Section 244a income tax act
Web14 Aug 2024 · The ITAT held that the respondent is entitled to interest under Section 244A (1) (b) of the Act on the sum refunded to the assessee on recomputation, as a result of the reduction of its taxable income. 5. The learned counsel for the Revenue states that the ITAT has erred in awarding interest on the refund as the same amounts to grant of ... WebDisallowance u/s 14A - objective satisfaction recorded by the Ld. AO having regard to the accounts of the assessee - HELD THAT:- The mandate of section 14A(2) and 14A(3) of the Act read with Rule 8D(1) of the Rules clearly stipulates that the AO is supposed to examine the financial statements of the assessee and from the said examination arrive at an …
Section 244a income tax act
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Web10 May 2024 · Section 244A of the Income Tax Act: Interest on refunds (1) Where refund of any amount becomes due to the assessee under this Act, he shall, subject to the provisions of this section, be entitled to receive, in addition to the said amount, simple interest thereon calculated in the following manner, namely :— Web10 May 2024 · Section 244A of the Income Tax Act: Interest on refunds (1) Where refund of any amount becomes due to the assessee under this Act, he shall, subject to the …
Web2016 (8) TMI 165 X X X X Extracts X X X X. → Full Text of the Document. X X X X Extracts X X X X..... ng interest to the assessee under section 244A(1) of the Act. In this case, there was no decision by the Commissioner or Chief Commissioner on this issue and so much so, we do not think the Assessing Officer made out the case of delay in refund for any period … Web19 Jul 2024 · An Act to restate, with minor changes, certain enactments relating to income tax; and for connected purposes.
WebSection - 244A Interest on refunds Fourteenth Schedule LIST OF ARTICLES OR THINGS OR OPERATIONS Section - 153 Time limit for completion of assessment, reassessment and recomputation Section - 9 Income deemed to accrue or arise in India 6 Record (s) Page … Web2 Sep 2024 · In the interest of fairness and equity, section 244A is amended to provide that an assessee shall be eligible to interest on refund of self-assessment tax for the period …
WebSection - 234A. Interest for defaults in furnishing return of income. 6 Record (s) Page [1 of 1] in 0.047 seconds. TAX INFORMATION AND SERVICES. TAX LAWS & RULES. …
WebAny sum paid on account of Income Tax ( i.e. any rate or tax levied on the profits or gains of any business or profession) is not deductible. Similarly, any interest, penalty, fine for non-payment or late payment of Income tax is not deductible. You can't set off interest under section 234 with 244A. finewinehouse dealWeb7 Oct 2024 · This appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act for short) has been preferred by the revenue. The subject matter of the appeal pertains to the Assessment year 1987-88. ... Section 244A of the Act reads as under: 244A. (1) Where refund of any amount becomes due to the assessee under this Act, he ... error required: connectedservicenamearm inputWeb22 Jun 2024 · It filed its return of income on 30 th November, 2015 declaring total income of ₹217,36,12,673/-. The return was picked up for scrutiny and assessment order was passed under section 143(3) of the Income-tax Act, 1961 (the Act) on 12 th December, 2024. The return of income was accepted as it is and no addition / disallowance was made. fine wine good spirits johnstown paWeb1 day ago · Facts- AO disallowed Rs. 74.32 Lakhs being expenditure incurred towards Corporate Social Responsibility. AO disallowed the said claim by invoking provisions of Explanation 2 to section 37 (1) of the Act, which states that any expenditure incurred on the activity relating to the Corporate social responsibility referred to in section 135 of the ... fine wine house free shipping coupon codeWebIncome Tax Department Currently selected. Tax Laws & Rules > Acts > Indian Fatal Accidents Act, 1855; Tax Laws & Rules > Acts > Indian Partnership Act, 1932 error:request failed with status code 500WebIncrease or Reduction of the Interest on Refund [Section 244A(3)] I. Interest on Refund of Income Tax [Section 244A(1)] Where refund of any amount becomes due to the assessee under the Income-tax Act, he shall be entitled to receive, in addition to the said amount, simple interest on the refund calculated in the following manner: fine wine good spirits philadelphiaWebSection 244A of Income Tax Act for AY 2024-24. Section 244A of Income Tax Act 1961 amended by Finance Act 2024 and Income-tax Rules. Provisions and rules related to … error: request failed with status code 502翻译