The Tribunal ruled that penalty under Section 271A cannot be levied merely because books were rejected and income was ...

Please let me know whether tax audit u/s. 44AB read with section 44AD is applicable for A.Y. 2021-22, for claiming loss from futures & options (derivatives) business of ₹1 lakh on turnover of ₹5 lakh ...

You can continue to claim deduction from taxable income in India for medical insurance premium paid even if you are outside India or qualify as a non-resident in India ...

Think of a tax audit as a financial vibe check. Just like a company’s accounts are verified, income-tax authorities asks certain businesses and professionals to get their books audited by chartered ...

NEW DELHI: Government today extended the deadline for e-filing of income returns and audit reports for a special category of taxpayers, assessed under section 44AB of the Income Tax Act, by a month to ...

The government on Thursday extended the deadline for the filing of tax returns that were due on September 30, 2015 by a month to October 31, 2015. “The issue of extension of last date for e-filing ...

The Koramangala Club has escaped the taxman’s axe. In 2009, the IT Department had acted under Sec 44AB and 271B of the Income Tax Act. Under the former, it held that Koramangala Club had not followed ...