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Faceless Appeals launched by CBDT today- Honoring The Honest

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 evasion, sensitive & search matters, International tax and Black Money Act. …

income tax return filing

The taxpayer has to communicate the details of his taxable income/loss to the Income-tax Department. These details are communicated to the Income-tax Department in the form of return of income. In this part you can gain knowledge about various provisions and procedure relating to furnishing (i.e. filing) the return of …

What section 245 N says about Advance Ruling

As per section 245N(a), advance ruling in case of a non-resident means a determination by the Authority in relation to a transaction which has been undertaken or is proposed to be undertaken by a non-resident applicant. Such determination shall include the determination of any question of law or of fact …

Procedure on receipt of application for advance ruling

On receipt of an application, the AAR Shall send a copy thereof to the Principal Commissioner or Commissioner and, if necessary, will call upon him to furnish the relevant records. Where any records have been called for by the Authority in any case, such records shall, as soon as possible, …

Government struck off 3,82,581 shell companies during last three years

सरकार ने मुखौटा (शेल) कंपनियों की पहचान करने और इन्हें बंद करने (कंपनी रजिस्टर से नाम हटाना) के लिए एक विशेष अभियान शुरू किया है। लगातार दो साल या इससे अधिक समय से वित्तीय विवरणों (एफएस) के दाखिल नहीं करने के आधार पर कंपनियों की पहचान की गई और कंपनी …

Advance ruling under income tax law

A resident taxpayer may have some taxation issues in respect of a transaction which has been undertaken or proposed to be undertaken with a non-resident. Similarly, a nonresident may have some taxation issues in respect of transaction which has been undertaken or proposed to be undertaken by him in India. …

section 154 of income tax act

RECTIFICATION OF MISTAKE UNDER SECTION 154 Introduction Sometimes there may be a mistake in any order passed by the Assessing Officer. In such a situation, mistake which is apparent from the record can be rectified under section 154. The provisions relating to rectification of mistake under section 154 are discussed in …

FQA For E-payment Procedure

It is compulsory for every company to pay income-tax tax electronically. Justification : It is compulsory for the following taxpayers to pay tax using the e-payment mode only (i.e., using internet banking facility): All companies All taxpayers other than company who are liable to get their accounts audited as per …