Answers On Category: Income-Tax
Let me explain by giving Exm.. Let say x ltd sold some goods to Y ltd amounting to INR 4 Lakhs. Y ltds pays 1.50 Lakhs via RTGS and for balance 2.5 Lakhs Y ltd deposit cash amounting to INR 2.5 Lakhs in bank account of Xltd. Now can AO content that, since Section 269ST allows Account payee check, bank draft or other mode via banking channels which does not include cash deposit directly into bank, this transaction is in violation of section 269 ST and can impose penalty on X ltd. Kindly provide your answer along with proper reference…
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Any remedy for condonation of delay in filing form 10IE and return after due date. Any case laws available on this issue.
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If a person filing ITR under presumtive taxation receives goods & services from registered entity under MSME Act and defaults in making the payment u/s 43B of I.T. Act, 1961 whether legally consequences of default in payment as per Sec 43B will be applicable? Since sections of presumtive taxation starts with "Notwithstanding anything to contrary contained in Sections 28 to 43C..." Section 43B starts with "Not withstanding anything contained in any other provision of this Acr..." My point is provisions of Section 44 comes subsequently to 43B but non obstantive clause in Sec. 43B appears to have wider coverage so…
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Respected sir Myself Ankalkote Siddheshwar tax consultant from latur Maharashtra wants to convey you where Got immunity form ? Wants to request you kindly provide immunity form format
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THERE ARE 3 ASPECTS IN A CASE WHICH NEED CLARIFICATION - CAN AO ISSUE NOTICE U/S. 143(2) AND NOT ATTACH THE REASONS FOR REOPENING EVEN THOUGH IT IS MENTIONED IN THE NOTICE. AND AS AN AFTER THOUGHT SEND A NOTICE U/S. 142(1) WITH THE REASONS. CAN THAT MAKE THE NOTICE U/S. 143(2) INVALID AND WITHOUT APPLICATION OF MIND. SHOW CAUSE SENT ON SATURDAY NIGHT AT 9PM WITH A DUE DATE ON SUNDAY AND SUBMISSION BUTTON DISENGAGED ON MONDAY AND FINAL ASSESSMENT ORDER PASSED BY AFTERNOON OF MONDAY..... WONT THIS QUALIFY AS BEING AGAINST PRINCIPLES OF NATURAL JUSTICE.
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Assessee has made cash deposit in his saving bank account stating that cash was generated through business run by one of the family member. As the cash handling charges in the current account of business is too high and to avoid such charges, assessee is depositing cash generated from business entity into his saving bank account. Assessee has also submitted that the funds were transferred to current account of the business entity within a span of 1 or 2 days. AO has made addition U/sec. 68 on the ground that the amount is unexplained cash credit and to be added…
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Order for A.Year 2004-05 was passed u/s 143(3) & deman created which was partially paid as we were in appeal,after CIT Appeals,Tribunal & High Court we got favourable order in our favour in 2012 & after writing & visiting department order u/s 262(3)/143 was passed on 2.7.2018 but refund was received on 27.10.2020 & later on received refund against interest on 18.8.2022 & after rectifications u/s 154 received refunds again on21.11.2023 I am asking interest u/s 244(1A) but department has paid interest @6% that too upto 2.7.2018 date of order passed u/s 262(3)/143,want clarification on same.
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Let me know TDS Liability in case of Import Freight paid to foreign shipping company
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whether exemption under section 10(23C)(iiiad) can claim against notice of section 148 for AY 2016-2017
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violation of Section 269ST