Income tax cases in india

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August undefined, 2024

Web13 For centuries, the Hindu Joint Family, called the Hindu Undivided Family (HUF) under the Indian Income Tax Act, has been the constituent atom of the social order in India. It is … WebFeb 15, 2024 · In case of NRIs, income earned in India is taxable. E-filing Income Tax. For the first time in the year 2006-2007, the e-filing facility was introduced by the Income Tax Department. The benefit of e-filing has been extended to all assessees; It is mandatory for firms and companies which require statutory audit under section 44AB.

Income Tax - Case Laws

WebSep 26, 2014 · Central Board of Direr Taxes vide instruction no. 7/2014 dated 26.09.2014, by virtue of its powers under section 119 of the Act, in suppression of earlier instructions/ guidelines on this subject, hereby directs that tile cases selected for scrutiny during the Financial Year 2014-2015 under CASS, on the basis of Either AIR data or CIB information … Web2 days ago · The case comes months after the Income Tax department’s ‘survey’ for three days at BBC India offices in New Delhi and Mumbai in February. Written by India News … data protection in the news

Income tax searches at cooperative banks in Karnataka over tax …

WebDec 20, 2024 · However, dividend income in excess of INR 1 million was chargeable to tax in the case of an individual, HUF, or a firm that is a resident in India at the rate of 10%. Also, dividend income received from an SEBI-registered Indian mutual fund was not taxable in the hands of recipient. WebJan 16, 2024 · 16 Jan 2024. 5,982 Views. 1 comment. 1) Held by the Hon’ble Gujarat High Court in the case of Ball Aerosol Packaging India (P.) Ltd. V Assistant Commissioner of … Web2 days ago · ED steps in to register FEMA case against BBC’s India. After the Income Tax raid, the Enforcement Directorate (ED) also registered a case on foreign exchange violations in money transfers against BBC’s India office. BBC faced the wrath of the Government of India soon after airing a controversial documentary on Prime Minister Narendra Modi, … bitsight tprm

Income Tax Basic Concepts: A Comprehensive Guide - Tax2win

WebTax Management India. Com Law and Practice : Digital eBook Research is most exciting & rewarding WebDec 23, 2024 · The Income Tax authorities then contented that Cairn UK had made capital gains and slapped it with a tax demand of Rs 24,500 crore. Owing to different interpretations of capital gains, the company refused to pay the tax, which prompted cases being filed at the Income Tax Appellate Tribunal (ITAT) and the High Court. bitsight vs upguardWebMar 20, 2024 · The case of Jain Brothers v. Union of India, analyses the constitutional validity of double taxation in India. Jain brothers was a firm having its business in the state of New Delhi. A notice for accounting year 1960-61 was served to the firm, under Section 22 (2) of the Income Tax Act, 1922 as they had not filed their return in time. data protection latest news

"WebMar 2, 2024 · The foreign salary income also would be liable to tax in India and assessee is also eligible to claim foreign tax credit. Accordingly, the assessee filed the return of income for AY...2024-19 on 20.07.2024 wherein foreign tax credit of Rs. 3,55,960/- … " - Income tax cases in india

Income tax cases in india

WebApr 11, 2024 · News India Income tax searches at cooperative banks in Karnataka over tax evasion. ... Delhi logs 980 new Covid cases, positivity rate at 26%. From 'BJP can take away my house' to 'MP just a tag': 5 quotes from RaGa's Wayanad speech. IMF cuts India's FY24 growth forecast to 5.9%, says will remain fastest growing economy ... WebIndian government and the extent of tax evasion in India. He found that the during the period of 2008 -2009, there was the highest recorded of taxes evaded ... income tax, welfare programs, and manpower planning, American Economic Review, 68(1), 1978, pp. 8 -19. [3] Allingham, M.G., and A. Sandmo, Income tax evasion: a ...

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WebJul 2, 2024 · Assessment year and previous year. As per Section 2 (9) of the Income Tax Act, 1961, states that assessment year means the 12 month period beginning on the 1st day of April every year. The assessee is required to file the income tax return of the previous year in the assessment year. As per S.2 (34) of Income Tax Act, 1961, unless the context ... Web2 days ago · Apr 13 2024, 11:37 ist. updated: Apr 13 2024, 11:38 ist. The Enforcement Directorate (ED) has registered a FEMA case against BBC India for alleged foreign …

WebIndia’s income tax department has a very low rate of success in its tax appeals compared with other countries. To address this issue, one of the measures the government has … WebDec 22, 2024 · Top 15 Tax Judgments by Supreme Court in 2024. Skill Lotto Solutions Pvt. Ltd vs Union of India. The Supreme Court upheld the validity of imposing Goods and …

WebDec 13, 2024 · In its case study on central government taxes, the survey found that as of March 2024, about 137,000 direct tax cases were pending. “Given that most of the tax … WebJan 10, 2024 · THIS TYPE OF TOOL PROVIDE IDEA OF APPROX TAX BASED ON INCOME SO TAXPAYER CAN PLAN IT ". * Gross Direct Tax collections for the Financial Year (FY) 2024 …

WebApr 15, 2024 · The instant anticipatory bail application has been renewed principally on the ground that other co-accused namely Binod Kumar Agarwal and Bishal Agarwal, whose anticipatory bail was rejected by the Co-ordinate Bench of this Court, had preferred SLP Nos. 527 of 2024 and 593 of 2024 before the Hon’ble Supreme Court arising out of the same …

WebIndia 38. 476 International Transfer Pricing 2013/14 Introduction A separate code on transfer pricing under Sections 92 to 92F of the Indian Income Tax Act, 1961 (the Act) covers intra-group cross-border transactions which is applicable from 1 April 2001 and specified domestic transactions which is applicable from 1 April 2012. bitsight websiteWebApr 10, 2024 · The tax laws in India provide for taxation of corporate entities as a separate person; and specific income tax return forms for companies are prescribed under the law. The income of a company is classified under different heads of income such as profits earned from the business, capital gains, income from real property and income from other … bitsight third party risk managementWebOct 26, 2024 · In case of any misreporting detected in the income tax return, the income tax officer can levy a penalty of 200% of the tax which is sought to be avoided. In other cases of under reporting of income the penalty shall be restricted to 50% u/s … data protection ks3WebMar 24, 2024 · Income Tax case Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Income Tax case Blogs, Comments and Archive … data protection jargon busterWebIn India, the first Income Tax Act was introduced in 1860. It was implied by James Wilson to overcome heavy losses suffered by the British Government due to India's freedom … bitsight vulnerability scanWeb51 rows · DIRECT TAX Case Laws Search Criteria. Advance Search: SEARCH ALL WORDS ... SC : Supreme Court of India: K.L. SWAMY v. COMMISSIONER OF INCOME TAX & ANR. Partly 113,158BC,158BD,158BFA(1), 2024: 331 CTR 64 , 2024 ITL 24 , 222 DTR 176 , 451 ITR 27 … More than Rs. 40,700 crore sanctioned to over 1,80,630 accounts under Stand-Up … bitsight twitterWebe-Filing of Income Tax Return or Forms and other value added services & Intimation, Rectification, Refund and other Income Tax Processing Related Queries. 1800 103 0025 … data protection lancashire county council