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Simplifying Tax Laws | info @taxscan .in | Latest #Tax #Law Updates | Start Up | visit @shopscan_in @TaxscanAcademy

Bengaluru, India
Joined February 2016
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Tax Scan
5 months
CA EXAM vs RIGHT TO VOTE: Grievance filed by CA Final Student before MCA
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5 months
Chartered Accountantย writes Letter to PM for CA Exam Rescheduling During Lok Sabha Elections
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1 year
Govt to Launch New Scheme to Hire Young Professionals from the field of Law and Accountancy with a Monthly Stipend of Rs. 40,000
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1 year
CBI arrests CA for accepting Bribe of Rs. 50,000 in lieu of Favourable Audit Report
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1 year
Partnership Firm Can Claim Depreciation on Motor Vehicle Even if Registered in Partnerโ€™s Name: ITAT
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2 years
2 GST Officers Suspended on Illegal Detention of Chartered Accountants in GST Refund Fraud Case
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9 months
No requirement of CA Certificate for Bank Loan KYC, clarifies RBI
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2 years
Husband can claim Capital Gain Exemption for Investment made in the name of Wife: ITAT [Read Order]
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10 months
Zoho Introduces Free Practice Management Software โ€˜Zoho Practiceโ€™ for Chartered Accountants: Know the Features
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5 months
EXAMS vs. ELECTIONS: CA Students move Delhi HC seeking postponement of Exams by ICAI amidst Lok Sabha Elections
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1 year
ICAI imposes 2.25 Lakh Fine on CA for Exceeding Limit of Auditing in a Financial Year
2
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7 months
CAs Cannot Assume Auditor Position if Previous Auditorโ€™s Fees Remain Unsettled: ICAI
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9 months
ICAI removes 1593 Chartered Accountants from Register of Members for Non-payment of Prescribed Fees
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11 months
Books of Account & Vouchers are not required in 44AD return: ITAT Deletes Addition u/s 69A of Income Tax Act
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10 months
ICAI Ghaziabad Branch Spends Rs. 42,988 for Liquor for Studentโ€™s Conference held in Delhi; Bill Stirs Controversy and Criticism
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1 year
CA Certified Net Worth without Corroborative Evidence: ICAI Imposes Fine
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9 months
Karnataka HC directs ICAI to grant Membership to CA Student who pursued Multiple Courses during CA Studies
5
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11 months
Cash Deposited in Bank Account as a result of Earlier Withdrawal canโ€™t be treated as Undisclosed Income: ITAT
3
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1 year
Failure to Verify Scrap Sale Transaction During Audit is Gross Professional Misconduct under CA Act: ICAI imposes 50000 Fine
5
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1 year
Rental Income received from Agricultural Land shall be exempt from Tax and be treated as Agricultural Income: ITAT [Read Order]
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2 months
Income Tax Portal Technical Glitches Frustrate CAs and Tax Filers as Deadline Nears: Hereโ€™s 15 Glitches Found
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1 year
โ€˜Rs. 5000 Fee for a CA to file ITR is too muchโ€™ statement goes Viral in Twitter; Letโ€™s check the Facts
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2 years
Books of Accounts Need not be Maintained If Income is Offered on Presumptive Basis u/s 44AD of IT Act: ITAT deletes Addition against Vegetable Vendor
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1 year
Deduction on Employeesโ€™ PF Contribution can be Claim Even if Payment was made After Due Date as per S. 36(1)(va) of Income Tax Act: ITAT
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10 months
Service Tax Demand based on Form 26 AS from Income Tax Dept without Investigation is Invalid: CESTAT
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6 months
CBI arrests Central GST Superintendent for Rs. 10k Bribery
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7 months
CA Employed in Govt Organisation Continuously for 8 Years while Holding Full-Time CoP: ICAI Finds CA Guilty of Professional Misconduct
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3 years
Is the Income Tax Website is not working? reply your concerns here. We will retweet it. @IncomeTaxIndia #ITRFiling #IncomeTaxReturns
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2 years
ICAI requests Govt to include Chartered Accountants as Technical Members of GST Appellate Tribunal
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1 year
Young Professionals Scheme of Income Tax Dept: All You Need to Know About Eligibility, Stipend and More
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7 months
Salaried Individuals receive Income Tax Notice for Political Party Donations
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1 year
CBDT issues Guidelines for Compulsory Selection of Returns for Complete Scrutiny in FY 2023-24
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6 months
