Assessee cannot be held responsible for tax Payment that has been deducted by the deductor at the source... Read More
Income Tax
Taxpayers sometimes end up in trouble by submitting fake bills to lower the tax liability. However, the reality is different as the Income-tax department have... Read More
The budget 2020 has introduced new tax slabs with an option to choose the old tax slabs. It’s important to know which income tax slabs... Read More
The Hon’ble Finance Minister submitted Budget 2020 on 1 February 2020 that is built around three popular themes namely- “Aspirational India, Economic Development for All... Read More
The taxpayers usually file income tax returns (ITR) for the previous financial year immediately after the beginning of the next financial year in April. The... Read More
In finance, profit and loss always play a part in an individual’s life. Every time you won’t achieve the profits. Sometimes you may incur losses... Read More
Relaxation of Prosecution Norms by CBDT for Defaults in Filing IT Returns and Delays in TDS
2 min read
The legal outcome for any lag in depositing TDS, or non-filing of returns of income tax, or under-reporting of income, has been relaxed by the... Read More
In order to motivate the assessee to save their hard-earned money and invest it wisely, many deductions have been offered by the Government under income... Read More
the Assessment Officer had produced many discrepancies in the assessee's books of account inclusive of the purchases made from 22 parties, according to which, SOPs have been followed by the assessee pertaining to all the purchases, where every single identification has been done inclusive of the entry of goods, whereas, in terms of the purchases from the 22 parties, no identification has been done. The assessee and the directors have admitted this fact and its directors.... Read More
The parameters based on which the manual selection of returns for the complete scrutiny in the FY 2019-20 are as mentioned below: (i) Cases that... Read More
