In practice, nature of receipt shall be determined by extensive scrutiny of pleadings in suit and / or recitals contained in the settlement agreement and careful drafting will be quintessential.
Clause 44: Clarifications as per new guidance note for Assessment Year 2022-2023
After the 31st July rush of filing the IT returns, the department of Income Tax has provided 120 days from filing of the return to e verify the return. The Central Board of Direct Taxes (CBDT) in the recent notification has cut down the time limit from 120 days to 30 days for ITRs filed on or after August 1st 2022.
The ICAI has issued revised Guidance Note dated 14th Aug. 2022 on 19th Aug 2022 and with respect to the Clause Number 44.
A question may arise whether the above information is to be given in respect of each and every head of expenditure or only the total expenditure is to be given.
Fixed deposits basically mean putting a certain amount of money for a fixed period. You can earn interest on the principal sum throughout the tenure on a cumulative basis. The interest earned gets added to the principal amount after every specific interval.
We have always discussed in length about the capital gains and its taxability. But, how many of us have noticed that Computation of capital gain and its taxability is different for listed shares and unlisted shares?
Mutual funds give access to portfolios of shares, bonds, and other securities to small and individual investors which are managed by professionals.
16 August 2022 at 15:00
On 10th August 2022 Notification No. 94/2022 was issued notifying the New Rule 17AA for books of accounts and other documents to be kept and maintained by Trusts and other various Institutions.
The process of examining the return of income by the Income Tax department is called "Assessment".
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
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