https://taxguru.in/income-tax/section-80p2d-deduction-dividend-co-op-banks-credit-society.html Clipped from: https://taxguru.in/income-tax/section-80p2d-deduction-dividend-co-op-banks-credit-society.html Mahapalika Kshetra Madhyamik Shikshak Sahakari Pat Sanstha Maryadit Vs CIT(A) (ITAT Mumbai) Dividend which is earned by the Society registered under Maharashtra
Category: Income Tax
Income Tax Act Section 132(8-A): Bank Account Freezing Expires in 60 Days
https://taxguru.in/income-tax/income-tax-act-section-1328-a-bank-account-freezing-expires-60-days.html lipped from: https://taxguru.in/income-tax/income-tax-act-section-1328-a-bank-account-freezing-expires-60-days.html Pooja Trading Co. Vs DCIT (Inv) & Anr. (Delhi High Court) Introduction: In a recent ruling, the Delhi High Court addressed the legality
👍👍👍👍👍👍👍Assessment Based on Mere Unverified Third Party Statement Bad in Law: ITAT Mumbai
https://taxguru.in/income-tax/assessment-based-unverified-third-party-statement-bad-law-itat-mumbai.html Clipped from: https://taxguru.in/income-tax/assessment-based-unverified-third-party-statement-bad-law-itat-mumbai.html Kundal Raghubir Bhandari Vs ITO (ITAT Mumbai) In this case, the Income Tax Appellate Tribunal (ITAT) Mumbai reviewed an appeal filed by
👍👍👍👍👍👍👍Analysis of Section 43B(h) of Income-tax Act, 1961
https://taxguru.in/income-tax/analysis-section-43bh-income-tax-act-1961.html Clipped from: https://taxguru.in/income-tax/analysis-section-43bh-income-tax-act-1961.html In order to protect and promptly make payments to the MSEs, Clause (h) in Section 43B, inserted vide the Finance Act 2023, provides
👍👍👍👍👍Section 43B deduction cannot be denied merely for not claiming in tax audit report
https://taxguru.in/income-tax/section-43b-deduction-denied-claiming-tax-audit-report.html Clipped from: https://taxguru.in/income-tax/section-43b-deduction-denied-claiming-tax-audit-report.html Maruti Enterprise Vs ADIT(CPC) (ITAT Rajkot) The case of Maruti Enterprise versus the Assistant Director of Income Tax (CPC) (ITAT Rajkot) revolves
👍👍👍👍👍Notice for Reopening Assessment u/s 148 of IT Act without DIN is Invalid: Bombay HC
Clipped from: https://www.taxscan.in/notice-for-reopening-assessment-u-s-148-of-it-act-without-din-is-invalid-bombay-hc/397570/ It is settled that if DIN is not mentioned in the letter/notice/order, the reason for not mentioning the DIN and the approval from
👍👍👍👍👍Section 143(3) Assessment Order Void Ab Initio If Notice Issued by Non-Jurisdictional ITO
https://taxguru.in/income-tax/section-1433-assessment-order-void-ab-initio-notice-issued-non-jurisdictional-ito.html Clipped from: https://taxguru.in/income-tax/section-1433-assessment-order-void-ab-initio-notice-issued-non-jurisdictional-ito.html YKM Holdings Pvt. Ltd. Vs ACIT (ITAT Delhi) The case of YKM Holdings Pvt. Ltd. vs ACIT (ITAT Delhi) delves into the
👍👍👍👍👍Frequently Asked Questions while Filing Income Tax Return (Part-2)
https://taxguru.in/income-tax/frequently-asked-questions-filing-income-tax-return-part-2.html Clipped from: https://taxguru.in/income-tax/frequently-asked-questions-filing-income-tax-return-part-2.html Dear friends, in continuation of my earlier article on topic “FAQ’s generally asked while Filing Income Tax Return” in Today’s article, we
File tax return in mid-June, once all necessary information is available | Personal Finance – Business Standard
https://www.business-standard.com/finance/personal-finance/file-tax-return-in-mid-june-once-all-necessary-information-is-available-124050600878_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/file-tax-return-in-mid-june-once-all-necessary-information-is-available-124050600878_1.html Only taxpayers with single source of income or simple finances should file early Taxpayers are filing their income tax returns (ITRs) early
👍👍👍Income Tax penalty amount not recoverable from legal representatives of accused
https://taxguru.in/income-tax/income-tax-penalty-amount-recoverable-legal-representatives-accused.html Clipped from: https://taxguru.in/income-tax/income-tax-penalty-amount-recoverable-legal-representatives-accused.html Beantkaur Avtarsingh Juneja Vs ITO (ITAT Nagpur) The case of Beantkaur Avtarsingh Juneja versus the Income Tax Officer (ITO), Nagpur, has sparked
