An overview of the ROC Compliance & Due Dates for the FY 2024-25
An overview of the ROC Compliance & Due Dates for the FY 2024-25 1. April 30, 2025 Form MSME-1 (Half-Yearly Return) Filing of outstanding dues to Micro and Small Enterprises for the period October 1, 2024, to March 31, 2025. 2. May 30, 2025 Form 11 (Annual Return of LLP) Applicable to all LLPs for… […]
Hello Companies! Don’t Miss to file Form MSME-1 – The New Compliance!
Hello Companies! Don’t Miss to file Form MSME-1 – The New Compliance! For all companies in India dealing with Micro and Small Enterprise (registered under the MSME Act, 2006) suppliers, it’s crucial to remember the Form MSME-1 requirement introduced by the Ministry of Corporate Affairs (MCA). Purpose of introducing MSME-1: This form helps the… […]
ITAT, Delhi Quashes Penalty for Non-Compliance of Invalid Unsigned Notices Under Section 272A(1)(d)
ITAT, Delhi Quashes Penalty for Non-Compliance of Invalid Unsigned Notices Under Section 272A(1)(d) Recenlty, ITAT, Delhi Quashes Penalty for Non-Compliance of Invalid Unsigned Notices Under Section 272A(1)(d). Let us have a Short Overview of the case: Ramesh Gandhi and Rajesh Gandhi filed appeals against penalty orders passed under Section 272A(1)(d) of the Income Tax… […]
CBDT circular for waiver of Interest in specified cases where TDS/TCS is debited in the bank account within due date but challan reflected later date
CBDT circular for waiver of Interest in specified cases where TDS/TCS is debited in the bank account within due date but challan reflected later date CBDT Circular 05/2025 Dated 28.03.2025 Waiver of Interest levy on specified cases : Finally Income tax department consider payment problem due to technical glitches of TDS/ TCS Payers and… […]
Would a gift given by step brother/ sister be exempt from tax?
Would a gift given by step brother/ sister be exempt from tax? Issue: 1. Assessee has received a property as a gift from his stepsister by way of registered gift deed. 2. AO held that he had reason to believe that receipt of property without consideration is chargeable to tax on the basis of the… […]
Penalty u/s. 270A not leviable as order and notice failed to specify applicable limb: Pune ITAT
Penalty u/s. 270A not leviable as order and notice failed to specify applicable limb: Pune ITAT Deputy Commissioner Of Income Tax, … vs Chakradhar Contractors And Engineers (ITA.No.1939/PUN./2024) Facts: 1. The Assessing Officer completed the assessment determining the total income of the assessee at Rs.32,18,44,630/- by estimating the income from contract work at 10%… […]
Whether surcharge is applicable at respective surcharge slab rate or at maximum surcharge rate in case of the Private Discretionary Trust?
Whether surcharge is applicable at respective surcharge slab rate or at maximum surcharge rate in case of the Private Discretionary Trust? Recently, Special Bench of Mumbai ITAT in the case of Aaradhya Jain Trust Vs ITO [SB decision] was dealing with the issue of levy of surcharge in Private Discretionary Trusts case? It has observed that… […]
Section 50C of the Act is applicable to a property held in leasehold right: Bombay HC
Section 50C of the Act is applicable to a property held in leasehold right: Bombay HC Recently, Bombay HC, Nagpur Bench in 𝘁𝗵𝗲 𝗰𝗮𝘀𝗲 𝗼𝗳 𝗩𝗶𝗱𝗮𝗿𝗯𝗵𝗮 𝗩𝗲𝗻𝗲𝗲𝗿𝗲 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗲𝘀 𝗟𝘁𝗱 𝘃. 𝗜𝗧𝗢 [𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗔𝗽𝗽𝗲𝗮𝗹 𝗡𝗼. 𝟯𝟰 𝗼𝗳 𝟮𝟬𝟮𝟮], 𝗱𝗮𝘁𝗲𝗱 𝟬𝟭.𝟬𝟰.𝟮𝟬𝟮𝟱 has held an important judgement on taxation of transfer of the leasehold rights. It has held that Section 50C of the Act is applicable to a property held in leasehold right. The Hon’ble… […]
Permanent Registration of the Trust: There is no error in claiming exemption under ss. 11 and 12 of the Act when the trust was armed with provisional registration – Nagpur ITAT
Permanent Registration of the Trust: There is no error in claiming exemption under ss. 11 and 12 of the Act when the trust was armed with provisional registration – Nagpur ITAT There are various cases wherein the application done by the charitable trust for final registration has been denied by the CIT (E) by pointing… […]
Redevelopment Scheme: Whether the difference between the stamp duty value of the new flat and the indexed cost of the old one as a taxable “gift” under Section 56(2)(x)?
Redevelopment Scheme: Whether the difference between the stamp duty value of the new flat and the indexed cost of the old one as a taxable “gift” under Section 56(2)(x)? During the redevelopment process, normally the flat owner offers his own existing flat to the builder who rebuilds it and allocate the higher area flat… […]
