https://taxguru.in/income-tax/presumptive-taxation-scheme-section-44ada-section-44ae.html Clipped from: https://taxguru.in/income-tax/presumptive-taxation-scheme-section-44ada-section-44ae.html Presumptive Taxation Scheme Under Section 44ADA and Section 44AE of Income Tax Act 1961 1. Presumptive Taxation Scheme of Section 44ADA: A
Category: Study
👍👍👍👍👍👍👍Income Tax benefits available to Small Businessmen for AY 2023-24
https://taxguru.in/income-tax/list-income-tax-benefits-small-businessmen.html Clipped from: https://taxguru.in/income-tax/list-income-tax-benefits-small-businessmen.html 2.f List of benefits available to Small Businessmen* S.N. Particulars Section Benefits/Deductions allowed A. Presumptive Taxation Scheme 1. Computation of income from
👍👍👍👍👍👍👍Benefit to Non- Residents under Income Tax Act, 1961
https://taxguru.in/income-tax/benefits-residents-income-tax-act-1961.html Clipped from: https://taxguru.in/income-tax/benefits-residents-income-tax-act-1961.html Benefits available to Non- Residents [AY 2024-25] 1. Who is a Non-Resident? Section 2(30) defines non-resident as a person who is not a
👍👍👍👍👍👍👍CPC not within Jurisdiction to Disallow Deduction u/s 80P of Income Tax Act: ITAT Allows West Bengal Cooperative Society’s Claim
Clipped from: https://www.taxscan.in/cpc-not-within-jurisdiction-to-disallow-deduction-u-s-80p-of-income-tax-act-itat-allows-west-bengal-cooperative-societys-claim/303261/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=CPC%20not%20within%20Jurisdiction%20to%20Disallow%20Deduction%20u/s%2080P%20of%20Income%20Tax%20Act:%20ITAT%20Allows%20West%20Bengal%20Cooperative%20Society%27s%20Claim The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the Central Processing Centre (CPC) was not within its jurisdiction to disallow
👍👍👍👍👍👍👍Taxability of Gift received by an individual or HUF with FAQs
https://taxguru.in/income-tax/taxability-of-gift.html Clipped from: https://taxguru.in/income-tax/taxability-of-gift.html Gifts received by individuals or HUFs can be subject to tax under certain conditions. This comprehensive guide explores the tax implications of
Read: Your queries: Income Tax; Tax on capital gain is payable as per date of transfer
https://www.financialexpress.com/money/income-tax/your-queries-income-tax-tax-on-capital-gain-is-payable-as-per-date-of-transfer/3182163/ Shared by Financial Express android app. Click here to download https://financialexpress.page.link/fe_app
👍👍👍👍👍Reopening of assessment u/s 148 for mere change of opinion is unsustainable
https://taxguru.in/income-tax/re-opening-assessment-u-s-148-mere-change-opinion-unsustainable.html Clipped from: https://taxguru.in/income-tax/re-opening-assessment-u-s-148-mere-change-opinion-unsustainable.html Mukand Limited Vs Union of India (Bombay High Court) Bombay High Court held re-opening of assessment under section 148 of the Income
👍👍👍👍👍👍👍Non-Mentioning of These 5 Incomes May Attract Income Tax Notice: Know the Details
Clipped from: https://www.taxscan.in/non-mentioning-of-these-5-incomes-may-attract-income-tax-notice-know-the-details/302024/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Non-Mentioning%20of%20These%205%20Incomes%20May%20Attract%20Income%20Tax%20Notice:%20Know%20the%20Details As the date for submitting Income Tax Returns (ITR) draws near, it is important to ensure that you submit your returns promptly. It is important
India bans white rice exports forthwith to control price – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/agri-business/india-bans-white-rice-exports-with-immediate-effect/article67101659.ece Clipped from: https://www.thehindubusinessline.com/economy/agri-business/india-bans-white-rice-exports-with-immediate-effect/article67101659.ece CBOT rice futures gain over 1%; Govt’s hands forced by 23% rise in FY23 shipments despite curbs The Indian government on Thursday
28% GST on horse race betting a great disappointment: TAI – The Hindu BusinessLine
https://www.thehindubusinessline.com/news/sports/28-gst-on-horse-race-betting-a-great-disappointment-tai/article67102153.ece Clipped from: https://www.thehindubusinessline.com/news/sports/28-gst-on-horse-race-betting-a-great-disappointment-tai/article67102153.ece TAI asks govt to review the GST rate to support agricultural-based industry The GST Council’s recent decision to impose 28 per cent
Attrition rates in private banks jump to over 30% on increased competition – The Hindu BusinessLine
