Web2 Feb 2024 · Budget 2024 update. The FM has proposed to reduce the highest surcharge rate on income above 5 crores from 37% to 25%, which will reduce the Maximum Marginal … Web11 Apr 2024 · The Chandigarh bench of Income Tax Appellate Tribunal (ITAT)has recently held that income surrendered by way of account receivable was not taxable under deeming provisions of Section 69 read with Section 115BBE of Income Tax Act 1961. Section 115BBE of Income Tax Act 1961 deals with taxation of the income mentioned in section …
2024 (11) TMI 1334
WebInsertion of new section 115BBE. 47. After section 115BBD of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2013, namely:— … Web12 Apr 2024 · This discrepancy was accepted by the assessee and offered for taxation as business income in the return of income. However, the AO held hat access stock found … lelycentre bouwt
Unreported Tribunal Decisions- April 2024 - The Chamber of Tax …
WebSection 115BBE Where the total income of an assessee,— (a) includes any income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D and … Web22 Feb 2024 · It was held that from the provisions of Section 115BBE. it would be clear that the provisions of Section 115BBE (1)(a) of the Act are applicable to the income which is referred to in section 68, 69, 69A, 69B, 69C or 69D reflected in the return of income furnished under section 139 of the Act. The copy of complete order is reproduced hereunder: Web29 Nov 2016 · Here’s how the proposed tax changes would impact tax payable on disclosure of say Rs 5 lakh unaccounted income, as per Iyer of E&Y. Provisions for taxation & penalty of unexplained credit, investment, cash and other assets. TAX (Section 115BBE) Flat rate of tax @60% + surcharge @25% of tax (i.e. 15% of such income) + cess @ 3% of tax & surcharge. le lycee national schools