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Source: Business Standard The top court allowed the appeal of the Income Tax Department | (Photo: Shutterstock) 4 min read Last Updated : Oct 04 2024 | 1:30 PM IST In a relief to the Income Tax Department, the Supreme Court has upheld the validity of nearly 90,000 reassessment notices issued by the revenue…
Source: Live Mint The income tax department’s online tax return filing and processing system has proved to be a vast improvement over the old manual system. However, more than a decade after the online system was launched, taxpayers continue to face difficulties, best exemplified by a recent Supreme Court order. In this case, the taxpayer…
Source: Live Mint The date of acquisition for the property inherited by you from your father will be the date on which your father had purchased the property. The cost and date of acquisition for a capital asset acquired under a will or as a gift, will be the cost and the date for which,…
Source: Business Standard 4 min read Last Updated : Sep 15 2024 | 11:28 AM IST The Group of Ministers on reworking the nomenclature for GST compensation cess is likely to be convened by Union Minister of State for Finance Pankaj Chaudhary and include members from states, an official has said. The official…
Source: Live Mint The list of valuers registered with the Income Tax Department for valuation of immovable property is generally uploaded by the chief commissioner of income tax in charge of the particular region and can be found on the income tax website. However, it is not mandatory to obtain the value as on 1…
