Income Tax on business Income : Free Study Material
Here is the free study material on Income Tax on business Income
Income Tax on Future & Options trading and ITR filing I F & O Trading Income I CA Satbir Singh
List of Income Tax benefits available to Small Businessmen AY 2019-20
Interest on FDR can not be capitalised if capital asset is not setup : Bombay HC
Expenses for property taxable as house property income couldn’t be allowed as business exp. : ITAT
No Income Tax scrutiny for First Time Non-Business Tax Payers < 5 Lakh Income
Rental income Taxable under Business head if objective was to carry on business
Judgments
Maintenance charges received from tenants for property taxable as business income : ITAT
Credit Card expenses of Director can not be claimed as deduction for expenses by Company : HC
Income from sale of agricultural land is business income is sold by Real Estate Developer : HC
Exp for Director remuneration allowed if it was allowed in earlier years : HC
Forfeited advance of Real Estate Co. is allowable business Exp : HC
Web advertisement expenses disallowed as paid to Non Existent Companies : HC
Legal Expenses to defend the Director Not allowed : HC
No disallowance u/s 14A because Dividend Income (Exempt) not earned
Expenses Deductions allowed if Business is set up : ITAT
No Addition if confirmation of outstanding Balance not taken from Creditors : ITAT
Software licence fees is allowed as Revenue Expenditure : ITAT
Expenses on Repair & renovation of hotel allowed as Revenue Expenditure : HC
8% Income can not be estimated u/s 44AD for Partners Remuneration from Firm: ITAT
No Disallowance U/S 40A(3) if cash payment made on Seller’s Insistence : ITAT
Rental income from guest houses taxable under Business head
Income of HUF Business can not taxed in the Individual capacity
Launch of Income Tax Business Application (ITBA) – ITR Processing Module – Phase 1
Income Tax Dept to verify cash deposits by Govt. employees &; businessmen during Demonetization
AO couldn’t change method of accounting which was adopted consistently : ITAT