New 26AS NEW CHANGE IN INCOME TAX & ITR FILING I CA SATBIR SINGH From AY 2023-24 onwards, Annual Tax Statement available on TRACES portal will display only TDS/TCS related data. Other details would be available in the AIS (Annual Information Statement) at e-filing portal (https://www.incometax.gov.in/iec/fopo…. For data prior to AY 2023-24, there would be… Read More »
ATTENTION NON FILER OF ITR I GOOD NEWS I EXPLAINED i INCOME TAX RETURN I CA SATBIR SINGH
No Interest under Section 234A if the tax due had already been paid which was not less than the tax payable on the returned income : Supreme Court SUPREME COURT OF INDIA Commissioner of Income-tax v. Pranoy Roy ASHOK BHAN AND V.S. SIRPURKAR, JJ. CA NO. 448 OF 2003 AND 3125 OF 2006 SEPTEMBER 17, 2008 P.V.… Read More »
Sec. 234B(2A) interest is levied on additional income tax payable after providing set-off of all prepaid taxes: HC HIGH COURT OF GUJARAT Shiv Shipping and Logistics v. Income Tax Settlement Commission Addl. Bench II MS. SONIA GOKANI AND SANDEEP N. BHATT, JJ. R/SPECIAL CIVIL APPLICATION NO. 6290 OF 2021 FEBRUARY 1, 2023 S.N. Soparkar and B.S. Soparkar, Advs. for the… Read More »
CBDT notifies Income Tax Return Forms for Assessment Year 2023-24 well in advance Posted On: 15 FEB 2023 12:57PM by PIB Delhi The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Forms (ITR Forms) for the Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2023 and 14.02.2023. These ITR… Read More »
Non Filer of ITR , Interest to be levied only till date of payment of self-assessment tax : ITAT IN THE ITAT RAJKOT BENCH Dhirendra Narbheram Sheth v. Income-tax Officer Ward-2(3)(5), Rajkot WASEEM AHMED, ACCOUNTANT MEMBER MS. MADHUMITA ROY, JUDICIAL MEMBER I T APPEAL NO. 181 (RJT.) OF 2022 [ASSESSMENT YEAR 2011-12] FEBRUARY 3, 2023… Read More »
How to download form 16 for salaried employees Form 16 is a certificate issued by an employer to its employees, which contains details of the employee’s salary, tax deductions, and other relevant information. It is used by employees to file their income tax returns. If you are a salaried employee and need to download your… Read More »
MCQs on ITR filing What is the maximum amount of tax that can be saved through deductions under Section 80C of the Income Tax Act under Old tax regime for AY 2023-24? a. Rs. 1 lakh b. Rs. 1.5 lakh c. Rs. 2 lakh d. Rs. 2.5 lakh Answer (b) 2. Which of the following… Read More »
New Changes in ITR Form AY 2023-24 (CA Satbir Singh Conact us on Taxheal@gmail.com) ITR Form AY 2023-24 has been notified by CBDT . Download ITR-1 to ITR-6 for the current financial year, 2022-23 (AY 2023-24). The ITR forms were notified on February 10, 2023. The ITR-7 form was notified by the government on February… Read More »
CAR Expenses are allowed to partner on against interest/remuneration income received from firm: ITAT IN THE ITAT AHMEDABAD BENCH ‘SMC’ Mayank Ratibhai Patel v. Income-tax Officer WASEEM AHMED, ACCOUNTANT MEMBER AND SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER IT APPEAL NO. 2011 (AHD.) OF 2018 [ASSESSMENT YEAR 2012-13] JULY 20, 2022 S.N. Divitia, A.R. for the Applicant . Atul Pandey, Sr. DR. for… Read More »