ITAT condones delay in appeal filing due to illness of chief accountant ITAT Ahmedabad Shri Pawan S. Jalan Vs ACIT ITA No.1567/Ahd/2017 Date of Judgement/Order : 01/02/2019 Assessee is in appeal before the Tribunal against order of the ld.CIT(A)-5, Ahmedabad dated 29.5.2017 passed for the Asstt.Year 2013-14. 2. Though the assessee has taken five grounds… Read More »
Download Intimation from TRACES : E Tutorials Important Information on Default Intimation • Only TRACES Registered users can see this Default Intimation functionality. • Deductor can check the intimation in “Inbox” option of “Communication “tab.There are two tab “Action Required “ and “General Awareness(no action required )”after click on “Inbox Tab”. User need to check… Read More »
No TDS is required to be deducted by purchaser even if consideration of property exceeds Rs 50 lakh but every co-owner share is less than Rs 50 Lakh:- ITAT Income Tax Appellant Tribunal ( ITAT), Delhi in case of Vinod Soni Vs ITO ITA No 2736/Del/2015 has held that Each transferee is a separate income… Read More »
This is time of the year when we are scurrying to put together our investment proofs and tax savings documents. You family can help you save taxes too, let’s find out how. Health insurance of Family can help to Save Income Tax The pressures of modern living have put our health at greater risk. While… Read More »
Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before taking any decision based on the information below. Tax Saving Life Insurance Plans Life insurance policies are useful tax planning tools, because the policy holder is eligible for tax benefits under the Income Tax Act… Read More »
There are different ways through which you can save tax. Some of them are: 1. By buying life insurance: The premiums paid on life insurance policies are eligible for deduction from taxable income under Section 80C resulting in tax save. Some of the other tax-savings options which fall under this section are PPF, NSC (National Savings Certificates), Sukanya Samriddhi,… Read More »
HIGH COURT OF MADRAS Deputy Commissioner of Income Tax v. Visvas Promoters (P.) Ltd. DR. VINEET KOTHARI AND MRS. T. KRISHNAVALLI, JJ. W.A. (MD) NO. 1051 OF 2011 MARCH 27, 2019 Mrs. S. Srimathy, Ld. Standing Counsel for the Appellant. Venkatesh and A. Shivaji for the Respondent. JUDGMENT Dr. Vineet Kothari, J. – The Revenue Department has filed this Intra Court Appeal against… Read More »
On or after 1-4-2008, the following persons shall ‘pay tax electronically’— (a) a company; and (b) a person (other than a company), to whom provisions of section 44AB are applicable. ‘Pay tax electronically’ shall mean, payment of tax by way of— (i) internet banking facility of the authorised bank; or (ii) debit cards; The word… Read More »
The Commissioner of Income tax (Exemptions) himself shall process the applications for registration under section 12A of Income Tax Act Sub-section (1) of section 12AA of the Income-tax Act, 1961 record the following given procedure for grant of registration as under: “12AA. (1) The Principal Commissioner or Commissioner, on receipt of an application for registration of a… Read More »
Reporting requirements under clause 30C (pertaining to General Anti-Avoidance Rules (GAAR)) and clause 44 (pertaining to Goods and Services Tax (GST) compliance) of the Form No. 3CD is been kept in abeyance till 31st March, 2020. Circular No. 9/2019 F. No. 370142/9/2018-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesTPL Division **** New… Read More »