Business Line20h
Rejig of income tax norms needs to ring in big-bang changes, say experts
For computation of capital gains arising on slump sale u/s 50B ... should go so that the maximum marginal rate of tax is ...
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Tax Tips On Income From Other Sources: Understanding Taxable Income From Dividends, Interest, Gifts, And More
Income from other sources is one of the five heads of income under the Income Tax (I-T) Act. This category includes any income that is not specifically taxable under any other head. Examples of such ...
Tax Guru2d
No Disallowance under Rule 8D if interest-free funds were adequate to cover investments
The AO, however, disallowed a portion of the interest expenditure under Rule 8D (2) (ii) of the Income Tax Rules, 1962, stating that the company had incurred interest expenses of Rs. 26,27,659. The AO ...
Tax Guru3d
Failure to admit and evaluate additional evidence constitutes violation of natural justice: ITAT Ahmedabad
ITAT Ahmedabad held that CIT (A) erred in upholding addition made by AO without considering the additional evidence. Such failure to admit and evaluate the additional evidence constitutes a violation ...