News Update Income tax deductions on certain transactions can only be claimed after actual payment 12 Aug 2021 On Wednesday, The Supreme Court had observed that Explanation 3C to Section 43B of the Income Tax Act, 1961 is only clarificatory and meant to hold back the misuse of…
News Update Supreme Court: Section 80 of Income Tax Act provides for deduction 30 Apr 2021 Assessee is in the business of generation of power& also deals with purchase and distribution of power. In this case assessee asked for deduction under section 80-IA of the Act.…
News Update Madras HC dismisses income tax proceedings against MP Karti Chidambaran and wife Srinidhi 12 Dec 2020 Justice N Satish Kumar of the Madras HC dismissed the Income Tax assessment proceedings against Sivaganga Member of Parliament Karti Chidambaran and Srinidhi Chidambaran stating that the proceedings filed were…
News Update Lok Sabha passes taxation bill extending time limit 20 Sep 2020 In the ongoing monsoon session, the lower house of the parliament has passed the Taxation reforms bill, 2020 that seeks to provide relaxations on certain provisions by extending the time…
