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ITR-U Alert: Income Tax Dept urges Taxpayers to File updated ITRs by March 31, 2024
As part of promoting voluntary compliance through e-verification scheme, 2021, the income tax department has urged the taxpayers to review the Annual...
Failure of AO to Inquire into Documents of Foreign Remittance of 9 Crores: Delhi HC sets aside order Passed U/s 148 of Income Tax Act [Read Order]
The Delhi High Court set aside the order passed under section 148 of the Income Tax Act, 1961 as the Assessing Officer failed to inquire about documents of foreign purchase which led to the...
![Failure of AO to Inquire into Documents of Foreign Remittance of 9 Crores: Delhi HC sets aside order Passed U/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-of-AO-Inquire-into-Documents-Foreign-Remittance-Delhi-HC-sets-aside-Income-Tax-Act-TAXSCAN.jpg "Failure of AO to Inquire into Documents of Foreign Remittance of 9 Crores: Delhi HC sets aside order Passed U/s 148 of Income Tax Act [Read Order]")
Budget 2023 Imposes Penalty of Rs. 5,000 for Inaccuracy in Statement of Financial Transactions submitted by Prescribed Reporting Financial Institution [Read Finance Bill]
The Union Budget 2023 imposed penalty of Rs. 5,000 for Inaccuracy in Statement of Financial Transactions (SFT) submitted by Prescribed Reporting Financial Institution and the proposed is amendment is...
Govt Notifies E-KYC Setu’, Common KYC for Financial Transactions to Prevent Money Laundering [Read Notification]
The Ministry of Finance has notified the “e-KYC setu” with an aim to prevent money laundering activities. A notification issued on Wednesday stated that the entities onboarded to perform...
