Cost inflation index (CII) is used in Income Tax to give inflation effect to cost for long term capital asset...
Read moreAccording to the provision of Act and debt oriented mutual fund purchased after 01.04.2023 or market linked debentures will always...
Read moreThe benefit enjoyed by bank employees from interest-free loans or loans at a concessional rate is a unique benefit/advantage enjoyed...
Read moreWhen one shows this income as business income they cannot offer this income under 44AD, as 44AD does not allow...
Read moreThis new functionality is expected to increase transparency by displaying such information in AIS to the taxpayer. This is another...
Read moreSection 6 deals with deciding on the residency of a person under Income tax act. In this article we shall...
Read moreThus, a person could earn around 770000 under new tax regime and could end up paying only Rs.20800 in tax...
Read more(ii) Form No. 10AB, in case of an application under clause (iii) of the first proviso to clause (23C) of...
Read moreThus, considering the above grievance, CBDT has modified the above circular to provide relaxation and state that in case where...
Read moreThus, revenue cannot go into appeal before above mentioned authority if the tax effect in any appeal as mentioned above...
Read moreIt is thus advisable to file Income tax return after all SFT details are available on e-filing portal that if...
Read moreAdditionally, the court noted that the details regarding the source of funds should have been sought from the petitioner's husband...
Read moreOnce, notice is received u/s 148 of the Act, assessee needs to file Income tax return in response to such...
Read moreWhile it would be open for the AO, for reasons so recorded, to doubt or reject a valuation that may...
Read moreData analysis was carried out in some high-value cases of mismatch between the rent paid by the employee and receipt...
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