Feature Post
What is the procedure adopted for making the assessment under sec 143(3) of Income Tax Act i.e. scrutiny assessment? In case of Assessment under section 143(3) of Income tax act, a scrutiny is carried out to confirm the correctness and genuineness of various claims, deductions, etc., made by the taxpayer in the return of income. […]
Doctrine of Res Gestae || When such statement cannot be considered to be part of Same Transactions Res Gestae is taken from Latin word which means “things done”. The term Res gestae literally means Related facts such facts which form part of a transaction are called Res gestae. The main object of section 6 of […]
Which Income Tax appeals (Income tax appeal pending) are covered under the Vivad se Vishwas Scheme? Vivad se Vishwas Scheme Detail Pdf Income Tax Appeals pending before the appellate forum [Commissioner (Appeals), Income-tax Appellate Tribunal (ITAT), High Court or Supreme Court], and writ petitions pending before any High Court or Supreme Court or special leave […]
Income Tax Return (Financial Year 2019-20, Tax Audit Financial Year 2019-20, Vivaad se Vishwas Scheme Extended, Date of assessments getting barred as on Sep 30, 2020, Date of assessments getting barred as on March 31) The government, announced the extension of the Income Tax Return filing deadlines (Financial Year 2019-20, Tax audit Financial Year 2019-20, […]
Am I required to keep a copy of the Income Tax Return filed as proof and for how long ? Yes, since legal proceedings under the Income-tax Act can be initiated up to 4 or 6 years (as the case may be) prior to the current financial year, you must maintain such documents at least […]
Gift received by an individual from Hindu undivided family (HUF) isn’t exempt Gyanchand M. Bardia v. The Income Tax Officer (Income Tax Appellate Tribunal )– Ahmedabad 21 February, 2018 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH AHMEDABAD BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA […]
Can a judge/ Judicial Officer be arrested and What is the procedure? Yes. Because they are also the normal citizens of India and Law is above all and everyone is bound to law. Procedure of arrest and direction for the arrest of Judicial Officers The Supreme Court had provided certain guidelines to arrest Judicial Officers, For […]
Insertion of new section 80M (Budget 2020) After section 80LA of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2021, namely:–– ‘Section 80M of Income tax Act.:- Sub Section (1) Where the gross total income of a domestic company in any previous year includes any income […]
Difference between A law and The law Difference between A law and The law:- A law and the law word are quite commonly used interchangeably. that are often confused us to mean, it is generally believed that both the terms refer to same mean, Actually, A law and The law differ in more than one […]
Difference between Income and Revenue Difference between Income and Revenue:- Revenue and income word are quite commonly used interchangeably, that are often confused us to mean, it is generally believed that both the terms refer to same mean, Actually, Income and Revenue differ in more than one aspect, the concept of revenue and income is […]
