Clipped from: https://www.businesstoday.in/personal-finance/tax/story/vivad-se-vishwas-scheme-2024-faqs-released-on-how-to-resolve-income-tax-disputes-450721-2024-10-19 This scheme primarily focuses on settling disputes that were pending as of July 22, 2024. Taxpayers who are currently entangled in disputes related
Category: Income Tax
👌👌👌Tax Query: Taxation on sale proceeds of ESOPs from MNC – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-taxation-on-sale-proceeds-of-esops-from-mnc/article68763601.ece If you are holding shares for 24 months or more, then the resulting capital gain from sale of such shares would be regarded
👌👌👌👌👌👌👌Critical Analysis of New Reassessment Provisions: Section 148, 148A and 149
Clipped from: https://taxguru.in/income-tax/critical-analysis-reassessment-provisions-section-148-section-148a-section-149.html Critical analysis of new reassessment provisions: Section 148, Section 148A and Section 149 In this article, we provide a critical analysis of the
👌👌👌👌👌👌👌THE NEW REGIME OF REASSESSMENT PROCEEDINGS UNDER SECTION 148A OF THE INCOME-TAX ACT, 1961: A 20-POINT CHECKLIST FOR REPRESENTATION – Digest of case laws
Clipped from: https://itatonline.org/digest/articles/the-new-regime-of-reassessment-proceedings-under-section-148a-of-the-income-tax-act-1961-a-20-point-checklist-for-representation/ By Dr. K. Shivaram, Senior Advocate & Mr. Shashi Bekal, Advocate Executive Summary The Article aims at providing a detailed guide for advocates,
👌👌👌👌👌👌👌Critical Analysis of New Reassessment Provisions: Section 148, 148A and 149
Clipped from: https://taxguru.in/income-tax/critical-analysis-reassessment-provisions-section-148-section-148a-section-149.html Critical analysis of new reassessment provisions: Section 148, Section 148A and Section 149 In this article, we provide a critical analysis of the
👌👌👌👌👌👌👌Importance of Gift Deed in Property Transfer
Clipped from: https://taxguru.in/chartered-accountant/importance-gift-deed-property-transfer.html Transferring wealth in the form of immovable property and or high value items as gifts is very common nowadays. However, many times transferor
👌👌👌Notices issued through income tax portal only is not a valid service of notice: ITAT Chandigarh
Clipped from: https://taxguru.in/income-tax/notices-issued-income-tax-portal-valid-service-notice-itat-chandigarh.html Chhering Tomdan Vs ITO (ITAT Chandigarh) ITAT Chandigarh held that since notices were issued through ITBA portal only it cannot be treated as
👌👌👌👌👌👌👌Interpreting Reassessment Provisions – UOI vs. Rajeev Bansal & Ors (SC)
Clipped from: https://taxguru.in/income-tax/interpreting-reassessment-provisions-uoi-vs-rajeev-bansal-ors-sc.html Interpreting Reassessment Provisions – UOI vs. Rajeev Bansal & Ors – Civil Appeal No 8629 of 2024 (SC) The primary issue is whether
👌👌👌Deduction u/s. 80P(2)(d) not available on interest from savings bank account in co-operative bank
Clipped from: https://taxguru.in/income-tax/deduction-u-s-80p-2-d-interest-savings-bank-account-co-operative-bank.html Karumandurmedu MPCS Ltd Vs DCIT (ITAT Chennai) ITAT Chennai held that interest earned out of savings bank account maintained in a co-operative bank
👌👌👌SC gives relief to IT department, but it’s bad news for 90,000 assessees – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/sc-gives-relief-to-it-department-but-its-a-bad-news-for-90000-assessees/article68713650.ece Taxpayers will need to quickly comply with the requirement of notices issued in their cases and complete the proceedings In a big win
👌👌👌6 income tax rules introduced in Budget 2024 to be effective from Oct 1. Check list – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/6-income-tax-changes-introduced-in-budget-2024-oct-1-aadhaar-card-stt-tds-rate-direct-tax-vivad-se-vishwas-scheme-2024-447621-2024-09-26 The STT applicable to futures and options (F&O) trading is set to increase from October 1, 2024. Specifically, the tax rates for Futures
👌👌👌👌👌👌👌Decoding Complexities of Non-Resident Taxation
Clipped from: https://taxguru.in/corporate-law/decoding-complexities-non-resident-taxation.html Introduction Taxation for non-residents in India is shaped by specific provisions of the Income Tax Act, 1961 (‘the Act’). Non-residents, defined as individuals
No addition u/s 68 as taxpayer did not maintain books of accounts
Clipped from: https://taxguru.in/income-tax/addition-u-s-68-taxpayer-maintain-books-accounts.html Ishtiaq Ahmad Rather Vs ITO (ITAT Amritsar) Conclusion: Addition of cash deposit under section 68 was not justified as the same could only be
👌👌👌👌👌Vivaad Se Vishwas 2024: Assess strength of your case before settling | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/vivaad-se-vishwas-2024-assess-strength-of-your-case-before-settling-124092501046_1.html “The scheme, which will be effective from October 1, 2024, aims to resolve pending income tax disputes under the Finance Act, 2024,” says
Deduction u/s. 80P(2)(d) admissible on interest earned from investment with Co-operative Banks: ITAT Mumbai
Clipped from: https://taxguru.in/income-tax/deduction-u-s-80p-2-d-admissible-interest-earned-investment-co-operative-banks-itat-mumbai.html Laburnum Mahindra Gardens Co. Op. Hsg. Limited Vs ITO (ITAT Mumbai) ITAT Mumbai held that deduction under section 80P(2)(d) of the Income Tax
Section 80P(2)(d) Deduction Allowed for Interest from Co-operative Bank Deposits
Clipped from: https://taxguru.in/income-tax/deduction-u-s-80p-2-d-admissible-interest-earned-deposits-co-operative-banks.html Salestax Employees Co- Operative Credit Society Ltd. Vs ACIT (ITAT Ahmedabad) ITAT Ahmedabad held that interest income earned from deposits with Cooperative Banks
👌👌👌👌👌👌👌Tax Benefits for NRIs on Income earned in India or Outside India
Clipped from: https://taxguru.in/income-tax/tax-benefits-nris-income-earned-india-outside-india.html Tax Benefits for NRIs on Income earned in India or Outside India : Key Exemptions and Insights from Renowned Tax Experts Let’s talk
👌👌👌👌👌FAQs on Vivad se Vishwas Scheme 2024
Clipped from: https://taxguru.in/income-tax/faqs-vivad-se-vishwas-scheme-2024.html Summary: The Vivad Se Vishwas Scheme, 2024 has been introduced to expedite the resolution of tax disputes and reduce litigation, following the success of
👌👌👌👌👌Capital Gain Tax Exemption on Property under Redevelopment
Clipped from: https://taxguru.in/income-tax/capital-gain-tax-exemption-property-redevelopment.html 1. Redeveloping old buildings and societies is gaining momentum in major cities like Mumbai, Delhi-NCR, Surat, Bengaluru etc. Mumbai, India’s financial capital, is
Tax Query: Tax Deduction for Perquisites – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-tax-deduction-for-perquisites/article68659946.ece Employer-provided benefits like rent-free accommodation, fuel, and electricity reimbursements are taxable perquisites, and employers must deduct tax at source accordingly I fall in
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