SECTION 68 ADDITION FOR SHARE CAPITAL & PREMIUM WITHOUT ANY VERIFICATION NOT SUSTAINABLE

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Seth Carbon and Alloys Private Limited Vs DCIT (ITAT Mumbai) We find that assessee by furnishing all the aforesaid...

G-20 FINANCE MINISTERS BACK REFORMS TO STOP USE OF TAX HAVENS

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Top finance officials representing most of the world's economy have backed a sweeping revision of international taxation that includes a 15% global...

SHORT-TERM CAPITAL GAINS: NEW GOODWILL RULE SEEN IMPOSING TAX LIABILITIES ON FIRMS

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The Central Board of Direct Taxes (CBDT) has notified the new rules regarding computation of short-term capital gains (STCG) and written down...

‘DEEMED DIVIDEND’ PROVISIONS NOT APPLICABLE IF ADVANCES WERE GIVEN TO SHAREHOLDER FOR BUSINESS PURPOSE

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ACIT Vs Krishna Coil Cutters Pvt. Ltd. (ITAT Ahmedabad) On facts, it has emerged that the lender company has...

CBDT Extension of due dates under Income Tax Act

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1) TDS Q4 Filing Date – Extended to 15th July, 2021 2) Form 16 date – Extended to 31st...

Income Tax Department | Reporting Portal | Project Insight report.insight.gov.in

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🌴 Steps to check the ITR filing status for the purpose of Section 206AB and 206CCA 🍉 Step: 1...

🍉 Provision of section 206AB of the Income Tax Act from 01.07.2021

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🍇 TDS for Non-filers of Income Tax Return The Finance Act 2021 has introduced a new section called Section...

Latest updates on new Income Tax Portal.

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🥊 The Income Tax Department is going to launch its new e-filing portal www.incometax.gov.in on 7th June, 2021. 🏄🏻‍♀️...

DIRECT TAX ALERT – THRESHOLDS FOR SIGNIFICANT ECONOMIC PRESENCE IN INDIA NOTIFIED

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In order to address the problem of Base Erosion and Profit Shifting (BEPS), the Organisation for Economic Co-operation and Development (OECD) framed...

CBDT notifies New Income Tax Return Forms for AY 2021-22

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The Central Board of Direct Taxes has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2021-22 vide Notification no.21/2021...