Clipped from: https://www.taxscan.in/tax-judgments-of-supreme-court-annual-digest-2023-part-1/359021/ This Annual Digest of Supreme Court Cases analytically summarizes all Income Tax and Indirect Tax related cases heard by the Apex Court reported
Category: Income Tax
Understanding Residency Status for Property Sale by NRIs in India
https://taxguru.in/income-tax/understanding-residency-status-property-sale-nris-india.html Clipped from: https://taxguru.in/income-tax/understanding-residency-status-property-sale-nris-india.html Introduction: Navigating the complexities of property transactions in India as a Non-Resident Indian (NRI) involves understanding the intricate web of regulations and tax
Income Tax Circular 13/2023: Condonation for 80P Deduction Returns
https://taxguru.in/income-tax/income-tax-circular-13-2023-condonation-80p-deduction-returns.html Clipped from: https://taxguru.in/income-tax/income-tax-circular-13-2023-condonation-80p-deduction-returns.html Introduction: Circular No. 13/2023-Income Tax, Dated: 26th July, 2023, addresses the condonation of delay under section 119 of the Income Tax Act, 1961,
AO’s Addition Unsustainable Without Incriminating Material from Relevant Search: Delhi HC
https://taxguru.in/income-tax/addition-u-s-69-valid-incriminating-evidencedelhi-hc-upholds-itats-order-deleting-addition.html Clipped from: https://taxguru.in/income-tax/addition-u-s-69-valid-incriminating-evidencedelhi-hc-upholds-itats-order-deleting-addition.html PCIT (Central) Vs Sanjay Singhal (Delhi High Court) Introduction: The recent case of PCIT (Central) vs. Sanjay Singhal before the Delhi High Court
Draft Assessment Order not issued: HC Quashed final Assessment Order
https://taxguru.in/income-tax/draft-assessment-order-not-issued-hc-quashed-final-assessment-order.html Clipped from: https://taxguru.in/income-tax/draft-assessment-order-not-issued-hc-quashed-final-assessment-order.html Rinku R. Rai Vs ITO (Bombay High Court) Introduction: The recent judgment of the Bombay High Court in the case of Rinku R.
Income Tax Notice Invalid if not mailed on Registered Email ID: Karnataka HC
https://taxguru.in/income-tax/income-tax-notice-invalid-not-mailed-registered-email-id-karnataka-hc.html Clipped from: https://taxguru.in/income-tax/income-tax-notice-invalid-not-mailed-registered-email-id-karnataka-hc.html Sterling Urban Ventures Private Limited Vs Assessment Unit (Karnataka High Court) Introduction: The recent case of Sterling Urban Ventures Private Limited Vs Assessment
Tax Query: Taxation Implications on Demat Transfer of Shares – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-taxation-implications-on-demat-transfer-of-shares/article67731367.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-taxation-implications-on-demat-transfer-of-shares/article67731367.ece Once the transfer is effected, the dividends received from these shares are taxable in the hands of the respective holders My father-in-law,
Section 274 Income Tax Notice Must Precede Limitation Period: Delhi HC
https://taxguru.in/income-tax/notice-u-s-274-income-tax-act-issued-period-limitationdelhi-hc.html Clipped from: https://taxguru.in/income-tax/notice-u-s-274-income-tax-act-issued-period-limitationdelhi-hc.html PCIT Vs Thapar Homes Ltd. (Delhi High Court) Introduction: The Delhi High Court, in the case of PCIT vs. Thapar Homes Ltd. for
घरभाडे भत्ता करमुक्त करुन घेता येतो का?
