There are a lot of situations involving tax-deductible expenses that are not neatly reported on a government form from third-party sources. You may also need documentation for the expenses in the following section. Expenses That May Require Additional Documentation Documentation of all self-employment...
Providing latest updates on Direct and Indirect Tax laws including income tax and GST, with Corporate Laws which are being used by the professionals and business entities in day to day activity.
Form 26 AS from the income tax website- A consolidated annual statement of tax deducted/collected at the source, advance tax paid by the individual, and income tax refunds Home loan statements Rental income statement(s) Month-wise rent receipts in case house rent allowance is being claimed Ban...
Penalty under Section 129 not imposable due to improper E-Way bill when no intention to evade payment of tax Bimal Jain 25 November 2024 at 10:47 The Hon'ble Allahabad High Court in the case of Ram Krishna Gupta v. State of UP [Writ Tax No. 728 of 2023 dated July 09, 2024] ...
But first, you need to understand what tax loans are and how they can make filing your taxes easier. Here is the lowdown on what they are and why they might be beneficial: What’s a Tax Loan? A tax loan is a short-term loan that helps you pay the cost of filing your taxes. If...
CASE-3 QUESTION: the Income Tax Act,1961 provides for taxation of a certain income earned in India by Mr. X a non-resident. The DTAA ,which applies to Mr. X provides for taxation of such income in the country of residence. Is Mr. X liable to pay tax on such income earned by him...
Income received from managing charity funds, religious trusts, or voluntary contributions also requires income tax return filing to maintain transparency and adherence to tax laws. 6. Tax Refunds Both individuals and businesses eligible for tax refunds must file their returns through the e-filing incom...
Direct Taxes - Almost all reported Case laws of Supreme Court, High Courts, ITAT Benches & AAR since 1933 [Citations: ITR, CTR, Taxmann, DTR, ITD, TTJ, SOT, ITR(Trib.)]. Almost Circulars, Notifications, Instructions, Orders, Press Releases etc. Direct Taxes Acts & Rules. All Finance...
Basic Key Features of Section 80GGC are mentioned ... INCOME TAX Penalty U/s 270A& 270AA related to income under-reporting/misreporting RJA 20 Aug, 2024 Penalty U/s 270A& 270AA related to income under-reporting & misreporting Penalty U/s 270A& 270AA provisions & case laws ...
Saving money is more than just stuffing cash into a savings account; that’s just the kickoff. Real saving is about piling up asafety net for the future, covering yourself for those “just in case” moments, and grabbing chances to grow your money. It’s all about setting yourself up fo...