© 2020 Taxway Global. All rights reserved.
The Income Tax Department has introduced the offline utility for Assessment Year 2021-22, based on new technology JavaScript Object Notation (JSON), has been enabled only...
Budget 2021 – The Finance Ministry is of the view that Goodwill, in general, is not a depreciable asset and in fact depending upon how the business...
The Central Board of Direct Taxes (CBDT) notified the amendment in FORM NO. 12BA under Income-tax Rules, 1962. The Board notified the Income-tax (3rd Amendment)...
1. The Central Board of Direct Taxes and Customs (CBDT) issued the Instructions regarding the selection of cases for the issue of notice under section...
Introduction:- Hon’ble FM Smt. Nirmala Sitaraman proposed in Budget 2021 that certain classes of Senior citizens who fulfill following conditions are not required to file...
Set off of losses: Set off of losses means adjusting the losses against the profit or income of that particular year. Losses that are not...
Section 78 of the Income Tax Act: Carry forward and set off of losses in case of change in constitution of firm or on succession:...
Section 75 of the Income Tax Act: Losses of firms: Where the assessee is a firm, any loss in relation to the assessment year commencing...
Carry forward of losses: After making the appropriate and permissible intra-head and inter-head adjustments, there could still be unadjusted losses. These unadjusted losses can be...
Carry forward of losses: After making the appropriate and permissible intra-head and inter-head adjustments, there could still be unadjusted losses. These unadjusted losses can be...