https://www.loksatta.com/business/personal-finance/can-house-rent-allowance-be-taken-tax-free-mmdc-mrj-95-4148584/ Clipped from: https://www.loksatta.com/business/personal-finance/can-house-rent-allowance-be-taken-tax-free-mmdc-mrj-95-4148584/ घरभाडे भत्ता हा कर्मचाऱ्याच्या पगाराच्या उत्पन्नाचा एक भाग आहे आणि म्हणूनच, ते करपात्र उत्पन्न मानले जाते. घरभाडे भत्ता हा कर्मचाऱ्याच्या पगाराच्या उत्पन्नाचा
Money Mantra : घरभाडे भत्ता करमुक्त करुन घेता येतो का? | Can house rent allowance be taken tax free
https://www.loksatta.com/business/personal-finance/can-house-rent-allowance-be-taken-tax-free-mmdc-mrj-95-4148584/ Clipped from: https://www.loksatta.com/business/personal-finance/can-house-rent-allowance-be-taken-tax-free-mmdc-mrj-95-4148584/ घरभाडे भत्ता हा कर्मचाऱ्याच्या पगाराच्या उत्पन्नाचा एक भाग आहे आणि म्हणूनच, ते करपात्र उत्पन्न मानले जाते. घरभाडे भत्ता हा कर्मचाऱ्याच्या पगाराच्या उत्पन्नाचा
Statsguru: Record tax filings indicate potential growth challenges ahead
https://www.business-standard.com/economy/news/statsguru-record-tax-filings-indicate-potential-growth-challenges-ahead-124010700474_1.html Clipped from: https://www.business-standard.com/economy/news/statsguru-record-tax-filings-indicate-potential-growth-challenges-ahead-124010700474_1.html Gross total income has gone up 229 per cent since AY13 and was nearing Rs 70 trillion as of AY22. Tax payable
TAX JUDGMENTS OF HC ANNUAL: CASE DIGEST 2023 – I
Clipped from: https://www.taxscan.in/tax-judgments-of-high-courts-annual-case-digest-2023-part-1/358430/ This Annual Case Digest analytically summarizes the key stories related to Tax judgements of various High Courts in India reported in Taxscan.in during
👌IT alerts see big jump, 3 million taxpayers asked to explain discrepancy in returns – Income Tax News | The Financial Express
https://www.financialexpress.com/money/income-tax-it-alerts-see-big-jump-3-million-taxpayers-asked-to-explain-discrepancy-in-returns-3352046/ Clipped from: https://www.financialexpress.com/money/income-tax-it-alerts-see-big-jump-3-million-taxpayers-asked-to-explain-discrepancy-in-returns-3352046/ The Income Tax (IT) department has sent alerts through text messages and emails to around 3 million salaried taxpayers across the country.
👌Tax Talk: NRIs must update status on PAN – Income Tax News | The Financial Express
https://www.financialexpress.com/money/income-tax-tax-talk-nris-must-update-status-on-pan-3352149/ lipped from: https://www.financialexpress.com/money/income-tax-tax-talk-nris-must-update-status-on-pan-3352149/ Know India’s residency and source rules for taxation. If your stay in India exceeds 182 days in a financial year, you are
👌NRIs in a bind as taxman slaps advisories on high-value transactions – The Hindu BusinessLine
https://www.thehindubusinessline.com/money-and-banking/nris-in-a-bind-as-taxman-slaps-advisories-on-high-value-transactions/article67695703.ece Clipped from: https://www.thehindubusinessline.com/money-and-banking/nris-in-a-bind-as-taxman-slaps-advisories-on-high-value-transactions/article67695703.ece The I-T communications could be the result of duplicate entries in form 26 AS or investments done under a joint account The
👌Interest on delayed TDS payment is not an allowable business deduction
https://taxguru.in/income-tax/interest-delayed-tds-payment-allowable-business-deduction.html#google_vignette Clipped from: https://taxguru.in/income-tax/interest-delayed-tds-payment-allowable-business-deduction.html#google_vignette Expat Engineering India Ltd. Vs ACIT (ITAT Bangalore) In a recent case, Expat Engineering India Ltd. faced a challenge regarding the disallowance
👌Income Tax Department uses Data Analytics and Advanced Technology to detect Discrepancies in ITR, Recovers Rs 36,000 Crores
Clipped from: https://www.taxscan.in/income-tax-department-uses-data-analytics-and-advanced-technology-to-detect-discrepancies-in-itr-recovers-rs-36000-crores/357984/ The Income Tax Department has used data analytics and advanced technology has helped the income tax department recover ₹36,000 crore from outstanding tax
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