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Articles by CA Varun Gupta

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New Process for Condonation of Delay in Filing Forms 9A, 10, 10B and 10BB: Key Highlights of Circular 16/2024

Posted by CA Varun Guptapro badge 17 December 2024 1042 Views

In certain instances, due to unforeseen circumstances, the assessee or auditor may file the audit report for the trust in Forms 9A, 10, 10B, or 10BB after the due date. As a result, it has become a common practice for the IT Department to treat the receipt amount as income of the trust and levy tax on it.



Arbitrary Rejections of Section 154 Rectification Requests Challenge Taxpayers

Posted by CA Varun Guptapro badge 16 December 2024 416 Views

The recent rejection of a rectification request under Section 154 of the Income Tax Act, 1961, by the Income Tax Department without providing any explanation has drawn criticism.




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