https://www.financialexpress.com/money/flat-sold-10-days-after-registration-itat-ruling-offers-key-ltcg-tax-lesson-for-homebuyers-4363183 Property buyers in India can get tax relief by keeping in mind an important consideration: the Income Tax Act allows calculating the holding periods
Category: Seven Star
*******US stocks vanish from broker account: How this salaried investor fixed his ITR
https://www.financialexpress.com/money/us-stocks-vanish-from-broker-account-how-this-salaried-investor-fixed-his-itr-4363009 Filing an income tax return for foreign assets is complex enough when all broker statements are readily available. But what happens when an investor
*******Rs 3.99 lakh penalty for under-reporting income and paying Rs 2 lakh less in income tax; ITAT Jaipur cancels penalty, know why
Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-3-99-lakh-penalty-for-under-reporting-income-and-paying-rs-2-lakh-less-in-income-tax-itat-jaipur-cancels-penalty-know-why/articleshow/134985612.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/rs-3-99-lakh-penalty-for-under-reporting-income-and-paying-rs-2-lakh-less-in-income-tax-itat-jaipur-cancels-penalty-know-why/articleshow/134985612.cms When Mr Sharma from Sikar, near Jaipur, did not file any income tax return, the Income Tax Department sent him a
*******₹1.70 crore undisclosed cash alleged in property sale, Income Tax Dept relies on WhatsApp chats and Excel sheets; here’s why taxpayer wins at ITAT Delhi
Read more at:https://economictimes.indiatimes.com/wealth/legal/will/1-70-crore-undisclosed-cash-alleged-in-property-sale-income-tax-dept-relies-on-whatsapp-chats-and-excel-sheets-heres-why-taxpayer-wins-at-itat-delhi/articleshow/134957932.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Can WhatsApp chats, spreadsheets and handwritten notes prove that a taxpayer received undisclosed cash from a property sale? It depends on whether
*******Wrong PAN, Rs 1.46 Cr tax notice: How a Mumbai man earning Rs 3,500 fought back at ITAT
https://www.financialexpress.com/money/wrong-pan-rs-1-46-cr-tax-notice-how-a-mumbai-man-earning-rs-3500-fought-back-at-itat-4360271 An income-tax notice can have serious financial consequences for a taxpayer, particularly when the Income Tax Department reopens an old assessment and makes additions
*******Search-Linked S.148 Notice for AY 2015-16 Issued in March 2026, beyond 10 years Limit: Delhi HC quashes Notice
https://www.taxscan.in/income-tax/search-linked-s148-notice-for-ay-2015-16-issued-in-march-2026-beyond-10-years-limit-delhi-hc-quashes-notice-read-order A reassessment notice cannot travel beyond the outer limitation period under Section 149 even where the alleged escaped income exceeds Rs. 50 lakh The
*******Income tax penalty waiver: CBDT revises Form 161 to cover misreporting cases; check rules
An income tax penalty can run into a substantial amount, especially in cases involving misreporting of income. But taxpayers may have a way to seek
