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Case Analysis: Sanjay Gandhi Memorial Trust V. Cit – Part I

IP and Legal Filings

Issue: Whether the assessments of the petitioners could be transferred to the Central Circle by way of the impugned orders passed under Section 127 of the Income Tax Act, 1961 (hereinafter be referred to as ‘the Act’) without sanction of the Central Board of Direct Taxes (‘CBDT’).

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Sole Proprietorship in Business

IP and Legal Filings

GST has replaced many indirect taxes such as the service tax, Value added tax, Central sales tax, excise duties, additional customs duties, and so on. An individual making the interstate supply of goods and services and having an annual turnover of over Rs.40 INTRODUCTION. Passport size photos.

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Tax System in India

IP and Legal Filings

“It was only for the good of his subjects that he collected taxes from them, just as the Sun draws moisture from the Earth to give it back a thousand fold” – Kalidas in Raghuvansh eulogizing King Dalip. TYPES OF TAXES. Majorly there are two types of taxes namely, direct taxes and indirect taxes. DIRECT TAXES.

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Hurricane Ian Brings Tax Relief for Those Affected

LexBlog IP

Hurricane Ian definitely brought destruction, but it also brought tax relief for those who were affected. Taxes are likely the last thought one may have if you were affected by Hurricane Ian, but know there is tax relief out there for those affected by Hurricane Ian. Qualified Disaster Relief. for net qualified losses.

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Hurricane Ian Brings Tax Relief for Those Affected

LexBlog IP

Hurricane Ian definitely brought destruction, but it also brought tax relief for those who were affected. Taxes are likely the last thought one may have if you were affected by Hurricane Ian, but know there is tax relief out there for those affected by Hurricane Ian. Qualified Disaster Relief. for net qualified losses.

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Did Hurricane Ian extend deadlines with my Section 1031 Exchange?

LexBlog IP

As you may recall from our previous post , Hurricane Ian extended certain due dates with respect to tax returns for those affected. An Affected Taxpayer includes individuals who live, and businesses (including tax-exempt organizations) whose principal place of business is located, in the state of Florida. Section 6 Relief.

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Important Reminders as 2022 “Tax Day” Approaches

LexBlog IP

If you have not yet filed your 2021 tax return, the Internal Revenue Service provides a plethora of guidance. Below is a summary of few of the items taxpayers should know before filing: Cryptocurrency. Tax Breaks for Teachers. Need more time to file? Click here for more information.