https://www.thehindubusinessline.com/opinion/editorial/to-tax-and-to-please/article68303680.ece Clipped from: https://www.thehindubusinessline.com/opinion/editorial/to-tax-and-to-please/article68303680.ece Personal income tax regime cries out for reform Reducing personal income tax and simplifying individual tax laws should be a priority area
Category: Income Tax
To tax, and to please – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/editorial/to-tax-and-to-please/article68303680.ece lipped from: https://www.thehindubusinessline.com/opinion/editorial/to-tax-and-to-please/article68303680.ece Personal income tax regime cries out for reform Reducing personal income tax and simplifying individual tax laws should be a priority area
Tax query: How income from content is taxed for freelance consultancy – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-income-from-content-is-taxed-for-freelance-consultancy/article68284638.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-income-from-content-is-taxed-for-freelance-consultancy/article68284638.ece Section 44AA(1) of I-T Act prescribes the list of professionals who qualify for presumptive taxation under section 44ADA I am a freelance
👍👍👍👍👍Income tax return filing for FY2023-24: 10 ITR filing mistakes which can cost taxpayers dearly – Money News | The Financial Express
https://www.financialexpress.com/money/10-itr-filing-mistakes-which-can-cost-taxpayers-dearly-3515737/ lipped from: https://www.financialexpress.com/money/10-itr-filing-mistakes-which-can-cost-taxpayers-dearly-3515737/ Taxpayers are usually careful and exercise due diligence while filing ITRs, but in a rush to file returns before the due date,
👍👍👍👍👍Restrictions on cash transaction: Know details before making any payment | Personal Finance – Business Standard
https://www.business-standard.com/finance/personal-finance/restrictions-on-cash-transaction-know-details-before-making-any-payment-124060500529_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/restrictions-on-cash-transaction-know-details-before-making-any-payment-124060500529_1.html The government’s intention is to curb black money, promote digital transactions, and ensure tax compliance Imaging: Ajay Mohanty Listen to This Article
👍👍👍👍👍👍👍Service of notice gets affected when sent to correct address by registered post
https://taxguru.in/company-law/service-notice-gets-affected-sent-correct-address-registered-post.html Clipped from: https://taxguru.in/company-law/service-notice-gets-affected-sent-correct-address-registered-post.html Mukund Rajhans Vs Rajasthan Patrika Private Limited (NCLAT Delhi) In the case of Mukund Rajhans vs. Rajasthan Patrika Private Limited, the National Company
Section 80P(2)(d) deduction eligible to co-op society on interest from investments with co-op banks
https://taxguru.in/income-tax/section-80p2d-deduction-eligible-co-op-society-interest-investments-co-op-banks.html Clipped from: https://taxguru.in/income-tax/section-80p2d-deduction-eligible-co-op-society-interest-investments-co-op-banks.html Mullanpur Garibdas Co-operative Multipurpose Society Vs PCIT-II (ITAT Chandigarh) ITAT held that assessee society, being a cooperative society, is entitled to the
ITD can’t cure defect in Notice Issued u/s 148 of Income Tax Act against Dead person by issuing Manual Notice in name of legal heir: ITAT quashes Reassessment Proceedings
Clipped from: https://www.taxscan.in/itd-cant-cure-defect-in-notice-issued-u-s-148-of-income-tax-act-against-dead-person-by-issuing-manual-notice-in-name-of-legal-heir-itat-quashes-reassessment-proceedings-read-order/406204/ The Bangalore bench of Income Tax Appellate Tribunal ( ITAT ) while quashing the reassessment proceedings held that the Income Tax Department could not cure
Assessment order passed in the name of a deceased individual is invalid: ITAT Jaipur
https://taxguru.in/income-tax/assessment-order-passed-name-deceased-individual-invalid-itat-jaipur.html Clipped from: https://taxguru.in/income-tax/assessment-order-passed-name-deceased-individual-invalid-itat-jaipur.html Birdi Chand Vs ITO (ITAT Jaipur) As it is evident from the fact that the legal heir of late Shri Birdi Chand
Fix mismatches between Form 26AS and 16 before income tax filing | Personal Finance – Business Standard
https://www.business-standard.com/finance/personal-finance/correct-form-26as-and-form-16-mismatches-before-income-tax-filing-124052701203_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/correct-form-26as-and-form-16-mismatches-before-income-tax-filing-124052701203_1.html Form 26AS is a consolidated tax statement showing taxes deducted, tax credits, income sources, and tax deducted at source (TDS) and tax
👍👍👍👍👍I-T dept notifies cost inflation index for FY25 to compute capital gains | India News – Business Standard
https://www.business-standard.com/india-news/i-t-dept-notifies-cost-inflation-index-for-fy25-to-compute-capital-gains-122061500544_1.html Clipped from: https://www.business-standard.com/india-news/i-t-dept-notifies-cost-inflation-index-for-fy25-to-compute-capital-gains-122061500544_1.html The cost inflation index (CII) is used by a taxpayer to compute gains arising out of the sale of capital assets after
👍👍👍👍👍Delhi HC Invalidates GST Order for Lack of Consideration of Petitioner’s Reply
https://taxguru.in/goods-and-service-tax/delhi-hc-invalidates-gst-order-lack-of-consideration-petitioners-reply.html Clipped from: https://taxguru.in/goods-and-service-tax/delhi-hc-invalidates-gst-order-lack-of-consideration-petitioners-reply.html RPJ Polymers Vs Union Of India & Ors (Delhi High Court) RPJ Polymers, the petitioner, challenged an order dated 28.12.2023 issued under
👍👍👍👍👍Improper service of Section 148 notice renders assessment order invalid
https://taxguru.in/income-tax/improper-service-section-148-notice-renders-assessment-order-invalid.html Clipped from: https://taxguru.in/income-tax/improper-service-section-148-notice-renders-assessment-order-invalid.html Mandeep Malli Vs ACIT (ITAT Amritsar) The Income Tax Appellate Tribunal (ITAT) Amritsar presided over the case of Mandeep Malli vs. ACIT,
Interest received from Co-operative Banks– is not taxable — Courtesy Taxguru
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
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
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