Direct Tax: Delhi ITAT dismisses Revenue’s appeal and deletes addition u/s 68 on assessee-company during AY 2006-07, holds that the entire assessment proceedings are vitiated because of non-service of notice… Read More
FOREIGN INWARD REMITTANCE CERTIFICATE BRIEF INTRODUCTION As a merchant or service exporter who receives international payments from customers, a FIRC is a vital document to possess. This guide is meant to assist global eCommerce sellers comprehend… Read More
File Income tax returns need for bitcoin profits earn: Profited from Bitcoins or other Cryptocurrencies and not sure how to file your income tax returns? Did you know gains from… Read More
Direct Tax: SC rules against the Revenue in a batch of over 50 appeals, holds that receipts by premises cooperative societies (assessees) from its members, on account of non-occupancy charges, transfer… Read More
Direct tax The Finance Bill, 2018 as passed by Lok Sabha has inserted a new proviso in section 145A to provide that the securities held by a scheduled bank or… Read More
Direct tax Kolkata ITAT deletes penalty levied u/s 271E (for violating conditions u/s 269T by repaying loan other than through banking channels) for conversion of loan into equity by assessee-company… Read More
All about the Advance Tax under Income Tax law The month of March has its own significance in many ways. Be it in terms of being considered the last month… Read More
Direct Tax: Bombay HC sets aside CCIT’s order rejecting assessee-society’s (running a hospital providing medical facilities at subsidized rates) application for grant/continuation of exemption u/s 10(23C)(vic) for AY 2009-10; [TS-641-HC-2017(BOM)] CESTAT… Read More
RESIDENTIAL STATUS UNDER INCOME TAX ACT Tax incidence on an assessee depends on his residential status. For instance, whether an income, accrued to an individual outside India, is taxable in… Read More
Direct Tax: ITAT Delhi held that Section 54/54F flat booked with builder can be considered as construction of flat. ACIT Vs. Sh. Vineet Kumar Kapila (ITAT Delhi) Kolkata ITAT deletes… Read More