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Madras HC grants Interim Relief to Actor Arvind Swamy on Income Tax Notice seeking Rs 96.41 lakh as Advance Tax
While allowing Interim relief, Madras High Court has ordered not to proceed against actor Arvind Swamy over a notice seeking Rs 96.41 lakh as advance...
![Interest u/s 234B can be levied on failure to Pay Advance Tax in respect of AMT: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Interest-Rates-on-Small-Saving-Schemes.jpg "Interest u/s 234B can be levied on failure to Pay Advance Tax in respect of AMT: ITAT [Read Order]")
Income Tax Returns filed in current fiscal rises 25%, Advance Tax collections up by 41%, says Finance Ministry
As a result of demonetisation and Operation Clean Money, there is a substantial increase in the number of Income Tax Returns(ITRs) filed. The number of Returns filed as on 05.08.2017 stands at...
Amendment to IT Act enabling Adjustment of Seized Assets against Advance Tax do not have Retrospective Effect: CBDT
The Central Board of Direct Taxes (CBDT) recently clarified that the amendment to Explanation 2 of the Income Tax Act, 1961 enabling adjustment of Seized Assets against advance tax has prospective...
Cash Seized during Search can be Adjusted towards Assessees Tax liabilities including Advance Tax: ITAT Mumbai [Read Order]
In N. Venkatanathan v. DCIT, the ITAT Mumbai noted that assessee is entitled to adjustment of cash seized and offered for taxation towards its liability for taxes including advance tax. In the...
![Cash Seized during Search can be Adjusted towards Assessees Tax liabilities including Advance Tax: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Cash-Seized.jpg "Cash Seized during Search can be Adjusted towards Assessees Tax liabilities including Advance Tax: ITAT Mumbai [Read Order]")