Income Tax

Blog, Income Tax

August 5, 2022

Guide to applicability of Section 194R to discounts, rebates, gifts, incentives & cashbacks

FAQ 1. Whether sales discount, … Continue reading “Guide to applicability of Section 194R to discounts, rebates, gifts, incentives & cashbacks”

Blog, News, Income Tax

July 6, 2022

AO can’t make ad hoc disallowance merely stating that some of exp. were supported by self-made vouchers: ITAT

Case Details: Kailas Chand Agrawal … Continue reading “AO can’t make ad hoc disallowance merely stating that some of exp. were supported by self-made vouchers: ITAT”

Blog, News, Income Tax

July 6, 2022

Tax Dept. detects undisclosed income of more than Rs. 200 crore in search conducted on coal trader

Press Release, dated 04-07-2022 The … Continue reading “Tax Dept. detects undisclosed income of more than Rs. 200 crore in search conducted on coal trader”

Blog, News, Income Tax

July 5, 2022

Personal hearing is mandatory though not requested by assessee if books of account to be examined: HC

Case Details: Vamsha Retail Ventures … Continue reading “Personal hearing is mandatory though not requested by assessee if books of account to be examined: HC”

News, Blog, Income Tax

July 4, 2022

[Opinion] Section 194R: Rocky Road ahead

Ankita Chowdhry, Kashif Ali & … Continue reading “[Opinion] Section 194R: Rocky Road ahead”

Blog, News, Income Tax

July 4, 2022

Faceless Appeal Scheme, 2021 mandating grant of personal hearing is curative amendment

Case Details: Bank of India … Continue reading “Faceless Appeal Scheme, 2021 mandating grant of personal hearing is curative amendment”

Blog, News, Income Tax

July 2, 2022

NFT whose transfer results in a transfer of ownership of an underlying tangible asset isn’t VDA: CBDT

Notification No. 75/2022, dated 30-06-2022 … Continue reading “NFT whose transfer results in a transfer of ownership of an underlying tangible asset isn’t VDA: CBDT”

Blog, News, Income Tax

July 2, 2022

CBDT notifies Form 26QF for filing of statement of tax deposited u/s 194S by ‘Exchange’

Notification No. 73/2022, dated 30-06-2022 … Continue reading “CBDT notifies Form 26QF for filing of statement of tax deposited u/s 194S by ‘Exchange’”

Blog, News, Income Tax

July 2, 2022

Gift vouchers, rewards points and website subscription is excluded from definition of VDA: CBDT

Notification No. 74/2022, dated 30-06-2022 … Continue reading “Gift vouchers, rewards points and website subscription is excluded from definition of VDA: CBDT”

Blog, News, Income Tax

July 1, 2022

[Opinion] Supreme Court’s decision on Secondment and its impact under Other Laws

FCA Ashish Karundia – [2022] … Continue reading “[Opinion] Supreme Court’s decision on Secondment and its impact under Other Laws”