Direct Tax
No Capital Gain Tax Payable By NRI On Mutual Fund Gains: ITAT [READ ORDER]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that no capital gain tax payable by Non-Resident Indian (NRI) on Rs. 1.35...
S. 271(1)(c) Penalty Not Applicable On Voluntary Surrender, Bonafide Mistake: Chhattisgarh High Court
The Chhattisgarh High Court has issued the clarification on the penalty under Section 271(1)(c) while emphasizing on voluntary surrender and bonafide mistake.
The bench of ...
DRI Officer Among Eight Arrested; Punjab Police Bust Pakistan-Backed Drug Cartel
In a major crackdown on drug smuggling, the Punjab Police has successfully dismantled a Pakistan-backed drug cartel, arresting eight key operatives, including a Directorate...
Once Tax Is Assessed, Entire Amount Has To Be Paid In Absence Of Amnesty Schemes: Kerala High Court
The Kerala High Court has held that once tax has been assessed, the entire amount has to be paid, unless there are amnesty schemes.
The...
Kerala High Court Condones Delay In Filing Audit Report
The Kerala High Court has condoned the delay in filing the audit report for the assessment year 2021-2022.
The bench of Justice Bechu Kurian Thomas...
Surcharge On Private Discretionary Trusts To Be Computed As Per Slab Rates Prescribed In Finance Act: ITAT
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that surcharge on private discretionary trusts to be computed as per slab rates...
CBDT Exempts HUDCO Bonds From LTCG
The Central Board of Direct Taxes (CBDT) has notified that bonds issued by the Housing and Urban Development Corporation Limited (HUDCO), redeemable after five...
ITR-B For Block Search Assessment Return U/S.158BC(1)(a) of Income Tax Act: CBDT
The Central Board of Direct Taxes (CBDT) has notified the ITR-B For block search assessment return under section 158BC(1)(a) of Income Tax Act which...