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Importance of artcileship training your path way in CA@Carrier building Pointers are shared
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YouTube Link👇👇👇👇 On-Money u/s 69 of IT Act
"Sequel one : Section 69 addition in case of on Money"
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The Capital Gain provision is simplified and put it on the table format for the purpose of computation of capital gain qua diffrent types of assets
👇👇👇Different kind of tables below: 👇👇👇
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Book written by Pradip Mukherji
Available on link below:
Youtube discourses/sharing available on blog:
Youtube link_God@Sir@Pradip_Mukherji
"Message from God" By Pradip Mukherji's
Use of God@Sir@Pradip Mukherji's audio, Video, Card, book , Releasing phrase:
I , CA Nitn Pathak , is with him, for so many years: Find him amazing :Please use as a ultimat bliss of life: Through audio, Video, Card, book , Releasing phrase
There is no failure in life for students preparing for competitive exam:
PPT/You Tube on IT Notices on Political Notices,Donation Old Regime VS New Regime, CTC Planning and Investment Options
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----------------------------------------------------Guidance for calculating capital Gain/Loss on mutual fund
Sold Mutual Funds in India during FY23-24? Know the Taxation of Mutual Funds in India before filing ITR
Mutual funds in India are classified based on the proportion of equity investments in their portfolio. The taxation rules for mutual funds differ significantly based on this classification.
1. Equity Oriented Mutual Funds
Equity Oriented Mutual Funds are those that invest 65% or more of their portfolio in equity. The tax implications for these funds are dependent on the holding period.
Holding Period > 12 Months
For investments held for more than 12 months:
- No tax is levied on gains up to ₹1 lakh.
- Gains above ₹1 lakh: 10% Tax + Cess.
Gains exceeding ₹1 lakh are taxed at 10% without the benefit of indexation.
Holding Period < 12 Months
For investments held for less than 12 months:
- 15% Tax + Cess.
- Short-term capital gains (STCG) from these funds are taxed at 15%, along with applicable cess.
2. Other Mutual Funds
Other Mutual Funds are divided into two categories based on the proportion of equity in their portfolio: funds with less than 35% investment in equity, and those with 35% to 65% investment in equity.
Investment in Equity < 35%
For funds with less than 35% investment in equity, the tax treatment is straightforward:
- Gains from these funds are always considered Short-Term Capital Gains (STCG).
- STCG from these funds are taxed at the investor’s normal slab rates without any indexation benefit.
Investment in Equity between 35% and 65%
For funds with 35% to 65% investment in equity, the tax treatment depends on the holding period.
Holding Period < 36 Months
The gains are taxed at the investor’s normal slab rates without the benefit of indexation.
Holding Period > 36 Months
The gains are taxed at 20%, with the benefit of indexation, which adjusts the purchase price of the investment to account for inflation, thereby potentially reducing the taxable gains.
CA Nitin Pathak:More on blog: canitinmpathak.blogspot.com
Thousands of taxpayers face a common issue every year:
TDS was deducted but not deposited, causing a Form 26AS mismatch.
Can you still claim TDS credit?
Two powerful ITAT judgments have now made the answer clear.
Direct Tax Update | Section 205 Protection Reaffirmed
The ITAT has ruled that TDS credit cannot be denied due to a Form 26AS mismatch or the deductor’s failure to deposit tax.
This settles a long-standing issue faced by thousands of taxpayers during CPC 143(1) adjustments.
1. Antaash Sheikh vs ITO, Circle 5(3)(5), Bangalore (AY 2024–25)
• Dunzo Digital Pvt. Ltd. deducted ₹13.14 lakh TDS from salary but didn’t deposit it. CPC and CIT(A) denied credit.
• ITAT reversed the decision, stating the employee cannot be penalized for the employer's default. Section 205 protects the deductee once tax is deducted.
2. Naik Naik & Co. vs CIT, ITA No. 2915/Mum/2025 (Order: 30.09.2025)
• Over ₹96 lakh TDS was deducted from professional receipts but never deposited.
• ITAT Mumbai allowed the credit, holding that denial leads to double taxation and contradicts Section 205. Evidence of deduction was sufficient even without 26AS reflection.
