Judgement

The Income Tax Appellate Tribunal, Gauhati Bench has upheld the finding of the ld. CIT(A) that there is no requirement under the provisions of the Act for deduction of tax at source by the partnership firm on salary, bonus, commission or remuneration etc or whatever name called given or credited to a partner of a firm.

No TDS applicable on salary, bonus, commission etc given to partner by partnership firm: ITAT

ITAT allows claim of brought forward loss and current year loss adjusted by CPC

Income Tax Appellant Tribunal (ITAT) Surat has said that in absence of material to show net profit rate, the presumptive net profit rate of 8% as stipulated in section 44AD could be taken for estimation of income.

Income Tax Assessment: Take presumptive rate of 8% u/s 44AD in absence of record; says ITAT

Rs 100 Crore Assessment Notice quashed by High Court due to violation of Natural Justice

News

Know the new banks for over-the-counter and online banking options for e-Pay Tax service

The Central Board of Direct Taxes has informed taxpayers that they must complete the verification of their Income Tax Return (ITR) by January 30.

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

No TDS applicable on salary, bonus, commission etc given to partner by partnership firm: ITAT

ITAT allows claim of brought forward loss and current year loss adjusted by CPC

Income Tax Assessment: Take presumptive rate of 8% u/s 44AD in absence of record; says ITAT

Rs 100 Crore Assessment Notice quashed by High Court due to violation of Natural Justice

Know the new banks for over-the-counter and online banking options for e-Pay Tax service

Finish this Income Tax related work before January 30; Otherwise your ITR will be held Invalid