MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24th September, 2021 INCOME-TAX G.S.R. 661(E).—In exercise of the powers conferred by sub-section (2) of section 92CB read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules… Read More »
New Rules for Current Bank Account opening I CA Satbir Singh
Guidelines for Implementation of the circular on Opening of Current Accounts by Banks RBI/2021-22/77 DOR.CRE.REC.35/21.04.048/2021-22 August 04, 2021 To, All Scheduled Commercial Banks All Payments Banks Madam / Dear Sir, Guidelines for Implementation of the circular on Opening of Current Accounts by Banks Please refer to circulars DOR.No.BP.BC/7/21.04.048/2020-21 dated August 6, 2020, DOR.No.BP.BC.27/21.04.048/2020-21 dated November 2, 2020 and DOR.No.BP.BC.30/21.04.048/2020-21… Read More »
Income Tax Department conducts searches in Tamil Nadu Posted On: 25 SEP 2021 The Income Tax Department carried out search and seizure operations on 23.09.2021 on two private Syndicate Financing groups based in Chennai. The search operation was carried out at 35 premises located in Chennai. The evidence found in the premises of the financiers… Read More »
Income Tax Department conducts searches in Gujarat Posted On: 25 SEP 2021 10:35AM by PIB Delhi The Income Tax Department carried out search and seizure operations on 22.09.2021 on premises of a leading Diamond manufacturer and exporter from Gujarat, based on intelligence input about tax evasion. Apart from the diamond business, the group was also… Read More »
CBDT Order on Verification of Income Tax Returns F. No. 225/108/2021/TA-II Govornment of Indla Ministry of Finance Dopartmont of Revonuo Central Board of Diroct Taxos AAAA New Delhi, Dated 24h September, 2021 Order u/s 119 (2Ma) of the Income-tax Act 1961 Subject: Regularisation of returns of income verified through Electronic Verification Code (EVC) which aro… Read More »
IN THE ITAT BANGALORE BENCH ‘A’ Navodaya Education Trust v. Deputy Commissioner of Income-tax, Central Circle, Bellary CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER IT APPEAL NO. 49 (BANG.) OF 2021 [ASSESSMENT YEAR 2015-16] JULY 15, 2021 Rahul Kaul, Adv. for the Appellant. K. Devarathna Kumar, CIT (DR) (ITAT) for the Respondent. ORDER Chandra Poojari, Accountant… Read More »
Refunds aggregating to Rs. 75,111 crore have been issued in the current fiscal Posted On: 24 SEP 2021 The figures of Direct Tax collections for the Financial Year 2021-22, as on 22.09.2021 show that net collections are at Rs. 5,70,568 crore, compared to Rs. 3,27,174 crore in the corresponding period of the preceding Financial Year i.e FY 2020-21, representing an increase… Read More »
How to Reply Defective Return Notice u/s 139(9) of Income Tax I CA Satbir Singh
SUPREME COURT OF INDIA Ashwini Sahakari Rugnalaya v. Chief Commissioner of Income-tax SANJAY KISHAN KAUL AND M. M. SUNDRESH, JJ. CIVIL APPEAL NO.3453 OF 2007 SEPTEMBER 15, 2021 S.K. Bagaria, Tarun Gulati, Sr. Advs. P.S. Sudheer, AOR Kumar Ajit Singh and Ms. Shruti Jose, Advs. for the Appellant. Arijit Prasad, Sr. Adv. Raj Bahadur Yadav, AOR Rupesh Kumar, Ms. Purnima Bhat, Sughosh Subramanyam and Ms. Alka Agarwal, Advs. for the Respondent.… Read More »