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
Big Change for Income Tax Return Filing I Annual Information Statement I New 26AS I CA Satbir Singh Income Tax Department has rolled out the new Annual Information Statement (AIS) on the Compliance Portal which provides a comprehensive view of information to a taxpayer with a facility to capture online feedback. In this Video you… Read More »
GST Exemtption to Printing of Question paper for Education Board I CA Satbir Singh
Roll out of new Annual Information Statement (AIS) Posted On: 01 NOV 2021 Income Tax Department has rolled out the new Annual Information Statement (AIS) on the Compliance Portal which provides a comprehensive view of information to a taxpayer with a facility to capture online feedback. The new AIS can be accessed by clicking on… Read More »
Income Tax Department conducts searches in Bihar and Jharkhand Posted On: 01 NOV 2021 2:23PM by PIB Delhi The Income Tax Department carried out search and seizure operation on a prominent road construction contractor in Bihar and Jharkhand. The search action was initiated on 27.10.2021 at various premises located in Bihar, Jharkhand, Maharashtra, and West… Read More »
GST collection for October 2021 registered the second highest since implementation of GST ₹ 1,30,127 crore gross GST revenue collected in October Revenues for the month of October 2021 are 24% higher than the GST revenues in the same month last year and 36% over 2019-20 Posted On: 01 NOV 2021 1:04PM by PIB Delhi… Read More »
GSTR 3B Rectification Decision by Supreme Court I CA Satbir Singh Facts of the Case Forms GSTR-2 and 3 could not be operationalized by the Government, the Government introduced Rule 61(5) (which was amended vide Notification No. 17/2017-Central Tax, dated 27-7-2017) and the Rule 61(6) in the CGST Rules, and provided for filing of monthly return in… Read More »
Prosecution Valid if ITR not filed : High Court It is the case of the respondent that the petitioner herein who had taxable income for the Financial Year 2012 – 2013 / Assessment Year 2013 – 2014, had not filed the Annual Return as mandated under Section 139[1] of the Act, 1961, nor under the… Read More »
Income Tax Department conducts searches in Nashik Posted On: 25 OCT 2021 4:14PM by PIB Delhi The Income Tax Department carried out a search and seizure operation on 21.10.2021 in the case of a person engaged in the real estate business, primarily operating as a land aggregator in Nashik. During the search and seizure operation,… Read More »