Income Tax

News, Blog, Income Tax

August 21, 2021

Exp. on partner’s foreign education allowable as firm secured several contracts due to expertise acquired by partner

Case details: Aswathanarayana & Eswara … Continue reading “Exp. on partner’s foreign education allowable as firm secured several contracts due to expertise acquired by partner”

Blog, News, Income Tax

August 20, 2021

CBDT notifies Rules prescribing ‘any other person’ to verify ITR & appear before authorities for Co./LLP

Notification No. G.S.R. 578(E), dated … Continue reading “CBDT notifies Rules prescribing ‘any other person’ to verify ITR & appear before authorities for Co./LLP”

Blog, News, Income Tax

August 20, 2021

‘SGPC’ eligible for Sec. 80G benefit as its charitable activities are open for all religions: ITAT

Case details: Shirmoni Gurdwara Parbandhak … Continue reading “‘SGPC’ eligible for Sec. 80G benefit as its charitable activities are open for all religions: ITAT”

Blog, News, Income Tax

August 18, 2021

Tax is to be deducted at source from salary paid to teachers, who are nuns or priests of religious congregation: HC

Case details: Provincial Superior v. … Continue reading “Tax is to be deducted at source from salary paid to teachers, who are nuns or priests of religious congregation: HC”

News, Blog, Income Tax

August 18, 2021

Gratuity Amendment Act has no retro-effect; no exemption u/s 10 if enhanced gratuity received before 24-5-10

Case details: Krishna Gopal Tiwary … Continue reading “Gratuity Amendment Act has no retro-effect; no exemption u/s 10 if enhanced gratuity received before 24-5-10”

Blog, News, Income Tax

August 17, 2021

Taxability of rewards to Olympic heroes

Srinivasan Anand G. – [2021] … Continue reading “Taxability of rewards to Olympic heroes”

Blog, News, Income Tax

August 17, 2021

No denial of exemption just because trust failed to produce necessary records as same got destroyed during floods: HC

Case details: Morbi Plot Jain … Continue reading “No denial of exemption just because trust failed to produce necessary records as same got destroyed during floods: HC”

Blog, News, Income Tax

August 16, 2021

NFAC issues SOPs for Penalties under Faceless Penalty Scheme, 2021

Circular No. 1/2021-22/439, dated 09-08-2021 … Continue reading “NFAC issues SOPs for Penalties under Faceless Penalty Scheme, 2021”

Blog, News, Income Tax

August 16, 2021

ITAT allowed deduction of premium paid towards employee gratuity fund if such fund was duly approved in later year

Case details: ACIT v. Gujarat … Continue reading “ITAT allowed deduction of premium paid towards employee gratuity fund if such fund was duly approved in later year”

Blog, News, Income Tax

August 13, 2021

Payment for surrogacy charges which to be paid to surrogate mothers is not liable to TDS u/s 194J: ITAT

Case details: Kiran Infertility Central … Continue reading “Payment for surrogacy charges which to be paid to surrogate mothers is not liable to TDS u/s 194J: ITAT”