*******सुजाता रायकर यांच्याबद्दल लोकसत्ता मध्ये ” लोकसत्ता दुर्गा ” या सदरात आलेली माहिती –[१] आज देशात सुमारे पाच कोटी लोक ” थॅलेसेमिया मायनर ” आहेत आणि एक ते दीड कोटी ” थॅलेसेमिया मेजर ” आहेत . यात दरवर्षी सुमारे १५००० बालकांची भर पडते. [२] गुजरातमधून ” कॉम्पुटर सायन्स अँड अँप्लिकेशन्स ” मध्ये पदव्यूत्तर शिक्षण पूर्ण केल्यानंतर लग्न होऊन सुजाता मुंबईत आल्या आणि २००८ पासून त्यांनी अशा बालरुग्णांसाठी काम करण्यास सुरुवात केली [३] सुजाता आज तब्बल २८० बालरुग्णांच्या आई आहेत. -त्यांच्यासाठी त्या आई आहेतच –संपूर्ण आयुष्यभर औषध उपचाराची जबाबदारी घेतातच पण प्रसंगी शाळेची फी –महिन्याचा शिधा –त्यांना नोकरी मिळवून देण्यासाठी प्रयत्न करणे अशा सगळ्याच गोष्टी त्या पार पाडतात. [४] या आजाराबद्दल जागृती निर्माण करण्याचे काम त्या अविरतपणे करत आहेत. -त्यांनी गेल्या १८ वर्षात ३० लाखाहून अधिक लोकांना शिक्षित केले आहे. [ ५] त्यांचा सत्कार महाराष्ट्राचे तत्कालीन राज्यपाल श्री रमेश बैस — प्रसिद्ध समाजसेवक अण्णा हजारे यांच्या हस्ते झाला आहे.– बातमी सौजन्य लोकसत्ता
सुजाता रायकर यांच्याबद्दल लोकसत्ता मध्ये ” लोकसत्ता दुर्गा ” या सदरात आलेली माहिती –[१] आज देशात सुमारे पाच कोटी लोक ” थॅलेसेमिया मायनर ” आहेत
*******Compensation of Rs 100 to Rs 5,000 per day for delay by bank in processing your request in these 5 situations
Read more at:https://economictimes.indiatimes.com/wealth/legal/will/compensation-of-rs-100-to-rs-5000-per-day-for-delay-by-bank-in-processing-your-request-in-these-5-situations/articleshow/134782214.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst What happens if you apply for a credit card closure with your bank, and it takes longer than the prescribed time limit?
*******RBI’s rate hike matters. Its shift to calibrated tightening matters more–Courtesy ET
https://economictimes.indiatimes.com/opinion/et-commentary/rbis-rate-hike-matters-its-shift-to-calibrated-tightening-matters-more/articleshow/134772238.cms RBI’s 25 bps rate increase announced on Wednesday is significant. But equally important is the signal that accompanied it. By raising the repo rate
*******Reality bites
https://www.financialexpress.com/opinion/reality-bites-2/4355985 The 25-basis-point (bps) hike in the repo rate, together with the shift in stance from neutral to “calibrated tightening”, gives Wednesday’s policy announcement a
*******Taxpayer claims Rs 37.8 lakh deduction but faces 200% penalty: What ITAT says next
A cooperative housing society claimed a Rs 37.82 lakh tax deduction on interest income. The Income Tax Department rejected the claim and went a step
*******Rs 85.3 lakh cash gifts from relatives deposited in bank trigger unexplained deposit income tax notice; taxpayer contests and wins case in ITAT Chennai
Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-85-3-lakh-cash-gifts-from-relatives-deposited-in-bank-trigger-unexplained-deposit-income-tax-notice-taxpayer-contests-and-wins-case-in-itat-chennai/articleshow/134685488.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst When Mr Amirtharaj from Mylai Ranganathan Street, Thygarayanagar (Chennai), got cash gifts totalling Rs 85.03 lakh from his relatives, he executed gift
*******Rs 67 lakh ancestral jewellery declaration in ITR triggers income tax notice of unexplained credit: Here’s why lady won at ITAT Mumbai
Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-67-lakh-ancestral-jewellery-declaration-in-itr-triggers-income-tax-notice-of-unexplained-credit-heres-why-lady-won-at-itat-mumbai/articleshow/134694269.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst When Mrs Parikh from Vile Parle West, Mumbai, submitted Schedule AL in her income tax return (ITR) for the first time after
*******Redevelopment Transit Rent Is Capital Receipt Regardless of Actual Spending: ITAT Mumbai
Read more at: https://taxguru.in/income-tax/redevelopment-transit-rent-capital-receipt-actual-spending-itat-mumbai.html Copyright © Taxguru.in Summary: For assessment year 2017-18, the ITAT Mumbai considered an appeal against reassessment proceedings in which three additions