https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Clipped from: https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Most players such as Axis Bank, Kotak Mahindra Bank and HDFC Bank have reported an increase in the turnover rates Employee turnover
‘De-dollarisation’ pact with UAE, a good step – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/editorial/de-dollarisation-pact-with-uae-a-good-step/article67102013.ece Clipped from: https://www.thehindubusinessline.com/opinion/editorial/de-dollarisation-pact-with-uae-a-good-step/article67102013.ece The UAE is India’s major trading partner and home to a large India Diaspora The Russia-Ukraine war and the resulting disruption in
Re internationalisation is not easy to achieve – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/re-internationalisation-is-not-easy-to-achieve/article67102589.ece Clipped from: https://www.thehindubusinessline.com/opinion/re-internationalisation-is-not-easy-to-achieve/article67102589.ece More than size of the economy and exports, credit rating and perceptions play a role in the rupee gaining universal acceptance It
Is tax regime for online gaming fair? – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/is-tax-regime-for-online-gaming-fair/article67102633.ece Clipped from: https://www.thehindubusinessline.com/opinion/is-tax-regime-for-online-gaming-fair/article67102633.ece The GST Council’s decision to tax online gaming at 28 per cent and applying that to the entire value of the transaction
👍👍👍👍👍👍👍Applicability of Tax Audit and Inter-link between Section 44AB, 44AD & 44ADA
https://taxguru.in/income-tax/applicability-tax-audit-inter-link-section-44ab-44ad-44ada.html Clipped from: https://taxguru.in/income-tax/applicability-tax-audit-inter-link-section-44ab-44ad-44ada.html Applicability of Tax Audit and Inter link between section 44AB vis-à-vissection 44AD and 44ADA of the Income Tax Act[Relevant for A.Y. 2023-24]
TDS Mismatch in 26AS and Profit & Loss Account: ITAT Orders Reassessment on Lack of Substantiating Evidence
Clipped from: https://www.taxscan.in/tds-mismatch-in-26as-and-profit-loss-account-itat-orders-reassessment-on-lack-of-substantiating-evidence/301323/ The Income Tax Appellate Tribunal of Kolkata Bench has issued a directive for the reassessment of a case where there was a discrepancy between the
GST Registration Cancellation Order not issued by Proper Officer: Delhi HC directs to Approach Authorities for Re-examination
Clipped from: https://www.taxscan.in/gst-registration-cancellation-order-not-issued-by-proper-officer-delhi-hc-directs-to-approach-authorities-for-re-examination/301291/ A Division Bench of Delhi High Court while entering a writ petition regarding the cancellation of the Goods and Services Tax (GST) Registration, directed the
AO Fails to Follow Procedures to Proceed Reassessment Proceedings under Income Tax Act; issued notices to different PAN Number: ITAT quashes notice u/s 148
Read More: https://www.taxscan.in/ao-fails-to-follow-procedures-to-proceed-reassessment-proceedings-under-income-tax-act-issued-notices-to-different-pan-number-itat-quashes-notice-u-s-148/301078/ Clipped from: https://www.taxscan.in/ao-fails-to-follow-procedures-to-proceed-reassessment-proceedings-under-income-tax-act-issued-notices-to-different-pan-number-itat-quashes-notice-u-s-148/301078/ The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the notice issued under Section 148 of the Income Tax Act, 1961 (the
👍👍👍👍👍👍👍NRIs can still file income tax return even if their PAN becomes inoperative
https://www.business-standard.com/finance/personal-finance/nris-can-still-file-income-tax-return-even-if-the-pan-becomes-inoperative-123071900268_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/nris-can-still-file-income-tax-return-even-if-the-pan-becomes-inoperative-123071900268_1.html Concerns have been raised by certain NRIs/ OCIs regarding their PANs becoming inoperative, although they are exempted from linking their PAN with
👍👍👍👍👍👍👍Consequence of failure to file deceased’s ITR: Penalties, interest, jail
https://www.business-standard.com/finance/personal-finance/consequences-of-failure-to-file-deceased-s-itr-penalties-interest-jail-123071900776_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/consequences-of-failure-to-file-deceased-s-itr-penalties-interest-jail-123071900776_1.html However, a legal heir’s liability is capped at the value of the inherited estate “The Sixth Sense” immortalised the phrase “I see
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