Daily Archives: November 3, 2021

Income Tax Department conducts searches in Karnataka Posted On: 03 NOV 2021 11:27AM by PIB Delhi The Income Tax Department carried out search and seizure operations on one of the leading groups of Karnataka, engaged in the civil construction of roads and irrigation projects, on 28.10.2021 at various premises located in North Karnataka. The search… Read More »

Income Tax Penalty if WIFE receives CASH from HUSBANDI CA Satbir Singh Facts of the Case Assessee received substantial amount of cash from her husband which was used to purchase property for residence of family members. Income Tax Officer levied penalty of Rs 3 Lakh u/s 271D of the Income Tax Act, 1961. CIT (A)… Read More »

New order on Income Tax Sec 54 Exemption if house purchased in Joint names I CA Satbir Singh