Bengaluru Chartered Accountant tries to Sell Kidney to Pay EMIs, loses โ‚น6 Lakhs to Scamsters
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1 year
ICAI removes name of 7 CAs from Register guilty of Professional Misconduct for Temporary Period
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2 years
ICAI finds CA Guilty of Misconduct on Non-Mentioning of Absence to keep Books of Accounts and Registers by Society in Audit Report [Read Order]
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6 months
Capital Gain deduction shall not be denied for purchase of New Property in the name of spouse: ITAT [Read Order]
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6 months
GSTN Clarifies GST Registration Process will take 30 Days Post Successful Aadhar Authentication
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1 year
ITR Due Date: Sales Tax Bar Association Requests to Extend Due Date up to 31st Aug 2023
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2 years
Bonafide Mistakes in GSTR-3B can be Rectified as per CBIC Circular: Karnataka HC allows Wipro to Revise GSTR-3B for 3 Years [Read Order]
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1 year
Goodwill acquired on Amalgamation is Eligible for Depreciation u/sย  32 of Income Tax Act: ITAT deletes Disallowance
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9 months
GST Annual Returns (GSTR-9) and Reconciliation Statement (GSTR-9C): A Complete Checklist
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1 year
CA Engaging in any Other Profession Without Seeking Permission of Council is Guilty of Professional Misconduct: ICAI [Read Order]
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2 years
GST Dept started Issuing Late Fee for GSTR-1 Defaulters
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2 years
Restaurant Business Eligible to Declare Income Tax on Presumptive Basis: ITAT [Read Order]
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2 years
ICAI imposes Rs. 5 Lakh and 3 months Probation on CA for exceeding No. of Tax Audits u/s 44AB
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1 year
Fraudulent Refund by Increasing Deductions and Reducing Taxable Income is Fraud committed against Dept to Evade Income Tax: ITAT upholds Penalty CITATION: ย  2023 TAXSCAN (ITAT) 1789
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6 months
Lok Sabha Elections: ICAI to release Fresh Schedule for CA Exams May 2024 Today
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1 year
Advance received for Sale of Property is taxable under โ€˜Income from other sourcesโ€™ if Agreement for Sale is not registered u/s 56(2)(ix) of Income Tax Act: ITAT [Read Order] #Sale #property #taxble #Income #sources #agreement #Incometaxact #ITAT #taxscan #Taxnews Read More:
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7 months
Failure to Communicate Acceptance of Audit to Predecessor CA amount to Professional Misconduct: ICAI Imposes Penalty
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1 year
Income Tax Exemption on Money received under Life Insurance Policy: CBDT issues new Guidelines u/s 10(10D)
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5 months
Direct Tax Code under works, set to Replace Income Tax Act and Revamp Capital Gains, TDS Provisions
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7 months
CA Firm cannot Perform Audit or Sign Reports of a Company where its Partner is Holding Directorial Position: ICAI
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1 year
CA Career Options: Know All About Migration to Canada as an Accountant
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1 year
8 Days to file Income Tax Audit Report Filing: Will Govt Extend Due Date?
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1 year
GST Registration and Other related Services: Know Minimum Fee Recommended by ICAI to CAs
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1 year
Interest paid on Loan for Repayment of earlier loan for Construction of property may be Deductible from House Property Income: ITAT [Read Order]
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6 months
Cash Deposit on Demonetization not to be Taxed as Unexplained Income u/s 69A of Income Tax Act on Explanation of Source: ITAT [Read Order]
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1 year
Chartered Accountant or Advocate cannot Verify Form 35A, They can Only Declare that Content is โ€œTrue to the best of his information and beliefโ€: ITAT [Read Order]
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4 months
CA May Final Financial Reporting โ€“ FR Exam MCQs Leaked before end of ICAI Exam
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4 months
Chartered Accountant Kidnapped by his Driver and Accomplices, Extorts Rs. 60 Lakhs
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8 months
ITR Filed without Regular Balance Sheet and Profit & Loss Account is Defective, not invalid; AO holds Responsibility for Notifying Defects: Supreme Court
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7 months
General Elections 2024: ICAI may Postpone May 2024 CA Inter and Final Exams
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6 months
TDS Rate Chart Released by Income Tax Dept for F.Y. 2024-25: Donโ€™t Miss Out!
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9 months
[BREAKING] New โ€œCA INDIAโ€ Logo Registration Application gets accepted by Trademarks Authority
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1 year
Income Tax Portal Glitches leading to Delay in ITR Filing: Will the Govt Extend Due Date?
