Direct Tax Vivad Se Vishwas Act 2020 (Act No. 3 of 2020) Dated 17.3.2020. An Act to provide for resolution of disputed tax and for matters connected therewith or incidental thereto. Be it enacted by Parliament in the Seventy-first...
Income Tax
The Income Tax Department today launched Faceless Income Tax Appeals. Under Faceless Appeals, all Income Tax appeals will be finalised in a faceless manner under the faceless ecosystem with the exception of appeals relating to serious frauds, major tax...
Govt measures to promote growth, investment and employment by amending Income Tax Act 1961
3 min read
In September 2019, the Government announced several measures to promote growth, investment and create new employment opportunities through the amendments in the Income-tax Act, 1961 and the Finance Act (No. 2), 2019. This was stated by Shri Anurag Singh...
For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand.
(a) that the assessee was a preacher of the Satsang cult; (b) the gift of land may have been made to the assessee voluntarily but it was made in consideration of certain spiritual benefits that the donor had received...
An Act to continue the existing rates of income-tax for the financial year 2019-2020 and to provide for certain relief to taxpayers and to make amendments in certain enactments.
Income Tax Act - According to Section 292BB of the Act, if the assessee had participated in the proceedings, by way of legal fiction, notice would be deemed to be valid even if there be infractions as detailed in...
Section 63 in The Income- Tax Act, 1995 ” Transfer” and” revocable transfer” defined For the purposes of sections 60, 61 and 62 and of this section,- (a) a transfer shall be deemed to be revocable if- (i) it...
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