Clipped from: https://www.financialexpress.com/money/itr-filing-for-ay2025-26-begins-for-these-taxpayers-over-54k-income-tax-returns-filed-in-3-days-3865347/ This year there has been a significant delay in both notifying the ITR forms and updating online & offline utilities to support tax
Category: Seven Star
*******GST ITC Reversal: Fire, Theft & Damaged Goods
Clipped from: https://taxguru.in/goods-and-service-tax/gst-itc-reversal-fire-theft-damaged-goods.html Summary: Under Section 17(5)(h) of the CGST Act, Input Tax Credit (ITC) is restricted for goods lost, stolen, destroyed, written off, or disposed
*******AIS, TIS and form 26AS in income tax
Clipped from: https://taxguru.in/income-tax/ais-tis-26as-income-tax.html “Understand the significance of Annual Information System (AIS), Taxpayer Information Summary (TIS), and Form 26AS in income tax. Learn how these tools help
*******Order passed without considering reply is liable to be quashed: Gujarat HC
Clipped from: https://taxguru.in/income-tax/order-passed-reply-liable-quashed-gujarat-hc.html Hasmukhbhai Girdharilal Chopra Vs National Faceless Assessment Centre (Gujarat High Court) Gujarat High Court held that reassessment order passed under section 148 of
*******Reopening of assessment quashed as based on change of opinion: Bombay HC
Clipped from: https://taxguru.in/income-tax/reopening-assessment-quashed-based-change-opinion-bombay-hc.html Prithvi Apartments Co-operative Housing Society Limited Vs ACIT (Bombay High Court) Bombay High Court held that since issue already examined during the course
*******Reassessment u/s. 148 quashed as all necessary information already supplied: Gujarat HC
Clipped from: https://taxguru.in/income-tax/reassessment-u-s-148-quashed-information-supplied-gujarat-hc.html Adani Wilmar Limited Vs ACIT (Gujarat High Court) Gujarat High Court held that reassessment under section 148 of the Income Tax Act is
*******HC held that the Assessing Officer could not reopen the …
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=88912 HC held that the Assessing Officer could not reopen the assessment merely on a change of opinion. The court found that the petitioner
*******Reopening quashed as information in notice is ambiguous and fails to establish live link with evidence
Clipped from: https://taxguru.in/income-tax/reopening-quashed-information-notice-ambiguous-fails-establish-live-link-evidence.html Pranav Ramesh Pariikh Vs DCIT (Gujarat High Court) Gujarat High Court held that reopening of assessment under section 148 of the Income Tax
*******Matter restored to CIT(A) as personal hearing notice was sent via email inspite of specifically opting out
lipped from: https://taxguru.in/income-tax/matter-restored-cit-a-personal-hearing-notice-email-inspite-specifically-opting.html Sarita Konda Vs ITO (ITAT Raipur) ITAT Raipur restored the matter to the file of CIT(A) for fresh adjudication as intimation of fixation
*******Pune activist’s bitter battle to bring epilepsy under health insurance cover – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/pune-activists-bitter-battle-to-bring-epilepsy-under-health-insurance-cover/article69633741.ece Meet Yashoda Wakankar who has lodged a PIL against IRDAI for excluding the neurological disorder Yashoda Wakankar, Founder of Sanvedana For Yashoda Wakankar,
*******Misleading debate on RBI draft gold loan norms – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/misleading-debate-on-rbi-draft-gold-loan-norms/article69634473.ece The proposed lending and collateral directives are fair to all parties concerned. The current debate misses basic issues Gold loan draft norms have
*******Finance Ministry urges RBI to delay gold loan rules to Jan 1 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/finmin-hopes-rbi-will-consider-all-concerns-before-finalising-new-gold-loan-regulations/article69636433.ece The Ministry, guided by Finance Minister Nirmala Sitharaman, also suggested exemptions for small borrowers (under ₹2 lakh) Responding to concerns raised by Tamil
*******Taxpayers can now use Excel utility to file ITR-1, ITR-4 for AY 2025-26 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/taxpayers-can-now-use-excel-utility-to-file-itr-1-itr-4-for-ay-2025-26/article69636493.ece These forms are now available for reporting income earned between April 1, 2024, and March 31, 2025, with the filing deadline set for
*******Yen for growth – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/yen-for-growth/article69633331.ece Euphoria over GDP size should be tempered with realism India’s GDP growth is commendable but inequality needs to be tackled | Photo Credit:
*******Eight years on, RERA long on promise, short on delivery – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/eight-years-on-rera-long-on-promise-short-on-delivery-3862115/ Eight years since its launch, RERA has improved real estate transparency but suffers from weak enforcement, data overload, and uneven state implementation. While
*******ITR Filing: Excel utilities for ITR-1, ITR-4 released; Check if you can use them to file Income Tax Return – Income Tax News | The Financial Express
lipped from: https://www.financialexpress.com/money/income-tax-itr-filing-excel-utilities-for-itr-1-itr-4-released-check-if-you-can-use-them-to-file-income-tax-return-3862422/ Taxpayers can download these utilities, fill in their income details offline, validate the information, and then generate a JSON file. The Income Tax Department has
*******Income Tax Return: Get Form 16 from your employer and what to do if Form 16 missing | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/it-s-time-to-get-form-16-from-your-employer-and-what-to-do-if-it-s-missing-125052900982_1.html Form 16 summarises salary paid and tax deducted at source in a financial year; it’s needed to file returns Form 16. Photo: Shutterstock
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