Old vs New Tax Regime: Who should move to the New Tax Regime from the old one? – Income Tax News | The Financial Express
https://www.financialexpress.com/money/income-tax-old-vs-new-tax-regime-who-should-move-to-the-new-tax-regime-from-the-old-one-3467156 Clipped from: https://www.financialexpress.com/money/income-tax-old-vs-new-tax-regime-who-should-move-to-the-new-tax-regime-from-the-old-one-3467156/ Transitioning from the old tax regime to the new one primarily hinges on key factors such as income level, potential tax savings,
👍👍👍I-T dept starts drive to dispose of appeals, 0.54 million at last count – Money News | The Financial Express
https://www.financialexpress.com/money/i-t-dept-starts-drive-to-dispose-of-appeals-0-54-mn-at-last-count-3464102 Clipped from: https://www.financialexpress.com/money/i-t-dept-starts-drive-to-dispose-of-appeals-0-54-mn-at-last-count-3464102/ The large pendency is even as the Central Board of Direct Taxes (CBDT) has laid emphasis on disposing of income tax appeals
Tax Query: Set-off Rules for Capital Loss Under the New Tax Regime
I have a query regarding new tax regime for the AY 2024-25. I have been following the old tax regime, and reported long-term capital loss
To beat the last minute rush, some taxpayers start filing ITRs early – BusinessToday
https://www.businesstoday.in/personal-finance/tax/story/to-beat-the-last-minute-rush-some-taxpayers-start-filing-itrs-early-425778-2024-04-16 Clipped from: https://www.businesstoday.in/personal-finance/tax/story/to-beat-the-last-minute-rush-some-taxpayers-start-filing-itrs-early-425778-2024-04-16 According to income tax department data, 119,000 returns filed by April 10; experts say taxpayers with no TDS in last quarter of
👍👍👍👍👍👍👍Taxation for NRIs
https://taxguru.in/income-tax/taxation-nris.html Clipped from: https://taxguru.in/income-tax/taxation-nris.html NRIs are bound to pay tax on income accrue or arise in India based on their residential status. Under Income tax act
👍👍👍Top-up home loans work best when repaid quickly; avoid overleveraging | Personal Finance – Business Standard
https://www.business-standard.com/finance/personal-finance/top-up-home-loans-work-best-when-repaid-quickly-avoid-overleveraging-124041901037_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/top-up-home-loans-work-best-when-repaid-quickly-avoid-overleveraging-124041901037_1.html Avoid overleveraging or using these funds to finance non-essential lifestyle expenses Representative Image Listen to This Article Recent media reports suggest that
👍👍👍👍👍👍👍All about Income Tax Returns for individuals FY 2023-24 AY 2024-25
https://taxguru.in/income-tax/income-tax-returns-individuals-fy-2023-24-ay-2024-25.html Clipped from: https://taxguru.in/income-tax/income-tax-returns-individuals-fy-2023-24-ay-2024-25.html Everything About ITR Forms: Which Form to File and Why Filing Is Advisable Regardless of Income As we all know, ITR filing
👍👍👍Deposited over Rs 10 lakh in cash in your account? You can get I-T notice | Personal Finance – Business Standard
https://www.business-standard.com/finance/personal-finance/deposited-over-rs-10-lakh-in-cash-in-your-account-you-can-get-i-t-notice-124041600089_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/deposited-over-rs-10-lakh-in-cash-in-your-account-you-can-get-i-t-notice-124041600089_1.html Cash deposits or withdrawals exceeding Rs 10 lakh (1 million) in a year in a savings account (except current accounts and fixed
No section 68 addition based on turnover declared under section 44AD
https://taxguru.in/income-tax/section-68-addition-based-turnover-declared-section-44ad.html Clipped from: https://taxguru.in/income-tax/section-68-addition-based-turnover-declared-section-44ad.html DCIT Vs Kalpesh Kantilal Gada (ITAT Mumbai) In the case of DCIT Vs Kalpesh Kantilal Gada, ITAT Mumbai delivered a significant verdict
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