Taxpatrika

03/06/2022

Penalty cannot be for the wrong claim of TDS: Mumbai Tribunal

The assessee is an individual engaged in the business of plastic products. He filed a return of income on 15th October 2015 at a total income of Rs.1,22,83,260/-. The assessment under section 143(3) o

23/05/2022

Supreme Court orders to setup pilot courts to handle pending Cheque Bounce cases

In order to reduce the number of cheque bounce cases under Section 138 of the Negotiable Instruments Act, it was important that the deadline for cheque bounce cases was clearly defined. The Supreme Co

20/05/2022

Income arising from Agricultural Land cannot be added under Capital Gain: Ahmedabad Tribunal

The brief facts of the case are that during the year, the assessee sold agricultural lands for total consideration of 10,30,200/-. The gain on sale of such agricultural lands amounting to 6,60,504/- w

19/05/2022

माता पिता के cibil स्कोर कम होने पर बचों को education loan देने से इंकार नहीं किया जा सकता : केरल उच्च न्यायालय

Education Loan cannot be denied due to low CIBIL score of Parents: Kerala High Court

The petitioner had submitted an application for an education loan to the Manager of the State Bank of India. The petitioner had submitted all documents required by the Bank in support of the applicati

18/05/2022

Property is Acquired in the Wife’s Name? Husband Can Claim Capital Gain Exemption: ITAT

17/05/2022

Centre extends due date for GST filing amid technical glitch

The Government has extended the due date for filing GSTR-3B for the month of April as taxpayers faced a technical glitch on the Goods and Service Tax (GST) portal. This information was tweeted by CBIC

17/05/2022

Tribunal deletes Addition under section 69 for cash worth Rs 2,30,000 deposited by Salaried Person: ITAT Delhi

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the Addition cannot be made against an individual who is earning income from salary and has deposited an amount of Rs.2,30,000

16/05/2022

What You Need To Know About New Mandatory Income Tax Rules For Transactions Above Rs 20 Lakh

The Central Board of Direct Taxes (CBDT) issued a notification, amending the Income Tax Rules to make it mandatory to provide a Permanent Account Number (PAN) or Aadhaar for a specific set of transact

16/05/2022

The Truth About Investing In Fixed Deposits: Why You’re Losing Money.

Fixed Deposits (FD) have always been considered one of the safest havens for investors' money. RBI data shows that inflation has remained high over the last few years, however, a look at the real

04/05/2022

Can NRIs Receive Cash as Gifts From Relatives In India? The Answer Might Surprise You:

In a recent case Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that there is no prohibition on NRI in accepting cash gifts from the family members and the addition cannot be made by t

04/05/2022

Your Loan EMI will get costlier from today, RBI increases the Repo rate by 40 basis points

You Loan EMI will get costlier from today, RBI increases the Repo rate by 40 basis points

28/04/2022

Gold Monetisation Scheme: Let your Gold lying idle in your bank locker can also earn money for you:

Gold Monetisation Scheme: Let your Gold lying idle in your bank locker can also earn money for you: