin and Unocoin, say sources Photo: Bloomberg After the massive tax evasion of GST by Cryptocurrency Service providers
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