New window opened January 1 to file/update return for AY 2023-24 with additional 25% taxes
For those who missed out December 31 deadline to file/ revise file taxes for AY 2023-24 here is another opportunity…
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Today's
54F exemption is protected even in multiple ownership of residential properties ......Read More
Yesterday's Club expenditure ......Read More
Yesterday's Club expenditure ......Read More
Taxes are as certain as death
There is no provision in the law for stop filing of return ! The clock stops only with the death…
......Read More31 DECEMBER 2023
Is also a last opportunity to taxpayers to revise their income tax returns for AY 2023-24 if and only if…
......Read MoreJudicial decision acts retrospectively
The rectification case report at (2023] 459 ITR 36 (Cal) showcase an interesting situation wherein the non resident assessee mistakenly…
......Read MoreSocial media posts
Some social media posts these days mention that starting AY 2023-24 , the income tax department will conduct the strictest…
......Read MoreDuties of the officers of the department
An omission to make a claim for deduction can be made good by way of revised return else this could…
......Read MoreTax audit celings in mixed bag of receipts from business and profession
The Court in [2022] 20 ITR-OL 488 (Bom) held that the celing of 1 cr and 50 lacs for business and…
......Read MoreCardinals of tax filing
Those who invests in assets such as immovable property, shares, loans, deposits in bank in the name of children and…
......Read MoreOpportune time to take advantage of new window to update taxes
With the beginning of new financial year starting April 1, 2022 a new return window is now made open to…
......Read MoreTax authorities are expected to be open minded in their approach in condoning delays – Delhi Tribunal Decision score over High Court view
The tax report at [2021] 433 ITR 177 (Kar) involved bunch of cases of cooperative societies who defaulted in filing…
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