Important Direct Tax Amendments in Budget 2023 for individual and business owners
Considering the above standard deduction and new tax slabs it was mentioned in the Parliament that a salaried employee will...
Friday, February 3, 2023
Consequences of Accepting cash while selling a Immovable property, land or house | 100% Penalty
However, is it correct that one could accept consideration in cash while selling house or land and there are no...
E-mail from TRACES to deductors explaining the e-verification scheme. What to do?
So, if we go through the e-mail it is mostly regarding a new feature being introduced by the Income tax...
Limit of SFT reporting in case of interest removed by Income Tax Department
CBDT has vide notification no. 01/2023 Dt. 05.01.2023 removed any limit for filing SFT report u/s 285A of the Income...
Provisions related to Set off of losses under various heads of Income during the year in Income Tax Act
Inter head adjustment of losses means adjustment of losses of one head of income against income from another head during...
Extension of time limit for compliance to be made for claiming any exemption under Section 54 to 54GB of the I.T. Act till 31.03.2023
Do you think that the circular is helpful because in our opinion that this relaxation is a bit late as...
Clarification for the purposes of Section 269ST of the I.T. Act in respect of dealership/distributorship contract in case of Co-operative Societies
References have been received in respect of Milk Producers' Cooperative as to whether under the provisions of Section 269ST of...
Income tax Non-filers are receiving notice from Income Tax department for filing income tax return
Based on available information with Income Tax department, it appears that you were required to file ITR for A.Y. 2022-23...
Taxpayers receiving notice from Income tax department for high value information not appearing in Income tax return
Income Tax Department has identified certain high value information which does not appear to be in line with the Income...
Digitally signing the notice does not satisfy that notice was issued to assessee: Bombay High Court [Read order]
In view of the discussion made above, we hold that mere digitally signing the notice is not the issuance of...
What is the meaning of Total Income under Income Tax Act
In computing the total income of a previous year of any person, any income falling within any of the following...
31.12.2022 is the last date for filing Income tax return for AY 2022-23
However, w.e.f. 01.04.2021 it was announced by Income Tax Department that the due date for filing belated or revised return...
Gross Direct Tax collections for the Financial Year (FY) 2022-23 register a growth of 25.90%
The figures of Direct Tax collections for the Financial Year 2022-23, as on 17.12.2022 show that net collections are at...
Partial relaxation to Non-resident from online filing of Form 10F who does not have PAN in India
Many non-resident were facing it difficult to submit Form 10F online on e-filing portal as for submitting Form 10F online,...
Are students required to file income tax return in India?
One would think what are students earning that they are required to file Income tax return in India? If this...
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- Important Direct Tax Amendments in Budget 2023 for individual and business owners
- [Live] Updates and Tax changes for Budget 2023 | Tax on cryptocurrency | Income tax and GST udpates in Budget 2023 [Download Bill]
- 2nd highest Gross GST collection in January 2023, breaching earlier 2nd highest record in the Month of October 2022
- CBDT instructs Income tax officer to complete 148/ 147 assessment before 31.05.2023
- Final stage of Union Budget 2023-24 commences with Halwa Ceremony
- Clarification on entitlement of ITC where place of supply is determined in terms of proviso to sub-section (8) of section 12 of the IGST Act
- Consequences of Accepting cash while selling a Immovable property, land or house | 100% Penalty
- How many articles can a Chartered Accountant register for articleship?
- Advisory on facility of ‘Initiating Drop Proceedings’ of Suspended GSTINs due to Non-filing of Returns – Update
- ICAI has launched free task management or practice management software for members in Practice
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