Judgement

The Income Tax Appellate Tribunal(ITAT) has deleted the penalty u/s 271(1)(c) with regard to Non-Disclosure of Income in ITR due to ignorance and mistake of Accountant.

Non-Disclosure of Income in ITR due to ignorance and mistake of Accountant: ITAT deletes penalty u/s 271(1)(c)

Articles

Tax Advocates Association Gujarat has made representation before Hon'ble Finance Minister and CBDT Chairman to extend due date for filing ITR for AY 2023-24 from 31st July 2023 to 31st Aug, 2023.

Extend Due Date of Filing Income Tax Return for AY 2023-24: Tax Advocates Association Gujarat

News

Finance Minister stated that the income tax department has issued one lakh notices to taxpayers who had either not disclosed or underreported their income.

Income Tax Dept. sends 1,00,000 Notices over under reported Income

The “Depositor Education and Awareness Fund Scheme, 2014”, was notified by RBI, which covers norms related to unclaimed deposits and outlines details of utilisation of fund.

Banks receive Rs.5,729 Crore from DEA Fund for Settling Unclaimed Deposit Refunds

The High Court of Delhi has held that GST Number cannot be cancelled on mere directions of another authority.

GST Number cannot be cancelled on mere directions of another authority: HC

The Ministry of Corporate Affairs(MCA) in the matter of Shri. Thiyagarajan Parthasarathy has imposed Penalty of Rs.5,03,500 on Director for having 2 DINs.

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Non-Disclosure of Income in ITR due to ignorance and mistake of Accountant: ITAT deletes penalty u/s 271(1)(c)

Extend Due Date of Filing Income Tax Return for AY 2023-24: Tax Advocates Association Gujarat

Income Tax Dept. sends 1,00,000 Notices over under reported Income

Banks receive Rs.5,729 Crore from DEA Fund for Settling Unclaimed Deposit Refunds

GST Number cannot be cancelled on mere directions of another authority: HC

Penalty of Rs.5,03,500 levied on Director for having 2 DINs