Category: Income Tax

Clipped from: https://www.business-standard.com/article/pf/file-revised-income-tax-return-to-correct-errors-in-original-itr-122122200823_1.html Any refund you are eligible for won’t be processed unless you correct the mistakes in your return After filing your income-tax return (ITR), you

Clipped from: https://www.taxscan.in/supreme-court-holds-education-cess-not-allowable-as-expenditure-u-s-40aii-as-amended-retrospectively-in-budget-2022/234991/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Supreme%20Court By Manu Sharma A S – On December 17, 2022 6:36 am The Supreme Court has held the education cess paid to be not allowable as

Clipped from: https://economictimes.indiatimes.com/wealth/tax/nris-without-pan-can-manually-file-form-10f-till-march-31-2023-to-avoid-tds-on-payments-received/articleshow/96218833.cms Synopsis The Central Board of Direct Taxes (CBDT) has issued a notification on December 12, 2022 offering one-time relied to the non-resident taxpayers

Clipped from: https://www.business-standard.com/article/economy-policy/cbdt-exempts-from-mandatory-10f-form-requires-to-claim-tax-treaty-122121301228_1.html The form 10F is signed physically by the Non resident taxpayers and furnished along with the tax residency certificate to the resident payers

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-tax-audit-applicability/article66175655.ece Books of account are required to be maintained where the turnover (total value of sale transactions) exceeds ₹25 lakh or if the net

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-when-unpaid-loan-can-be-claimed-as-business-loss/article66238488.ece The Act does not have provisions for an individual to carry forward or set off losses of a partnership firm in his individual

Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-why-is-itr-verification-time-limit-reduced-is-the-reduction-going-to-stay/2911452/ An ITR filed online is not considered valid, unless it is verified within the prescribed limit – which was 120 days from the

Clipped from: https://taxguru.in/income-tax/tds-rentals-section-194i-section-194ib-section-194ic.html Section 194I : Any person excluding Individual and HUF (However if they have 1 Cr. Turnover in case of Business and 50 Lacs in

Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-tds-on-perks-further-clarity-needed-despite-cbdt-circular/2906818/ Several practical challenges in applying Section 194R remain With the objective to identify and tax such benefits, the Finance Bill 2022 introduced Section