Monthly Archives: January 2024

Compensation received on termination of employment is not taxable in Income Tax : ITAT IN THE ITAT AHMEDABAD BENCH ‘D’ Shamik Pankajbhai Parikh v. Income-tax Officer MRS. ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER IT APPEAL NO. 659 (AHD.) OF 2023 [ASSESSMENT YEAR 2017-18] OCTOBER  31, 2023 D.V. Pathy and Hiren Karan, Advs. for the Petitioner. Raghwanand and Pratik Kumar for… Read More »

Refund amount deposited during search operation at midnight as it was not voluntary payments but under compelling circumstances : High Court HIGH COURT OF DELHI Neeraj Paper Marketing Ltd. v. Special Commissioner, Department of Trade & Taxes, GNCTD VIBHU BAKHRU AND AMIT MAHAJAN, JJ. W.P.(C) 158/2023 DECEMBER  5, 2023 Shammi Kapoor, Mrs. Kavita Jha, Vishal Kumar, Sandeep Gupta and Ms. Prachi Jain,… Read More »

Directorate of Income Tax (Systems), ARA Centre, Ground Floor, E-2 Jhandewalan Extension, New Delhi-110055 Insight Instruction No. 74 Date. 19.01.2024 No. DGIT(S)-ADG(S)-2l High Risk Transaction (Pan and Non-PAN) cases/2023-24 To, All Principal Chief Commissioner(s) of Income Tax/ CCsIT All Principal Director Generals(s) of Income Tax / DGsIT All Principal Commissioner(s) of Income Tax/ CsIT/ CsIT… Read More »

Text of Advisory on Income Tax Portal Know Your Refund Status service is now moved to Post-login for PAN users. Please access it through “Services” tab after login into e-Filing portal. Please Note : 1. If your refund due has been determined on or before 31st March 2023, please visit Protean (NSDL) website at Refund… Read More »

50% of the amount donated for the purpose of renovation/repair of the Mandir to Shri Ram Trust is eligible for deduction under Section 80G. Donations for purposes other than the renovation or repair of the temple are not eligible for deduction. Further, this 50% deduction under Section 80G shall be subject to the qualifying limit.… Read More »