INCOME TAX/BLACK MONEY : Relevant point of time for taxation, under Black Money (Undisclosed Foreign Income amp; Assets) and Imposition of Tax Act 2015(BMA), of an undisclosed foreign asset is…
INCOME TAX : Where assessee received substantial amount of cash from her husband which was used to purchase property for residence of family members, since amount was used for benefit…
INCOME TAX/BLACK MONEY : Relevant point of time for taxation, under Black Money (Undisclosed Foreign Income amp; Assets) and Imposition of Tax Act 2015(BMA), of an undisclosed foreign asset is…
INCOME TAX : Where assessee-company incurred expenditure towards expansion of its existing business by way of a new project of starting a hotel chain, said expenditure was to be treated…
There are no qualms on taxability of income tainted with illegality. Even thereunder tax is assessed on‘profits’amp; not on gross receipts.There are no qualms on taxability of income tainted with…
INCOME TAX : Where assessee explained source of cash credit in her bank account by filing material evidence, addition could not be made holding same as unexplained cash creditINCOME TAX…
The SEBI has issued informal guidance whereby it has been clarified that the extant legal framework governing portfolio managers does not envisage investment in/advice on offshore shares and securities which…
The Central Board of Direct Taxes (CBDT) has notified that the tolerance limit of 1 per cent for wholesale trading and 3 per cent in all other cases for ALP…
In the context of formulating the proposals for the Union Budget 2022-23, the Ministry of Finance has invited suggestions for changes in the duty structure, rates, and broadening of tax…
The CBDT has notified e-Settlement Scheme, 2021 to conduct e-settlement of pending applications allocated or transferred to Interim Board from Settlement Commission. The applicant shall not be required to appear…