Sourav

Flipkart India Private Limited vs. ACIT : The department cannot demand payment of tax dues but have to grant complete stay if the assessment is “unreasonably high pitched” 4 min read

• Income Tax

Flipkart India Private Limited vs. ACIT : The department cannot demand payment of tax dues but have to grant complete stay if the assessment is “unreasonably high pitched”

Sourav 9 years ago

Flipkart India Private Limited vs. ACIT (Karnataka High Court) The applicant raised the contentions in support of the petition for stay of demand: The Issue:... Read More

Procedure for electronic filing of appeal before the CIT(Appeals) 5 min read

• Income Tax

Procedure for electronic filing of appeal before the CIT(Appeals)

Sourav 9 years ago

The Central Board of Direct Taxes has made an announcement vide press release dated 30.12.2015 with respect to the Procedure for electronic filing of appeal... Read More

Exemption under Section 54F allowed for multiple flats if located at same address 4 min read

• Income Tax

Exemption under Section 54F allowed for multiple flats if located at same address

Sourav 9 years ago

Assessee allowed to claim exemption u/s 54F for multiple flats if located at same address In the Case of CIT Vs Shri Gumanmal Jain (Madras High Court),... Read More

Assessee not indebted for providing the facility for conducting the survey if not asked for 3 min read

• Income Tax

Assessee not indebted for providing the facility for conducting the survey if not asked for

Sourav 9 years ago

Income Tax Appellate Tribunal Amritsar Bench in a thought-provoking decision of Smt. Kailash Devi ITA 347/ASR/ 2015 manifested on 05-04-2016 on conducting the survey and... Read More

CBDT circular on Taxability of compensation received on compulsory acquisition of Agricultural land 4 min read

• Income Tax

CBDT circular on Taxability of compensation received on compulsory acquisition of Agricultural land

Sourav 9 years ago

With the help of Circular No. 36/2016, The Ministry of Finance has cleared all the doubts and clarified that receipt of compensation in case of compulsory acquisition... Read More

Violators to face strict action for Benami transactions warns IT Department 2 min read

• Income Tax

Violators to face strict action for Benami transactions warns IT Department

Sourav 9 years ago

The Income Tax department has given a signal for strong action against those who undertake Benami transactions. Those who undertake Benami Transactions would be chargeable... Read More

Taxability of House Rent Allowance and deductions available under 88 GG for rent paid 2 min read

• Income Tax

Taxability of House Rent Allowance and deductions available under 88 GG for rent paid

Sourav 9 years ago

House Rent Allowance (HRA) is a general component of salary structure and allowed as allowance. Though House Rent Allowance is a part of the salary,... Read More

Overview of the Various Restrictions and Analysis of Section 269ST of Income Tax Act 4 min read

• Income Tax

Overview of the Various Restrictions and Analysis of Section 269ST of Income Tax Act

Sourav 9 years ago 12

The Finance Bill, 2017 has something new to propose and to insert a new section 269ST in the Indian IT Act, 1961 w.e.f 1st April... Read More

Amendments to Provisions of Tax Audit and provisions with respect to maintenance books of account 4 min read

• Income Tax

Amendments to Provisions of Tax Audit and provisions with respect to maintenance books of account

Sourav 9 years ago

A person is liable to get his books and accounts audited U/s 44AB (Tax Audit) by a practicing Chartered Accountant, if in the previous financial... Read More

Recent Amendments for Taxation of Charitable Trust introduced in the Union Budget 2017 2 min read

• Income Tax

Recent Amendments for Taxation of Charitable Trust introduced in the Union Budget 2017

Sourav 9 years ago

There were many amendments in Budget 2017 were made and proposed by Finance Minister regarding Taxation of Charitable Trust. First Amendment governing taxation of Charitable... Read More