Why This Matters
• TDS deduction creates an immediate right to credit.
• 26AS is not the sole basis for determining eligibility.
• Taxpayers won’t bear the burden of deductor non-compliance, insolvency, or financial distress.
These rulings strengthen taxpayer rights and set a strong precedent for future TDS mismatch and direct tax litigation.
hashtag
#DirectTax hashtag
#IncomeTaxIndia hashtag
#ITAT hashtag
#TDS hashtag
#TaxUpdate hashtag
#TaxCaseLaw hashtag
#TaxCompliance hashtag
#FinanceProfessionals hashtag
#CharteredAccountant hashtag
#TaxLitigation hashtag
#IndianTaxationCA Nitin Pathak : Founder President ISACA-Ahmedabad:nitinmpathak@gmail.com/ 09825804094
Many more Programme on blog:
ISACA guidance for CISA, CISM course
Guidance on system and security course:-Blog created by CA Nitin Pathak: 97731 25132/nitinmpathak@gmail.com
Conclusion:Mission to compete with China by empowering through knowledge: 1. CPE/Non CPE programme: Zoom/Physical :attend:Download PPT/Listen youtube_presentation(Mostly on Saturday: Join through Zoom/Physical)
2. Ask for ISACA Chapter_guidlines_or_any other information_technology_cyber_technology_guidelines3. CA/CMA/CS articleship personnel required4. B.Com., M.Com, CA/CMA/CS(Non-final pass required)
#kolkata #pradipmukherjee # Message from god # GFT # Ahmedabad
# Book Messanger of God # Grace of god # GST # CA Nitin Pathak # ICAI # Ahmedabad
CA Nitin Pathak:
More on blog: canitinmpathak.blogspot.com
Thousands of taxpayers face a common issue every year:
TDS was deducted but not deposited, causing a Form 26AS mismatch.
Can you still claim TDS credit?
Two powerful ITAT judgments have now made the answer clear.
Direct Tax Update | Section 205 Protection Reaffirmed
The ITAT has ruled that TDS credit cannot be denied due to a Form 26AS mismatch or the deductor’s failure to deposit tax.
This settles a long-standing issue faced by thousands of taxpayers during CPC 143(1) adjustments.
1. Antaash Sheikh vs ITO, Circle 5(3)(5), Bangalore (AY 2024–25)
• Dunzo Digital Pvt. Ltd. deducted ₹13.14 lakh TDS from salary but didn’t deposit it. CPC and CIT(A) denied credit.
• ITAT reversed the decision, stating the employee cannot be penalized for the employer's default. Section 205 protects the deductee once tax is deducted.
2. Naik Naik & Co. vs CIT, ITA No. 2915/Mum/2025 (Order: 30.09.2025)
• Over ₹96 lakh TDS was deducted from professional receipts but never deposited.
• ITAT Mumbai allowed the credit, holding that denial leads to double taxation and contradicts Section 205. Evidence of deduction was sufficient even without 26AS reflection.
Why This Matters
• TDS deduction creates an immediate right to credit.
• 26AS is not the sole basis for determining eligibility.
• Taxpayers won’t bear the burden of deductor non-compliance, insolvency, or financial distress.
These rulings strengthen taxpayer rights and set a strong precedent for future TDS mismatch and direct tax litigation.
hashtag
#DirectTax hashtag
#IncomeTaxIndia hashtag
#ITAT hashtag
#TDS hashtag
#TaxUpdate hashtag
#TaxCaseLaw hashtag
#TaxCompliance hashtag
#FinanceProfessionals hashtag
#CharteredAccountant hashtag
#TaxLitigation hashtag
#IndianTaxationCA Nitin Pathak : Founder President ISACA-Ahmedabad:nitinmpathak@gmail.com/ 09825804094
ISACA guidance for CISA, CISM course
Guidance on system and security course:
Conclusion:
#kolkata #pradipmukherjee # Message from god # GFT # Ahmedabad # Book Messanger of God # Grace of god # GST # CA Nitin Pathak # ICAI # Ahmedabad
