This judgment, with far-reaching implications for taxpayers and tax authorities, warrants a closer look through the lens of its implecations and detailed analysis.
Taxpayers are now witnessing a new era where economic offenses are no more taken with an attitude of "Letting things be". Tax Professionals should also change accordingly and ensure that tax compliances are in order.
As we know that every assessee or taxpayer has to file their Income Tax Return within time prescribed i.e. 31st July/31st October under section 139(1)/139(4) of Income Tax Act, 1961.
This article delves into a specific case where the assessee's claim for exemption under Section 54F was denied due to the predominant use of the building for religious purposes, namely a mosque, orphanage school, and staff quarters.
On 15.07.2014, Karnataka High Court in ITA 165/2012 directed the revenue authorities to recover TDS amounting to Rs.302 crores from the Kingfisher airlines. On 18.11.2016, the Kingfisher Airlines Limited was ordered to be wound up by the Karnataka High Court.
As per the Amendment made by the Finance Act, 2023 clause (h) shall be inserted after clause (g) of section 43B which says that if assessee makes payment to micro or small enterprises beyond the limit specified in section 15 of the MSME Act, 2006
This article delves into the specific case of leave encashment for former Madhya Pradesh State Electricity Board (MPSEB) employees after its conversion into a company, analyzing the various aspects and legal arguments involved.
Let's delve into the legal principles at play, understand the reasoning behind the conflicting viewpoints, and chart a course towards a clear understanding of this complex tax issue.
Form 71 u/s 155(20) of IT Act, 1961 TDS refund in case not appearing in Form 26AS in the year of Income booking
This guide explores the Tax Management strategies - Complete Tax Avoidance, Reducing Tax Liability, and Postponing Taxation To provide you with strategies that can significantly enhance your investment portfolio's profitability.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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