Updated return algorithm
Updated return algorithm The Memorandum fact and object The memorandum to the Finance Bill 2022 in mooting…
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Today's
Audit objection driving revision ......Read More
Yesterday's Interest on short term deposits to open LC to procure machinery ......Read More
Yesterday's Interest on short term deposits to open LC to procure machinery ......Read More
Long story of short TDS and its implications
Long story of short tds and its implications The Missing The Hyderabad bench of Income Tax Appellate…
......Read MoreCase of Economic Hardship and Waiver of Interest
Income tax law by design has provisions with enabling powers to authorized officers for waiver of interest to provide respite…
......Read MoreA Classic example of Perversity
Dictionary meaning An order that suffers from perversity is bound to fail in the ultimate test before Supreme Court.…
......Read MoreAssessment proceedings – Revised computation without revised ITR- Pragmatic View versus Technical Considerations
In a situation where a deduction is not claimed in the return but claimed by filing a revised computation…
......Read MoreWithdrawal of claim by letter- Not a case of revised return- Amitabh Bachchan Case fallout
It is an acceptable law that a letter or application to the Assessing Officer requesting for either adding some…
......Read MoreHard hitting advisory on TDS non-compliance- Reliance case judgment- Penalty and prosecution absolute
Case of default in deposit of TDS In a hard hitting judgment of the Bombay High Court in Reliance…
......Read MoreWhether repayments of housing loan qualify for deduction u/s 80C prior to obtaining possession?
Among several avenues of investments that qualify for deduction u/s 80C clause (xviii) of sub-section (2) of section 80C provide…
......Read MoreS.54EC amendment- Removal of Ambiguity- Bad News or Good News
Of all those who are going to make a claim for exemption u/s 54EC of Rs. 1 crore in…
......Read MoreSEZ Income Deduction u/s 10AA- Not So Controversial
The manner of computation of allowance of deductions u/s 10A, 10AA, 10B and 10BA under Chapter III of…
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