Category: Income Tax
No Tax Liability on Compensation received towards Interest cost, Insurance cost, cost of Modification and Validation of the Assets, Warranty, Restating, etc.: ITAT
Clipped from: https://www.taxscan.in/no-tax-liability-on-compensation-received-towards-interest-cost-insurance-cost-cost-of-modification-and-validation-of-the-assets-warranty-restating-etc-itat/194439/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=No%20Tax%20Liability%20on By Taxscan Team – On September 23, 2022 1:58 pm The Income Tax Appellate Tribunal (ITAT) Mumbai bench has held that no tax liability on compensation received towards interest cost,
Understanding on TDS under GST
Clipped from: https://taxguru.in/goods-and-service-tax/understanding-tds-gst.html TDS under GST is applicable since 1st October 2018. As per GST Law- Certain categories of registered persons will be require to deduct taxes while
TDS under GST applicable if services not exempt from GST
Clipped from: https://taxguru.in/goods-and-service-tax/tds-gst-applicable-services-exempt-gst.html In re Tukaram Pundalik Borade (GST AAR Maharashtra) The applicant has submitted that the Samaj kalyan Vibhag of the Government of Maharashtra has
Tax Deducted at Source (TDS) | Section 51 | CGST Act 2017
Clipped from: https://taxguru.in/goods-and-service-tax/tax-deducted-at-source-tds-section-51-cgst-act-2017.html Tax Deducted at Source Section 51 of CGST Act (1) As per section 51 of the CGST Act Tds will be deducted by the
AAR explains Requirement of TDS under Section 51 of CGST Act 2017
Clipped from: https://taxguru.in/goods-and-service-tax/aar-explains-requirement-tds-section-51-cgst-act-2017.html In re Udupi Nirmithi Kendra (GST AAR Karnataka) In the first scenario, since the value of the single invoice is more than Rs.2.5
Comprehensive Guide on TDS on GST @ 2% (with Examples)
Clipped from: https://www.charteredclub.com/tds-gst/ TDS @ 2% is required to be deducted on payment made to the supplier of taxable goods or services of both where the
No addition To Be Made When Notice Issued By AO Is Based On Borrowed Satisfaction: ITAT
lipped from: https://www.taxscan.in/no-addition-to-be-made-when-notice-issued-by-ao-is-based-on-borrowed-satisfaction-itat/207383/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=No%20Addition By Gayathri C.H – On September 26, 2022 5:53 pm The Income Tax Appellate Tribunal, Ahmedabad, has in a recent appeal filed before it by the assessee,
Information from DIT (I), not to considered as Information from External Source: ITAT
Clipped from: https://www.taxscan.in/information-from-dit-i-not-to-considered-as-information-from-external-source-itat/207379/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Information%20from%20DIT%20(I) By Gayathri C.H – On September 26, 2022 6:05 pm The Income Tax Appellate Tribunal “SMC” Bench, Mumbai, has, in a recent appeal filed by the revenue, held that the
Explained: Taxation on the sale of immovable property in India by non-residents
Explained: Taxation on the sale of immovable property in India by non-residents https://economictimes.indiatimes.com/nri/invest/explained-taxation-on-the-sale-of-immovable-property-in-india-by-non-residents/articleshow/94450844.cms Download Economic Times App to stay updated with Business News – https://etapp.onelink.me/tOvY/135dde21
Income Tax | Capital Gains: How to save income tax on capital gains from selling a house
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-save-income-tax-on-capital-gains-from-selling-a-house/articleshow/94051014.cms Synopsis If you have sold a house in the current financial year, then capital gains derived from such a sale will be taxable
Tax Query: How can I claim capital loss from DHFL shares/NCDs? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-can-i-claim-capital-loss-from-dhfl-sharesncds/article65895696.ece Capital gains/loss comes into the picture only when a capital asset is transferred Can I claim capital loss with regard to DHFL shares?
income tax compounding: Income Tax department relaxes norms for compounding of offence – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/income-tax-department-relaxes-norms-for-compounding-of-offence/articleshow/94273116.cms Synopsis Issuing the revised guidelines for Compounding of offences under the Income-tax Act, 1961, the Central Board of Direct Taxes (CBDT) said: “The
Belated ITR Filing Under New Tax Regime: Can you claim the new tax regime benefit while filing belated income tax returns (ITR)?
Clipped from: https://economictimes.indiatimes.com/wealth/tax/can-you-claim-the-new-tax-regime-benefit-while-filing-belated-income-tax-returns/articleshow/94216350.cms Synopsis Have you calculated your income taxes according to the new income tax regime but missed the deadline to file an income tax
Income Tax | Capital Gains: How to save income tax on capital gains from selling a house
lipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-save-income-tax-on-capital-gains-from-selling-a-house/articleshow/94051014.cms Synopsis If you have sold a house in the current financial year, then capital gains derived from such a sale will be taxable
HUF: How Hindu Undivided Family (HUF) can help you save income tax?
Clipped from: https://economictimes.indiatimes.com/wealth/tax/huf-can-help-you-save-substantial-income-tax-heres-how/articleshow/94213078.cms Synopsis An HUF is treated as a separate tax entity; it enjoys a separate basic tax exemption of Rs 2.50 lakh in addition
IT Notice for Proposed Adjustment u/s 143(1)(a) – Learn by Quicko
Clipped from: https://learn.quicko.com/income-tax-notice-for-proposed-adjustment-section-143-1-a What is Notice u/s 143(1)(a) Communication received u/s 143(1)(a) is communication for proposed adjustment u/s 143(1)(a) received from the income tax department. This notice is
Notices issued to wrong Email address – HC set-aside Assessment order
Clipped from: https://taxguru.in/income-tax/notices-issued-wrong-email-address-hc-set-aside-assessment-order.html Nita Roy Vs Union of India (Calcutta High Court) The petitioner by way of filing this writ petition challenged the assessment order, demand
CBDT asks those who have won money in online games to pay taxes, file updated ITR
CBDT asks those who have won money in online games to pay taxes, file updated ITR https://economictimes.indiatimes.com/wealth/tax/cbdt-asks-those-who-have-won-money-in-online-games-to-pay-taxes-file-updated-itr/articleshow/93849713.cms Download Economic Times App to stay updated with
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