Guidelines has been issued on 14.6.2019for compounding of Offices under Direct Tax Laws,2019
451654584Guidelines for compounding of Offices under Direct Tax Laws,2019_compressed
Monthly Archive: November 2019
these-individuals-huf-mandatorily-needs-to-file-itr-for-ay-2019-20
These individuals /HUF mandatorily needs to file ITR for AY 2019-20 When total income without deductions exceeds Rs. 2.5 lakh below the age of 60 years, 3 lakh for senior citizens (between 60 and 80 years) and 5 lakh for…
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No TDS is required to be deducted u/s 194H on credit card charges paid by assessee to Banks on payments received from customers on purchases made through credit Section 14A Assessee had utilised interest bearing funds to make said investments—In absence thereof, presumption would apply that assessee invested its own interest free funds to make investments in securities capable of yielding an exempt income—Revenue was not able to rebut said presumption—Revenue’s ground dismissed
On Jul 4, 2019 BOMBAY TRIBUNAL held that No TDS is required to be deducted u/s 194H on credit card charges paid by assessee to Banks on payments received from customers on purchases made through credit Section 14A Assessee had…
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There is no case for disallowance of expenditure u/s 14A relatable to exempt income when there is no exempt income
ITAT, VISAKHAPATNAM BENCH held on 3rd April, 2019 that there is no case for disallowance of expenditure u/s 14A relatable to exempt income when there is no exempt income. Followed: ACN Infotech (India) (P) Ltd. v. Asstt. CIT [ITA No….
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In K.C. Builders (Supra), the Supreme Court held in para¬26 that once the finding of concealment and subsequent levy of penalties under Section 271 (1)(c) of the Act has been struck down by the Tribunal, there is no concealment, u/s 276¬C and 277 read with Section 278 of the Income Tax Act, 1961. Chattisgarh High Court again confirmed in M/S System India Castings vs The Principal Commissioner Of …. on 26 June, 2019
In K.C. Builders (Supra), the Supreme Court held in para26 that once the finding of concealment and subsequent levy of penalties under Section 271 (1)(c) of the Act has been struck down by the Tribunal, there is no concealment, u/s 276C and…
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Tax saving tips for salaried employees for financial year 2018-19
Tax saving tips for salaried employees for financial year 2018-19 HRA section 10(13A) is available if you are paying house rent. Detail is given in separate article. Standard deduction of rupees 40000 Deduction under section 80C for LIC, housing loan…
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To file ITR for having Salary Income we need following papers/ documents
To file ITR for having Salary Income we need following papers
INC-22A can now be filed with a fee of INR 10000
The Tagging of non-compliant Companies/Directors for not filing eForm Active(INC-22A) is complete. The form (ACTIVE) has since been made available for filing purposes. The form can be filed with a fee of INR 10000. Stakeholders may kindly download the latest…
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Form FiLLiP is likely to be revised on MCA21 LLP Forms Download page w.e.f. 29th June, 2019. Stakeholders are advised to check the latest version before filing.
Form FiLLiP is likely to be revised on MCA21 LLP Forms Download page w.e.f. 29th June, 2019. Stakeholders are advised to check the latest version before filing.
Registered U/s 12AA gives advance to trust not registered u/s 12AA where trustee are entitled for 20% of profits of the said concern.- exemption u/s 11 will be denied.
Advance by a society registered U/s 12AA to trust not registered u/s 12AA and the the trustee are entitled for 20% of profits of the said concern.-Then as per Explanation 3 to section 13 of the Act, it is called…
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