Tax on Saving Bank Accounts I CA Satbir Singh This Video will help you to learn :- Do I have to pay taxes on my savings account in India? Do I need to pay tax on my savings? SAVINGS ACCOUNT: Interest on savings account is taxable as per Income tax slab rates applicable to the investor. However, deduction under#section 80TTA is allowed on… Read More »
Section 80G deduction for PM Care Fund based on Certificate issued by Employer : CBDT Section 80G In case donation is made by Employee through his or her employer, the fund may not be able to issue certificate to every such employee . Thus deduction can be claimed on the basis of Certificate issued by… Read More »
No Revision u/s 263 if barred by limitation Period : HC The action u/s 263 of the Act in so far as the premium paid was barred by limitation as laid down u/s 263(2) of the Act. We therefore quash the order u/s 263 of the Act on the ground of limitation. HIGH COURT OF… Read More »
No Income Tax Exemption to Schools with no Free Education or Scholarships :HC Trust Deed states that the fees and charges shall be fixed taking into account the cost of running including future development thereof though without an element of profit motive indicates that the actual intention of the trust is only to generate income… Read More »
GST Portal Can not be opened for TRAN 1 Filing if no technical glitches while uploading : HC GST Portal HIGH COURT OF RAJASTHAN Shree Motors v. Union of India ARUN BHANSALI, J. S.B. CIVIL WRIT PETITION NOS. 440 & 266 OF 2020 MARCH 18, 2020 Sharad Kothari and Prateek Gattani for the Appellant. Rajvendra Saraswat for the Respondent. JUDGMENT… Read More »
Open GST portal or allow manual filing of Tran-1 if could not be filed due to technical error : HC Open GST The claim of the petitioner is that initially, it tried to upload the details of the VAT credit in Form TRAN-1 on 27.12.2017 but the same could not be uploaded due to some… Read More »
Anticipatory bail under GST allowed on bond with surety: HC HIGH COURT OF GUJARAT Manmohan Lalman Agarwal v. State of Gujarat A Y. KOGJE, J. R/CRIMINAL MISC APPLICATION NO. 21575 OF 2019 JANUARY 31, 2020 N.D. Nanavati, Sr. Adv. and Nandish H. Thackar for the Applicant.. Ankit Shah and Ronak Raval for the Respondent. ORDER 1. This application is filed by the… Read More »
Section 54 Income Tax Act (Section 54 Income-tax Act 1961 – Finance Act, 2019) [ Also Refer video on How to Save Tax on Sale of House I CA Satbir Singh ] Profit on sale of property used for residence. 1 54. 2[(1)] 3[4[Subject to the provisions of sub-section (2), where, in the case of an… Read More »