Clipped from: https://taxguru.in/income-tax/addition-bogus-purchases-case-lack-enquiry-ao.html Supertechforgings (India) Pvt. Ltd. Vs DCIT (ITAT Amritsar) Conclusion: Additions made for alleged bogus purchase bills by AO was not justified as AO
Category: Income Tax
Reassessment restrained in 79 cases for not following section 148A procedure–TAXGURU.IN
Clipped from: https://taxguru.in/income-tax/reassessment-restrained-79-cases-following-section-148a-procedure.html Tarun Goel Vs ITO (Delhi High Court) Conclusion: Revenue authorities were restrained from continuing with reassessment till further orders with respect to notices issued
Income Tax Return: With glitches in e-filing site yet to be removed, due date extension looks inevitable – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-with-glitches-in-e-filing-site-yet-to-be-removed-due-date-extension-looks-inevitable/2322014/ Finance Minister Nirmala Sitharaman has given Infosys a final deadline of September 15 to remove all the glitches from the new e-filing site.
60-65 small- to mid-sized companies on I-T radar for TDS mismatch | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/60-65-small-to-mid-sized-companies-on-i-t-radar-for-tds-mismatch-121083001100_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Premium_11072018 These companies had reported healthy advance tax payments According to sources, taxmen have observed a mismatch in TDS payments from at least 60-65
Make sure you don’t miss extended tax filing deadline: Analysts | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/make-sure-you-don-t-miss-extended-tax-filing-deadline-analysts-121090100044_1.html The new deadlines for uploading declarations in Form 15G/15H for Q1 is November 30. For Q2, the deadline is December 31 While submitting
IT and IT – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/it-portal-centre-infosys-it-infra-taxpayers-gst-portal-e-governance-govt-projects/article36141630.ece The tax portal glitches highlight deficiencies in the process of awarding e-governance contracts It is most unflattering to see a country that corners
Income Tax Return filing for AY 2021-22: Before ITR filing, check things to do and documents required – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-filing-for-ay-2021-22-before-itr-filing-check-things-to-do-and-documents-required/2308502/ Income Tax Return filing for AY 2021-22: ITR filing is mandatory for individuals if their taxable income is more than Rs 250,000 per
India Inc will not get call for extra tax in March: Revenue Secretary – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/india-inc-will-not-get-call-for-extra-tax-in-march/article35851464.ece?homepage=true DIPAM Secretary says it’s a 1991 moment for public sector enterprises Revenue Secretary Tarun Bajaj assured India Inc that the tax department will
The repeal of the retrospective tax shows Modi government means business on reforms | The Indian Express
Clipped from: https://indianexpress.com/article/opinion/columns/the-repeal-of-the-retrospective-tax-shows-modi-government-means-business-on-reforms-7447879/ The end to the retro tax is also a pointer to more capital reforms to come. China’s GDP growth peaked more than a
2012, 2021 & our future: Tax certainty is critical if the economy is to attract enough capital to grow at 7%-8% for decades
Clipped from: https://timesofindia.indiatimes.com/blogs/toi-edit-page/2012-2021-our-future-tax-certainty-is-critical-if-the-economy-is-to-attract-enough-capital-to-grow-at-7-8-for-decades/Neelkanth Mishra The writer is co-head of Asia Pacific Strategy and India Strategist for Credit Suisse Hard as it is forming a view of
NRI investments: 2 expert modes NRIs can use to invest in Indian markets, using home currency advantage – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/invest/2-expert-modes-to-invest-in-indian-markets-using-home-currency-advantage/articleshow/85169911.cmsSynopsis With a changed world of tech-enabled banking, secured payments and flexible country regulations, investment purchases in India transpire miraculously smoothly, all online in
NRI investments: 2 expert modes NRIs can use to invest in Indian markets, using home currency advantage – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/invest/2-expert-modes-to-invest-in-indian-markets-using-home-currency-advantage/articleshow/85169911.cmsSynopsis With a changed world of tech-enabled banking, secured payments and flexible country regulations, investment purchases in India transpire miraculously smoothly, all online in
INCOME TAX: Senior citizens can claim tax deduction on medical expenses up to Rs 50,000 – The Financial Express
lipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-senior-citizens-can-claim-tax-deduction-on-medical-expenses-up-to-rs-50000/2307454/ According to Section 80D of the Income Tax Act, senior citizens may avail a deduction of up to Rs 50,000 for payment of
ITR 1, 2, 4 filing, e-proceedings, certain other key functionalities available on new I-T portal: Government – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/itr-1-2-4-filing-e-proceedings-certain-other-key-functionalities-available-on-new-i-t-portal-government/articleshow/85178760.cmsSynopsis In a reply to a question on whether technical glitches continue to mar the functioning of the new IT portal, Minister of State
Tax consultants challenge constitutional validity of ‘Faceless Appeal Scheme’ in Bombay HC – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/tax-consultants-challenge-constitutional-validity-of-faceless-appeal-scheme-in-bombay-hc/articleshow/85188953.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis One of the oldest industry bodies of professionals has argued that there is a reasonable apprehension in the mind of the taxpayers that
5 investment strategies that can help you avoid tax legally, improve your investment returns – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/invest/5-investment-strategies-that-can-help-you-avoid-tax-legally-improve-your-investment-returns/articleshow/84703486.cms SynopsisEarning higher returns is not in the hands of investors. However, they can take steps to minimise their tax outgo. In this cover
I-T dept issues 3 email IDs for registering grievances under faceless assessment scheme – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/i-t-dept-issues-3-email-ids-for-registering-grievances-under-faceless-assessment-scheme/2306303/ Under the faceless assessment system, a taxpayer or an assessee is not required to visit an I-T department office or meet a department
A bold move to bury the retro tax ghost – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-view/et-view-a-bold-move-to-bury-the-retro-tax-ghost/articleshow/85073317.cmsSynopsis The Bill, introduced in the Lok Sabha, nullifies the tax demand on the indirect transfer of Indian assets on transactions prior to 28
Retrospective tax goes, not soon enough – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/retrospective-tax-goes-not-soon-enough/2305304/ Odd that the govt took this long to see sense on the matter, but this is the first step towards a less-litigious tax
Defer income-tax filing if you have to pay a penalty, say analysts | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/defer-income-tax-filing-if-you-have-to-pay-a-penalty-say-analysts-121080600013_1.html Do so once the glitches on the new tax portal have been ironed out Timely filing of returns carries several benefits Owing to
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