Clipped from: https://www.taxscan.in/madras-high-court-sets-aside-income-tax-assessment-order-passed-hastily-without-considering-taxpayers-submission-amidst-approaching-deadline/436759/ In a recent ruling, the Madras High Court set aside the Income Tax assessment order which was passed hastily without considering the taxpayer’s
Category: Income Tax
CBDT’s Dispute Resolution Scheme: Know how you can approach e-DRC to resolve your tax disputes – BusinessToday
https://www.businesstoday.in/personal-finance/tax/story/cbdts-dispute-resolution-scheme-know-how-you-can-approach-e-drc-to-resolve-your-tax-disputes-443801-2024-08-31 Clipped from: https://www.businesstoday.in/personal-finance/tax/story/cbdts-dispute-resolution-scheme-know-how-you-can-approach-e-drc-to-resolve-your-tax-disputes-443801-2024-08-31 Under this scheme, taxpayers meeting specific criteria outlined in section 245MA of the Act can electronically submit an application to the designated
Tax Query: Disclosing Accrued Interest in Tax Return – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-disclosing-accrued-interest-in-tax-return/article68634388.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-disclosing-accrued-interest-in-tax-return/article68634388.ece An individual has the option to use either the receipt or accrual method of accounting for bank interest, as this is taxable
👌👌👌Are details of income-tax return filings confidential?
https://www.business-standard.com/economy/news/explained-are-details-of-income-tax-return-filings-confidential-124091301399_1.html Clipped from: https://www.business-standard.com/economy/news/explained-are-details-of-income-tax-return-filings-confidential-124091301399_1.html Experts cited that disclosing an individual’s income tax returns constitutes a violation of their fundamental right to privacy as recognized by the
👌👌👌👌👌Income Tax Clearance Certificate: Meaning, Significance and Steps to Download
https://cleartax.in/s/income-tax-clearance-certificate Clipped from: https://cleartax.in/s/income-tax-clearance-certificate Some transactions in India require you to obtain an Income Tax Clearance Certificate (ITCC). It is an essential certificate that tax authorities issue
Flaws in reinstating indexation benefit on LTCG – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/flaws-in-reinstating-indexation-benefit-on-ltcg/article68619108.ece Clipped from: https://www.thehindubusinessline.com/opinion/flaws-in-reinstating-indexation-benefit-on-ltcg/article68619108.ece The amended law does not address issues like what happens if an assessee had bought land prior to July 23, 2024, but
CBDT launches new e-DRS Scheme to ease tax disputes – BusinessToday
https://www.businesstoday.in/personal-finance/tax/story/cbdt-launches-new-e-drs-scheme-to-ease-tax-disputes-443770-2024-08-30 Clipped from: https://www.businesstoday.in/personal-finance/tax/story/cbdt-launches-new-e-drs-scheme-to-ease-tax-disputes-443770-2024-08-30 This initiative, established under section 245MA of the Income-tax Act, 1961, will allow taxpayers to resolve disputes electronically through Dispute Resolution Committees
CBDT’s Dispute Resolution Scheme: Know how you can approach e-DRC to resolve your tax disputes – BusinessToday
https://www.businesstoday.in/personal-finance/tax/story/cbdts-dispute-resolution-scheme-know-how-you-can-approach-e-drc-to-resolve-your-tax-disputes-443801-2024-08-31 Clipped from: https://www.businesstoday.in/personal-finance/tax/story/cbdts-dispute-resolution-scheme-know-how-you-can-approach-e-drc-to-resolve-your-tax-disputes-443801-2024-08-31 Under this scheme, taxpayers meeting specific criteria outlined in section 245MA of the Act can electronically submit an application to the designated
Gift from parents exempt from tax – Money News | The Financial Express
https://www.financialexpress.com/money/gift-from-parents-exempt-from-tax-3591157/ Clipped from: https://www.financialexpress.com/money/gift-from-parents-exempt-from-tax-3591157/ Gifts from parents to their children are exempt from tax under Indian income tax law, as they are classified as gifts from
👍Income Tax Refund Delays: When will you get tax refunds? Why ITR processing gets delayed – Money News | The Financial Express
https://www.financialexpress.com/money/income-tax-refund-delays-heres-why-your-refunds-are-stuck-and-how-long-income-tax-dept-can-legally-take-3579795/ Clipped from: https://www.financialexpress.com/money/income-tax-refund-delays-heres-why-your-refunds-are-stuck-and-how-long-income-tax-dept-can-legally-take-3579795/ Income Tax Refund Delays: The Income Tax Department did not extend the Income Tax Return (ITR) deadline for the Assessment Year 2024-25,
👍ITR filing for FY 2023-24: When should you file rectification form? Check details – BusinessToday
https://www.businesstoday.in/personal-finance/tax/story/itr-filing-for-fy-2023-24-when-should-you-file-rectification-form-check-details-441055-2024-08-11 Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-filing-for-fy-2023-24-when-should-you-file-rectification-form-check-details-441055-2024-08-11 One should note that a taxpayer cannot view the rectification request status offline. You will be required to log in to the
Your Ready Reckoner for Bond Taxation – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/your-ready-reckoner-for-bond-taxation/article68505343.ece Clipped from: https://www.thehindubusinessline.com/portfolio/your-ready-reckoner-for-bond-taxation/article68505343.ece Demystifying capital gain taxation on bonds The Budget in July had introduced several amendments to taxation. It’s been a couple of weeks
👍👍👍Give robust response to Section 148A notice to avoid reassessment | Personal Finance – Business Standard
https://www.business-standard.com/finance/personal-finance/provide-robust-response-to-section-148a-notice-to-avoid-reassessment-124080901457_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/provide-robust-response-to-section-148a-notice-to-avoid-reassessment-124080901457_1.html Taxpayers should, in the first place, file accurate returns annually, declaring income from all sources Listen to This Article The Income-Tax (I-T)
States get nearly 3/4th of GST on health insurance, says Sitharaman – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/states-get-nearly-34th-of-gst-on-health-insurance-says-sitharaman/article68497550.ece Clipped from: https://www.thehindubusinessline.com/economy/states-get-nearly-34th-of-gst-on-health-insurance-says-sitharaman/article68497550.ece Flexible LTCG for realty, other amendments in Finance Bill approved by LS Finance Minister Nirmala Sitharaman on Wednesday said that States receive
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