Mar 222021

An addition of Rs. 11 lakhs made by the Assessing Officer as deemed dividend under section 2(22)(e ) of the Act. However, the assessee has challenged the sustenance of the addition of Rs. 4,55,250 as deemed dividend under section 2(22)( [Read More]

Mar 192021

For the computation of capital gain under Section 48 of the Income-tax Act, 1961 Expenses claim to have spent on construction and/or renovation of property Rs 1,70,000/- In support of its claim, the assessee filed a bill of the said [Read More]

Mar 172021

The assessee claimed deduction under section 24 on account of interest on the loan which was taken for acquiring/constructing house property – However, details for the same, for example: ✔Amount of loan taken, ✔Date of loan, ✔Rate of interest, ✔Confirmation [Read More]

Mar 152021

Computation of Annual value – The assessment year 2001-02 – Total House property tax Rs 3,50,000/- Tax paid by the assessee Rs 3,00,000/- Tax paid by the purchaser Rs 50,000/- Whether Deduction of house tax paid Rs 50,000/- is allowable [Read More]

Mar 122021

Good News from ESIC As You are aware that during the on-going COVID-19 pandemic, ESI Corporation has taken a number of measures so that IPsibeneficiaries face no difficulty in availing vinous benefits under ESI Scheme Since the start of nationwide lockdown in [Read More]

Mar 112021

Particulars of Income Amount (As per income tax return) Amount (As per salary certificate and/or 26AS) Assessee declared salary income Rs. 1,80,000/- Rs 2,40,000/- Balance (Explained as Reimbursement of conveyance expenses) Rs 60,000/-   Total Rs 2,40,000/- Rs 2,40,000/-   [Read More]

Mar 102021

The draft of the Code on Wages Karnataka Rules, 2021 which The government of Karnataka proposes to make in the exercise of the powers conferred by section 67 of the Code on Wages, 2019 (Central Act No. 29 of 2019) [Read More]

Mar 092021

Facts in essence: For the assessment year under consideration, the assessee filed his return of income on 27th September 2011, declaring a total income of Rs. 75,73,399 wherein an amount of Rs. 18,455, under the head “Income From House Property” [Read More]

Mar 042021

The following Act of the Legislature of the State of Haryana received the assent of the Governor of Haryana on the 26th February 2021 and is hereby published for general information This Act may be called the Haryana State Employment [Read More]

Mar 032021

Karnataka Govt has revised & Increase in Cost of Living Allowance (DA) payable in Scheduled Employment under Minimum Wage Notification for the period from 01/04/2021 to 31/03/2022   Industries/Category Notification Shop & Establishment 👉 Karnataka MW 2021-2022-Shop & Establishment-compressed Hotel [Read More]