Non payment of Self Assessment Tax after filing ITR is not an offence : High Court

By | March 27, 2023

Non payment of Self Assessment Tax after filing ITR is not an offence : High Court The 1st petitioner company filed return of Income-tax admitting the tax liability of Rs. 38,00,170/-, but failed to make payment. However, on receiving notice dated 9-6-2016, in reply, the petitioners enclosed a challan for an amount of Rs. 50,55,310/-… Read More »

Income Tax on debt mutual funds from FY 2023-24 / AY 2024-25

By | March 26, 2023

Income Tax on debt mutual funds from FY 2023-24 / AY 2024-25 Income Tax on debt mutual funds from FY 2023-24 / AY 2024-25 will be taxed based on whether Mutual Funds are i) Specified Mutual Funds ii) other than Specified Mutual Funds Capital Gains from  Specified debt mutual funds will be taxed as short… Read More »

Power of commissioner of Income Tax

By | March 25, 2023

Power of commissioner of income tax Power of commissioner of Income Tax are defined in Income tax Act of India . [This article is written by CA satbir Singh (Contact us Taxheal@gmail.com )] The Commissioner of Income Tax is an important income tax authority which has executive and judicial powers. The Commissioner exercises the power… Read More »

Know your Member (KYM) Form FAQs by ICAI released

By | March 24, 2023

Know your Member (KYM) Form FAQs by ICAI released Members & Students Services (Grievances Handling and e-Sahaayataa) Directorate The Institute of Chartered Accountants of India 23rd March, 2023Announcement Implementation of Know your Member (KYM) Form The ICAI has launched “Know Your Member (KYM)” Form which is to be filed annually through Self-Service Portal (SSP) of the ICAI.… Read More »

Date of Linking Aadhaar Card extended till 31.03.2024

By | March 23, 2023

Date of Linking Aadhaar Card extended till 31.03.2024 MINISTRY OF LAW AND JUSTICE (Legislative Department) NOTIFICATION New Delhi, the 21st March, 2023 S.O. 1359(E).—In exercise of the powers conferred by sub-section (5) of section 23 of the Representation of the People Act, 1950 (43 of 1950), the Central Government hereby makes the following amendment in… Read More »

Assessee eligible for sec. 54F relief even if he own house in foreign country : ITAT

By | March 23, 2023

Assessee eligible for sec. 54F relief even if he own house in foreign country : ITAT IN THE ITAT COCHIN BENCH Smt. Maries Joseph v. Deputy Commissioner of Income-tax, International Taxation, Kochi N.V. VASUDEVAN, VICE PRESIDENT AND MS. PADMAVATHY S., ACCOUNTANT MEMBER IT APPEAL NOS.613 AND 566 (COCH.) OF 2022 [ASSESSMENT YEAR 2015-16] JANUARY  2, 2023… Read More »