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Main High Value Transactions monitors by Tax Dept. We should require to be cautious because, in last few years, Income tax Authorities have brought into the radar and have been monitoring a large number of high-value and cash transactions. The Income Tax Department continually monitors high-value transactions that exceed a certain threshold. Failure to include …
Online utility of Traces(TDS), income tax, GST, ESI, PF What is Gst Login portal page? Gst Login Page: http://www.gst.gov.in is the official Goods and Services tax website, widely known as the GSTN portal/ GST Portal, which facilitates many kinds of services for GST taxpayers, that is start from taking GST Registration, traversing via GST Return filing, …
Capital Gains arise from sale of TDR or FSI in Redevelopment is taxable after April 2023 Earlier Income tax Situations Redevelopment of residential housing societies is normally carried out generally via few Developers. Earlier Income tax Stand: No capital gains tax on sale of Transferable Development Rights (TDR) in absence of cost of acquisition In …
Taxpayers Relief to Claim Tax Deductions U/s 115BAC to boost Alternative Tax Regime Union Budget for 2023 is coming and Individuals are concerned about the relief that will be provided Budget for 2023. Last budgets provided a range of benefits, including exemptions and deductions, which were frequently subject to several restrictions, People are interested in …
If you do not file your ITR by March 31, you will face a higher TDS. Prepare to pay a higher TDS at Source starting next month if you have not linked your Permanent Account Number or permanent account number with your Aadhaar card. The timeframe to link your Aadhaar number with your permanent account …
FAQs ON DEDUCTIONS UNDER SECTION 80C, 80CCC, 80CCD & 80D Are taxpayers allowed to say 80C deductions while filing taxation return? Claim for 80C deduction is allowed while filing income return before the top of that Assessment Year. Which year will the investments reflect within the tax return? Assume a taxpayer made investments in accordance with Section 80C guidelines on 30th April 2019. Then, …
Govt extends the deadline for tax compliance to file a return and other records by 30 June Extension of different deadlines under the Direct Tax & Benami laws: Notification No 35/2020 has been released by CBDT [S.O. 2033(E)] of 24 June 2020 on Taxation & Other Laws, extending further the time-limits for numerous compliance measures. …
TODAY UPDATES: DIRECT TAX: CBDT has issued a clarification regarding u/s 119 of the Income Tax Act, 1961 dated 9th September 2016 vide F. No. 225/195/2016-ITA II dated 14th September 2016. CBDT clarified that the extended due date of filing return would also apply for the tax audit report. ITAT Indore in the below citied …
CORPORATE AND PROFESSIONAL UPDATE JANUARY 25, 2016 ST: VALUATION OF FLATS GIVEN BY BUILDER TO LANDOWNER AND POT THEREOF CBEC Circular No. 151/2/2012-ST dated 10.2.2012 on following issues: Valuation of construction service; and Point of taxation thereof. According to the CBEC Education Guide on Taxation of Services, 2012: Value of construction service provided to such …
CORPORATE AND PROFESSIONAL UPDATE JANUARY 14, 2016 INCOME TAX ACT SECTION 37(1) BUSINESS EXPENDITURE Allowability OF Interest : SLP granted against High Court’s ruling that interest which was paid after slump sale was effected and where factory was in operation could not be capitalized and therefore, such expenses were revenue in nature – [2016] 65 67 (SC) Share …