Read More: https://www.taxscan.in/raising-objection-is-a-valuable-legal-right-of-assessee-dept-cannot-deny-it-itat/164399/ Clipped from: https://www.taxscan.in/raising-objection-is-a-valuable-legal-right-of-assessee-dept-cannot-deny-it-itat/164399/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Objection Top Stories By Taxscan Team – On March 28, 2022 7:02 pm The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the
Category: Income Tax
*****ITR forms for FY 2021-22 notified, no major changes in income tax return forms – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-forms-for-fy-2021-22-notified-no-major-changes-in-income-tax-return-forms/articleshow/90588604.cms Synopsis The income tax return forms notified by the CBDT for FY 2021-22 have been kept unchanged. The individuals are required to provide
ITR forms for AY 22-23 notified – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-news/itr-forms-for-ay-22-23-notified/article65283013.ece New Indian ITR-5 Income tax Form with Indian currency and PAN or Permanent Account Number on isolated background. | Photo Credit: lakshmiprasad S
*****Govt notifies ITR forms for 2021-22; seeks details of income from overseas retirement benefit a/c | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/govt-notifies-itr-forms-for-2021-22-seeks-details-of-income-from-overseas-retirement-benefit-ac/2478811/ ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers.Sahaj
*****Taxations rules for different classes of income groups | The Financial Express
Clipped from: https://www.financialexpress.com/money/taxations-rules-for-different-classes-of-income-groups/2477754/ The taxpayers can claim the income tax exemption, which is available on a few of the salary components given either as ‘allowances’ or
*****4 important changes in income tax rules effective from 1 April 2022 | The Financial Express
Clipped from: https://www.financialexpress.com/money/4-important-changes-in-income-tax-rules-effective-from-1-april-2022/2477511/ A new income tax rule is introduced to provide an opportunity to the taxpayer to include missed or undisclosed income or any other
*****Income Tax: Better to pay 30% tax on capital gains on crypto sales in FY22 too | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-better-to-pay-30-tax-on-capital-gains-on-crypto-sales-in-fy22-too/2475294/ Budget 2022 clarified that from April 1, 2022, tax at 30% plus cess plus surcharge would be applicable on capital gains from crypto
*****New tax regime better for late tax planners | The Financial Express
lipped from: https://www.financialexpress.com/money/income-tax/tax-talk-new-tax-regime-better-for-late-tax-planners/2473160/ If you haven’t made tax-saving investments by March 31, you can’t claim the exemptions. In such a case, opt for the new concessional
Hero MotoCorp tax case: I-T finds Rs 800 cr siphoned off via shell firms | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/hero-motocorp-tax-case-i-t-finds-rs-800-cr-siphoned-off-via-shell-firms-122033101550_1.html The department also found that 10 acres of farm land in Delhi was purchased through a few paper companies Photo: Bloomberg An expenditure
Income tax return: Not filed ITR for FY 2020-21? You may be liable for higher TDS, TCS from Apr 1 – The Economic Times
lipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-return-not-filed-itr-for-fy-2020-21-you-may-be-liable-for-higher-tds-tcs-from-apr-1/articleshow/90491162.cms Synopsis The law for higher TDS, TCS in case of not filing ITR was announced in Budget 2021 and amended in Budget 2022.
2 EPF accounts, cryptocurrency tax, property sale TDS rules and other money changes from April 1 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/save/2-epf-accounts-cryptocurrency-tax-property-sale-tds-rules-and-other-money-changes-from-april-1/articleshow/90425511.cms Synopsis The beginning of the new financial year marks the changes in the tax rules and others money changes announced in the Union
How to respond to a notice for reassessment of income u/s 148A of I-T Act | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/how-to-respond-to-a-notice-for-reassessment-of-income-u-s-148a-of-i-t-act-122031800579_1.html Check the Relied Upon Documents, or RUDs, on the basis of which the assessing officer has started the reassessment proceedings Photo: Shutterstock The Income Tax Department
Not filed ITR yet? Face penalty or even jail term, Video Gallery – Business Standard
Clipped from: https://www.business-standard.com/multimedia/video-gallery/general/not-filed-itr-yet-face-penalty-or-even-jail-term-143846.htm BS Web Team Last Updated at March 28, 2022 15:25 IST Not filed ITR yet? Face penalty or even jail term The deadline for
Partnership Firm not liable to Explain Source of Capital Introduced by Partners: ITAT
Clipped from: https://www.taxscan.in/partnership-firm-not-liable-to-explain-source-of-capital-introduced-by-partners-itat/164223/ Top Stories By Rasheela Basheer – On March 27, 2022 12:00 pm The Delhi bench of the ITAT, on Friday held that the partnership firm would
Deduction claimed for cess, surcharge to be treated as ‘under-reported’ income – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/deduction-claimed-for-cess-surcharge-to-be-treated-as-under-reported-income/article65257159.ece Tax words on white texture background | Photo Credit: shylendrahoode The Finance Ministry has proposed that deduction claimed for cess and surcharge under
FinMin proposes changes to Finance Bill for crypto assets’ taxation | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/finmin-proposes-changes-in-crypto-assets-taxation-122032401328_1.html FM Sitharaman is expected to move an amendment clarifying that no tax deduction or set off would be available in place of mining
Assessing Officer doesn’t have Jurisdiction to Travel Beyond Issues found during Scrutiny Assessment: ITAT quashes Revisional Order [Read Order]–TAXSCAN
Read More: https://www.taxscan.in/assessing-officer-doesnt-have-jurisdiction-to-travel-beyond-issues-found-during-scrutiny-assessment-itat-quashes-revisional-order/162718/ Clipped from: https://www.taxscan.in/assessing-officer-doesnt-have-jurisdiction-to-travel-beyond-issues-found-during-scrutiny-assessment-itat-quashes-revisional-order/162718/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Scrutiny%20Assessment Top Stories By Rasheela Basheer – On March 22, 2022 2:07 pm The ITAT, Kolkata bench has recently held that the Commissioner, while invoking
Pr. Commissioner does not conduct Independent Inquiry before invoking Revisional Jurisdiction: ITAT quashes Order–TAXSCAN
Clipped from: https://www.taxscan.in/pr-commissioner-does-not-conduct-independent-inquiry-before-invoking-revisional-jurisdiction-itat-quashes-order/163893/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Pr.%20Commissioner Top Stories By Rasheela Basheer – On March 25, 2022 12:51 pm The Chandigarh bench of the ITAT, while quashing a revisional order under section 263
Re-Assessment is Invalid when Assessee disclosed All Material facts to complete Assessment: ITAT–TAXSCAN
Clipped from: https://www.taxscan.in/re-assessment-is-invalid-when-assessee-disclosed-all-material-facts-to-complete-assessment-itat/163927/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Re-Assessment Top Stories By Rasheela Basheer – On March 25, 2022 1:26 pm The Chennai bench of the ITAT has deleted a re-assessment passed under section 147
Failure to consider Objections of Assessee: Calcutta HC quashes Revision Order-TAXSCAN
Clipped from: https://www.taxscan.in/failure-to-consider-objections-of-assessee-calcutta-hc-quashes-revision-order/163529/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Calcutta%20HC Top Stories By Rasheela Basheer – On March 24, 2022 6:30 am While quashing an order for revision under section 263 of the Income Tax Act,
aniltikotekar4sme.com 