Controversies in taxation of partnership firms and partners are quite common as…
Removal of defect u/s 139(9) in return dates back to original return
The Income Tax Act, 1961 provides a comprehensive mechanism for dealing with…
Refunds amounting to Rs. 26,242 crore issued since 1st April, 2020
Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs.…
Agricultural Income under Income Tax Act, 1961
Income Tax have various contentious issues despite being one of the oldest…
Replacement of damaged parts of plant and machinery was revenue exp. if no new asset came into existence
Expenditure incurred on replacement of damaged parts of plant and machinery would…
No waiver of Sec. 234B/234C interest if advance tax wasn’t paid on undisclosed income admitted during survey
Where pursuant to survey conducted upon assessee, it admitted an undisclosed…
Updated Statutory & Regulatory Relief to businesses | COVID-19 Lockdown
Entire world is fighting against epidemic COVID-19 outbreak and Hon’ble Prime Minister…
Five announcements on EPF and income tax made by FM Nirmala Sitharaman
Keeping in view PM Modi’s vision of a “self-reliant India”, FM Nirmala…
Five income tax relaxations that you need to know
In order to enhance liquidity in the hands of taxpayers, FM announced…
CBDT notifies reduced TDS/TCS rates applicable from May 14, 2020
REDUCTION IN RATE OF TAX DEDUCTION AT SOURCE (TDS) & TAX COLLECTION…