Income Tax

Blog, News, Income Tax

October 17, 2023

No Section 40A(2) Disallowance Without Examining Qualification, Experience, and Work Profile of Related Parties | HC

Case Details: Mehra Jewel Palace … Continue reading “No Section 40A(2) Disallowance Without Examining Qualification, Experience, and Work Profile of Related Parties | HC”

News, Blog, Income Tax

October 17, 2023

CBDT Issues Clarification Regarding Assessment of Startup Companies Subsequent to FA 2023 Amendments

F.NO. 173/149/2019-ITA-1, dated 10-10-2023 Section … Continue reading “CBDT Issues Clarification Regarding Assessment of Startup Companies Subsequent to FA 2023 Amendments”

Blog, Income Tax

October 19, 2023

Understanding Corpus in Charities – Investment, Restrictions, and Inter-Charity Donations Guide

Table of Contents Meaning of … Continue reading “Understanding Corpus in Charities – Investment, Restrictions, and Inter-Charity Donations Guide”

Blog, News, Income Tax

October 13, 2023

CIT(E) Can’t Reject Trust Application Merely Due to Inadvertent Error of Mismatch in Name as Appearing on PAN | ITAT

Case Details: Shri Balkrishna Shudhhadwait … Continue reading “CIT(E) Can’t Reject Trust Application Merely Due to Inadvertent Error of Mismatch in Name as Appearing on PAN | ITAT”

Blog, News, Income Tax

October 13, 2023

Tax Dept. Conducts Search and Seizure Operations in Jammu and Kashmir

Press Release dated 11-10-2023 The … Continue reading “Tax Dept. Conducts Search and Seizure Operations in Jammu and Kashmir”

News, Blog, Income Tax

October 12, 2023

Net Direct Tax Collections Exceed 9.57 Lakh Crore, Marking a 21.82% Increase Compared to the Previous Year | CBDT

Press Release dated 10-10-2023 The … Continue reading “Net Direct Tax Collections Exceed 9.57 Lakh Crore, Marking a 21.82% Increase Compared to the Previous Year | CBDT”

Blog, News, Income Tax

October 12, 2023

Form 60 Can’t be Submitted by a Co. or Firm that is Involved in a Transaction Specified Under Rule 114B | CBDT

Notification No. 88/2023, dated 10-10-2023 … Continue reading “Form 60 Can’t be Submitted by a Co. or Firm that is Involved in a Transaction Specified Under Rule 114B | CBDT”

Blog, News, Income Tax

October 11, 2023

ICAI Releases’ Technical Guide’ on Reports of Audit under Sec. 12A/10(23C)

ICAI publication, dated October 2023 … Continue reading “ICAI Releases’ Technical Guide’ on Reports of Audit under Sec. 12A/10(23C)”

Blog, News, Income Tax

October 10, 2023

Excess Stock Can’t be Treated as Undisclosed Income if Assessee Identified Diff. Much Prior to Commencement of Search

Case Details: PCIT vs. Industrial … Continue reading “Excess Stock Can’t be Treated as Undisclosed Income if Assessee Identified Diff. Much Prior to Commencement of Search”

News, Blog, Income Tax

October 10, 2023

CBDT Issues Clarification on Reporting of Substantial Contributors in Form 10B/10BB

Circular No. 17/2023, dated 09-10-2023 … Continue reading “CBDT Issues Clarification on Reporting of Substantial Contributors in Form 10B/10BB”