Unpopular Deductions Under Income Tax
– Repayment of the principal amount of a home loan: An individual is entitled to…
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Blogs
10 Pointers to Understand Capital Gain Tax on Reconstitution of Partnership Firm
1. Transfer of capital asset or stock on dissolution/reconstitution will be consider as transfer for…
Functioning of Local Committees to Deal with Taxpayers Grievances from High-Pitched Scrutiny Assessment
Recently, in the INSTRUCTION F. NO. 225/101/2021-ITA-II, DATED 23-4-2022, The CBDT provided for constitution of ‘Local Committees…
Beware from Taxman while taking an unsecured loan
Article titled “Beware from Taxman while taking an unsecured loan.” got selected for Publication on Taxguru The article…
No Penalty for non-disclosure of foreign Asset in Indian Return
No penalty u/s 43 of BM Act can be imposed for non-disclosure of foreign…
Highlights of Revisionary Powers of Commissioner u/s 263
CIT can exercise his/her revisionary powers u/s 263 only if 1. The order of the…
Important Tax cases related to Real Estate Industry
1. Sec 54/54F benefit is available in case the new asset is used for business/profession –…
No Gift Tax on Security Premium in Case of Right Issue
1. The tax office says the issue of shares to existing shareholder @ face value…
New Propose SEZ Law can be a booster for Exporters
The present SEZ law extends tax benefits based on performance to the exporters. SEZs are…
Budget Mania 2022 : Highlights of Important Amendments of Reopening Cases
1. Budget 2021 demands officer to enquire/give opportunity/get approval before issue of notice 2. Since…
Budget Mania 2022 : TDS On Perquisite Or Benefit To Resident In Business Or Profession
1. Any benefit or perquisite provided to a resident 2. Arising from carrying out of…
9 Pointers to Know About New Reassessment Regime Under Income Tax
1. Under the new regime reopening is based on Information flagged by risk management strategy…