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Information From ITR/26AS Can't Be Sole Basis For Service Tax Demands: CESTAT
9 months, 2 weeks ago

Information From ITR/26AS Can't Be Sole Basis For Service Tax Demands: CESTAT

Live Law  

The Hyderabad Bench of Customs, Excise, and Service Tax Appellate Tribunal has held that the service tax demand was made on the basis of third-party data, i.e., amounts reflected in income tax returns and in Form 26AS, which is not sustainable. The bench of P. Anjani Kumar has observed that the exigibility of service tax depends on the service provider, …

Service Demand Itr Stat Basis Tax Returns Income Tax Returns
Refusal To Condone Delay In ITR filing , Consideration After 20 Years, Allahabad High Court Quashes Order
1 year, 3 months ago

Refusal To Condone Delay In ITR filing , Consideration After 20 Years, Allahabad High Court Quashes Order

Live Law  

The Allahabad High Court has quashed the order refusing to delay condonation in filing ITRs for lack of records after more than 20 years of filing the condonation applications.The bench of Justice Siddhartha Varma and Justice Manoj Bajaj has observed that when the delay condonation application was filed on March 30, 1998, the applications ought to have been decided within …

Applications Order Delay Department Filing 20 Years Itr
Technical Consideration Cannot Come In The Way Of Substantial Justice: Bombay High Condones ITR-filing Delay
2 years ago

Technical Consideration Cannot Come In The Way Of Substantial Justice: Bombay High Condones ITR-filing Delay

Live Law  

The Bombay High Court has condoned a year-long delay in filing the Income Tax Return over "genuine hardships. "The division bench of Justice Dhiraj Singh Thakur and Justice Abhay Ahuja has observed that technical considerations cannot come in the way of substantial justice. The Bombay High Court has condoned a year-long delay in filing the Income Tax Return over "genuine …

Justice Tax Income Delay Itr Come Petitioner
Income Tax: Do you need to disclose property sale in ITR even in case of no capital gain? Find out here
2 years, 1 month ago

Income Tax: Do you need to disclose property sale in ITR even in case of no capital gain? Find out here

Firstpost  

According to the provisions of the law, Section 54EC and Section 54EE are not mutually exclusive. Where capital gain arises from the transfer of a long-term capital asset, the taxpayer is able to claim deduction under Section 54EC While filing income tax returns, you have to disclose income from all sources irrespective of the amount, otherwise, at the time of …

Tax Income Capital Gain Business Income Capital Gain
ITR filing for FY 2021-22: How to calculate capital gain tax on sale of property
2 years, 4 months ago

ITR filing for FY 2021-22: How to calculate capital gain tax on sale of property

Live Mint  

ITR filing for FY 2021-22: Due date for income tax return filing for the assessment year 2022-23 for financial year 2021-22 is just 3 days away. On how to calculate capital gain on property sale, Hemal Mehta, Partner at Deloitte India said, "Property i.e., land and building qualify as a ‘capital asset’, capital gains tax is levied at the time …

Tax Property Sale Capital Capital Gains Cost Clear
ITR filing deadline extended till 31 Dec
3 years, 3 months ago

ITR filing deadline extended till 31 Dec

Live Mint  

The income-tax department on Thursday extended the date of filing income tax returns and report of audits to 31 December, from the previous deadline of 30 September. The date for filing belated ITR returns was also extended by a month from 31 December to 31 January 2022 and reports from accountants on international transactions or specified domestic transactions under Section …

Tax Date Filing Itr Portal
Finance Ministry Extends Due Date For Filing Of Income Tax Returns (ITRs) For FY 2020-2021 To December 31
3 years, 3 months ago

Finance Ministry Extends Due Date For Filing Of Income Tax Returns (ITRs) For FY 2020-2021 To December 31

Live Law  

The Central Board of Direct Taxes today extended the due date of filing of income-tax returns and various reports of audit for the Assessment Year 2021-22 yet again and now, the new ITR filing deadline is December 31, 2021.Earlier, it was extended from July to September and now, the same has been extended to December 31, 2021.The same has been …

Tax Income Audit Direct Taxes Date Filing Itr
Five changes taxpayers and investors need to make a note of
4 years, 2 months ago

Five changes taxpayers and investors need to make a note of

Live Mint  

From the deadline for filing belated or revised income tax return being pushed to the Reserve Bank of India’s new guidelines for credit and debit cards, quite a few recent developments will affect taxpayers, investors and consumers. RBI’s new card guidelines kick in: RBI’s new guidelines to secure payments through debit and credit cards came into effect on 1 October. …

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