Income tax cases in india
Web2 days ago · The Enforcement Directorate on Wednesday, April 12, filed a case against BBC India under the Foreign Exchange Management Act (FEMA) over allegations of violating foreign exchange laws. This move comes after February 2024 Income Tax Department survey in BBC offices in India. The IT Dept had non compliance with transfer pricing rules … Web2 days ago · The case comes months after the Income Tax department’s ‘survey’ for three days at BBC India offices in New Delhi and Mumbai in February. Written by India News Desk Updated: April 13, 2024 ...
Income tax cases in india
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WebMar 2, 2024 · An economic interest is possessed in every case in which the taxpayer has acquired by investment any interest in mineral in place or standing timber and secures, by any form of legal relationship, income derived from the extraction of the mineral or severance of the timber, to which he must look for a return of his capital.
WebDec 20, 2024 · However, dividend income in excess of INR 1 million was chargeable to tax in the case of an individual, HUF, or a firm that is a resident in India at the rate of 10%. Also, dividend income received from an SEBI-registered Indian mutual fund was not taxable in the hands of recipient. WebTo express gratitude towards committed taxpayers, the Income Tax Department has started a unique appreciation initiative. It recognizes taxpayers’ commitment by awarding …
WebJan 5, 2024 · Thus, it was held that the applicant’s income is taxable in India as business profit in both the previous year’s 2010-11 and 2011-12. 4. Benefit of MFN clause available from the date when a country becomes a member of OECD; HC allows lower withholding tax on dividend. Case Details: Concentrix Services Netherlands B.V. v. Income Tax Officer ... WebOct 26, 2024 · Income Tax Department has classified income in 5 broad categories. Those are: Income from Salary : The amount received by you from your employer every month comes under the head income from salary.
Web2 days ago · Apr 13 2024, 11:37 ist. updated: Apr 13 2024, 11:38 ist. The Enforcement Directorate (ED) has registered a FEMA case against BBC India for alleged foreign …
WebJan 22, 2024 · Income tax appellate tribunal is a quasi-judicial body. It specializes in dealing with direct tax matters and the order passed by the Income-tax appellate tribunal is final. However, an assessee can file an appeal in jurisdictional High Court only if a substantial question of law arises. share a pdf formWebMar 6, 2024 · The Income Tax Act, a federal law, was enacted in the year 1922 and was then replaced by a new statute in the year 1961. ... of tax is refunded to the taxpayer with an interest of 6 per cent per annum from the date of filing of the return of income. In cases where there is an outstanding tax liability from any prior years, the tax department ... share a pattern crochetWebNov 4, 2016 · Chairman, Income Tax Settlement Commission [W.P. (C) No. 2939 of 2014, dated : 05-12-2014], Bench : Vibhu Bakhru, J. Short Gist Case Law Naresh Trehan v. … share a passwordWebIn the financial year (April-March) 1973–74, tne highest rate of income tax on incomes beyond Rs 200,000 was 85 per cent. In addition, 15 per cent surcharge on income tax was … share a password in iphoneWebFeb 1, 2024 · Income tax for FY 2024-24 applies to all residents whose annual income exceeds Rs.3 lakh p.a. The highest amount of tax an individual could pay is 30% of their … share a pdf file onlineWebJun 11, 2024 · When it comes to dealing with matters under the harsh ‘Black Money’ law, tax authorities in India have a different rule: In many cases, the Investigation Wing of the Income Tax (I-T) Department also carries out the ‘assessment’ — particularly, where search and surveys have been conducted. share apartments for rentWeb2 days ago · Apr 13 2024, 11:37 ist. updated: Apr 13 2024, 11:38 ist. The Enforcement Directorate (ED) has registered a FEMA case against BBC India for alleged foreign exchange violation, reported PTI quoting ... pool hall in the woodlands