posted: "INCOME TAX : Without corroborative evidence to prove authenticity of diary seized during search, Assessing Officer could not make additions in assessee's income on basis of notings in diary of third party by making presumptions as per section 292CINCOME T"
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posted: "INCOME TAX : Where an application filed by assessee before Tribunal for restoration of its appeal which was dismissed by Tribunal for want of prosecution was allowed and appeal became pending, tax demand raised by department was not crystallized and impug"
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posted: "The Income-tax Department has conducted search and seizure operations on a group based in Mumbai. The search and seizure action has led to the detection of foreign assets lying with a company registered in tax-haven British Virgin Islands (BVI). Highlight"
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posted: "The provisions relating to Authority for Advance Rulings ('AAR') was incorporated in the Income-tax Act, 1961 ('ITA') vide Finance Act, 1993 just after the liberalisation of the Indian economy in 1991, with a view to avoid dispute in respect of assessment"
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posted: "On Feb 01, 2021, the Finance Minister (FM) Nirmala Sitharaman has announced the Union budget 2021 proposals in the backdrop of a pandemic-affected economy in which the Government spending had gone up significantly, with a simultaneous dip in the tax colle"
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posted: "The Covid-19 and the accompanying lockdown has impacted almost every sector of the Indian economy. While in case of some sectors like the travel and hospitality sector, the impact has been more profound and disruptive, in order sectors like the service se"
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posted: "The Finance Bill, 2021 has proposed 80+ amendments to the Income-tax Act and other related Acts. In an attempt to the reduce tax litigation in India and rationalize the extant tax provisions, the Finance Bill, 2021 announced some major tax amendments, int"
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posted: "The extant income-tax provisions provide for substantial income-tax benefits to an employee at the time of withdrawal of retirement corpus from Provident Fund schemes held with the EPFO. Under this scheme, a specified sum (i.e. 12% of salary) is deducted "
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posted: "INCOME TAX: For computing indexed cost of property, date to be reckoned is date of allotment of property and not date on which possession certificate was issuedINCOME TAX: For computing indexed cost of property, date to be reckoned is date of allotment of"
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posted: "INCOME TAX : Where assessee federation of co-operative societies received contribution from it members for education of members and it was to be utilised as per decision of Advisory Board as per directions of State Government, same could not be assessed a"
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