9
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11 months
LTCGย from Sale ofย Equity Share of Penny Stock Companies listed with BSE isย not eligible for exemption u/s10(38) of I.T Act :ITAT [Read Order]
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2 years
Ill-Treatment of Chartered Accountants by Investigation Authorities: ICAI to form Group of Members
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7 months
Budget 2024: Threshold for Professionals Eligible for Presumptive Taxation Increased to โ‚น75 lakhs
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6 months
No GST Leviable on Hostels as it Comes under Purview of โ€˜Residential Dwelling For Use as Residenceโ€™ : Madras HC [Read Order]
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7 months
Salaried Employees receive Income Tax Notice seeking Evidence for Deduction Claims in AYs 2021-22, 2022-23 and 2023-24
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11 months
Interest paid towards late Payment of TDS is not Compensatory in Nature: ITAT confirms disallowance u/s 37(1) of Income Tax Act
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1 year
ICAI Announces Relaxation to Old Course Students to Commence 3 Years of Practical Training
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1 year
CBIC waives Filing of Form GSTR-9 and GSTR-9C for Annual Turnover up to 2cr and 5cr #cbic #gstr9 #gstr9c #annualturnover #taxscan #taxnews
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2 years
Income Tax Exemption to Trust u/s 11 cannot be Denied Merely due to Delay in furnishing of Audit Report in Form 10B: ITAT [Read Order]
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7 months
No TDS Deduction u/s 194 J of Income Tax Act, when consultancy charges excluding Service Tax does not Exceed Rs. 30,000: ITAT
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6 months
Income Tax TRACES Portal Now accepts Applications for Lower or Nil TDS/TCS Deduction for FY 2024-25
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4 years
A PIL has been filed in Gujarat High Court, for the extension of due date for furnishing Form GSTR 9 and 9C for 2018-19 and 2019-20. Matter was mentioned today for urgent circulation and accepted for listing on 31.12.2020. Matter is being argued by Advocate Dr. @caavinash
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2 years
CBI arrests a Deputy Commissioner of Income Tax and an Auditor in a Bribery Case
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9 months
New โ€œCA Indiaโ€ Logo under Objection, iCMA Logo Accepted by Patents Authority
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1 year
TDS Deduction u/s 194 J of Income Tax Act if Payment of Professional Services does not Exceed โ‚น30,000 for Relevant FY: ITAT [Read Order]
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9 months
Stamp Duty Value on Date of Allotment to be taken instead of Registration u/s Section 56(2)(vii)(b) of IT Act: ITAT
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1 year
CA Fee High or Low: Know Minimum Fee fixed by ICAI on Income Tax Returns Filing
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6 months
Cash Deposit received from Mother as Gift during demonetization period properly Explained: ITAT deletes Addition u/s 69A
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7 months
Income Tax TRACES Portal New Functionality: Dept enables lower/nil TDS application facility against excessive TDS deductions
1
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6 months
CA Exam Postponement: Students under Distress from Speculations Anticipate Official Statement from ICAI
1
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11 months
No Addition shall be made u/s 44AD by AO without Rejecting Books of Accounts: ITAT
1
10
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6 months
Interest earned on deposits kept for Business cannot be taxed as Income from other Sources: ITAT [Read Order]
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5 months
Non-Filing of Income Tax Returns: Income Tax Dept to issue Notice to 1.52 Cr Individuals under Taxable Slab, Salaried Persons with Deducted TDS
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2 years
Filing of Income Tax Return along with Tax Audit Report: ITAT deletes Penalty of Rs 1 Lakh
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5 months
Bengaluru Police arrests Noida CA in Rs. 168 Cr Fake Bank Guarantee Scheme
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11 months
Capital Gain Deduction u/s 54F of Income Tax Act cannot be allowed without holding Flats for a minimum period of 3 years: ITAT
3
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10 months
Income Tax Dept starts Intimation of Justification Reports from TRACES Portal w.r.t. short deduction of TDS in PAN-Aadhaar Linking Higher Rate
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1 year
Audit and Certification Works: Know Minimum Fee Recommended by ICAI which Starts from Rs. 2000 to Rs. 80,000
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1 year
Interest Income earned from Deposits made on other Cooperatives Banks are eligible for deduction u/s 80P(2)(d) of Income Tax Act: ITAT
2
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6 months
MSME Payment Rule: Finance Ministry likely to Push Back Implementation of 45-Day Payment Rule to April 2025
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