Search Results for Tag : Tax
Judgments
Contradictory ‘dominance’ reports for the same market bewilder CCI(09.02.2016)
The Competition Commission of India dismissed a complaint by Mega Cab, a popular app-cab operator, for investigation into the creation of barriers to .....
Tags : Radio taxi, relevant market, financial backing, exlclusivity
Top Story
Claiming time of essence in property sale? Prove it!(16.02.2016)
Bangalore High Court set a high threshold for claims that time was of the essence in a contract for sale of immovable property. Onus, however, was pla.....
Tags : reasonable, time of essence, immovable property, sale, income tax clearance
Lok Sabha Passes the Taxation Laws (Second Amendment) Bill, 2016(28.11.2016)
After the demonetization drive of discontinuing old 500 and 1000 rupees note, the central government has introduced the Taxation Laws (Second Amendm.....
Tags : Bill, Taxation laws, Amendment
Notifications & Circulars
Need to move towards a mindset of voluntary compliance and payment of legitimate taxes - Finance Minister(26.12.2016)
Payment of due tax is a responsibility of every citizen; Coordination between the Central and the State administration is important for smooth transit.....
Tags : Taxes, Payment, Voluntary Compliance
Income Tax Department receives Silver Award for e-filing of Income Tax Returns project in the Awards National on e-Governance 2016-2017(10.01.2017)
The Income Tax Department is proud to announce that it has been conferred the Silver Award in the National Awards on e-Governance-2016-17 for the e-fi.....
Tags : Tax-returns, e-filing, Awards National
Declaration of Black Money by Tax Payers(07.02.2017)
There is no official estimation of percentage of black money held in India in cash. In the last financial year (2015-16) 648 disclosures involving und.....
Tags : Black money, Declaration, Tax payers
CBDT has been asked to consider inclusion of Service Charge while assessing tax: Shri Ram Vilas Paswan(13.09.2017)
Shri Ram Vilas Paswan, Union Minister for Consumer Affairs, Food & Public Distribution told that in order to check the levying of Service Charge compu.....
Tags : Service Charge, Inclusion, Tax, Assessment
Clarification regarding taxability of custom milling of paddy(20.11.2017)
1. Representations have been received seeking clarification on whether custom milling of paddy by Rice millers for Civil Supplies Corporation is liabl.....
Tags : Taxability, Milling, Paddy
Reporting of U.S. Tax Identification Numbers (TINs) for pre-existing accounts by Financial Institutions(15.01.2018)
India and USA have signed the Inter-Governmental Agreement (IGA) under FATCA in 2015. To enhance the effectiveness of information exchange and transpa.....
Tags : Tax Identification Numbers, (TINs), Accounts, Financial Institutions
Certain transitional issues arising with respect to payment of service tax after 30th June 2017(28.09.2017)
I am directed to refer to two such issues which have arisen in the above context and to state that these issues have been examined and the following c.....
Tags : Transitional issues, Service tax, Payment
CBDT notifies Income Tax Return Forms for Assessment Year 2018-2019(05.04.2018)
The Central Board of Direct Taxes (CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19. For Assessment Year 2017-18.....
Tags : CBDT, Forms, Income tax
Municipal taxes would be a part of the "rent" payable by tenant to landlord(09.08.2018)
Present appeal by special leave by the landlord is against the order passed by the Calcutta High Court. Proceeding were under the West Bengal Premises.....
Tags : Municipal taxes, Payment, Obligation
Exporters advised to file Table 6A and GSTR 3B for processing of IGST Refund and for Refund of the unutilized Input Tax Credit(29.11.2017)
The Government of India is seized of the issue of Exporters complaining about delay in grant of refunds pertaining to Integrated Goods and Services Ta.....
Tags : Refund, IGST, Input Tax
GST leads to Formalization of Economy and Widening of Tax Base(18.06.2018)
Historic tax reform, the Goods and Service Tax (GST), has resulted in formalization of economy and consequently information flow would eventually augm.....
Tags : GST, Tax Base
CBDT identifies non-filers through Non-filers Monitoring System (NMS) by using Data Analytics and request the Non-filers to assess their tax liability for AY 2018-2019(22.01.2019)
The Non-filers Monitoring System (NMS) aims to identify and monitor persons who enter into high value transactions and have potential tax liabilities .....
Tags : Non-filers, Identification, Tax liability
Draft Notification proposing Amendment of Rules 2C, 2CA and 11AA and for Nos. 10G, 56 and 56G of the Income-Tax Rules, 1962 placed in public domain for inputs from stakeholders and general public(29.10.2018)
Currently, for grant of approval under sub-clauses (iv) and (v) of clause (23C) of Section 10 of the Income-tax Act, 1961 (the Act), for exemption of .....
Tags : Draft Notification, Amendment, Income-Tax Rules
Value of both supply and service is to be added for payment of service tax under composition scheme(18.09.2018)
The facts of the matter are that, the Respondent/Assessee is registered with the department for various services such as erection, commissioning and i.....
Tags : Valuation, Tax, Evasion
Central Government’s Last Budget Showers Benefits To Tax Payers Aiming Upcoming Elections(01.02.2019)
The Finance Minister Shri Piyush Goyal presented an interim budget in Parliament on Friday and announced numbers of benefits to the people. Aimed at u.....
Tags : Budget, Benefit, Tax-payers
E-filing of Income Tax Returns registers an increase of 19%(06.05.2019)
There have been some incorrect reports in media pertaining to reduction in numbers of Income Tax Returns(ITR) e-filed during Financial Year(F.Y.) 2018.....
Tags : E-filing, Income Tax, Returns
Taxability of the service of access to a road or bridge in the period 8-11-2016 to 1-12-2016(21.05.2019)
I am directed to draw your attention to a representation from the Construction Federation of India wherein they have stated that due to the demonetisa.....
Tags : Taxability, Service, Access to a road or bridge
A thing is a part of the other, if other cannot function without it(26.03.2019)
In facts of present case, the Respondent is engaged in the business of trading of spare parts of mining machinery, steel wire ropes, standard wires, w.....
Tags : Goods, Classification, Rate of tax, Levy
CBDT issues Draft Notification for Amendment of Form No 10B of the Income-tax Rules, 1962(21.05.2019)
Section 12A of the Income-tax Act, 1961 (the Act) provides for conditions for applicability of Sections 11 and 12 of the Act. One such condition under.....
Tags : Notification, Amendment, Form No 10B, Income-tax Rules
CBDT issues clarification on eligibility of small Start-ups to avail tax holiday(22.08.2019)
The Central Board of Direct Taxes (CBDT) has clarified that, small start-ups with turnover upto Rs. 25 crore will continue to get the promised tax hol.....
Tags : Tax Holiday, Eligibility, Small Start-ups, Clarification
International Cases
Payment by employer to tax consultants to render assistance to expatriate employees is taxable ‘benefit or advantage’ as contemplated in the definition of ‘gross income’(06.09.2019)
The Appellant, BMW South Africa (Pty) Ltd (BMWSA), is part of the BMW Group (the Group) that manufactures and markets BMW vehicles and conducts worldw.....
Tags : Payment, Tax Consultant, Assessment, Legality
CBDT takes further steps to ensure transparency in Tax Administration by bringing in concept of DIN(15.08.2019)
With a view to bringing greater transparency in the functioning of the tax-administration and improvement in service delivery, almost all notices and .....
Tags : Transparency, Tax Administration, Steps
Parliament Passes Taxation (Amendment) Bill, 2019 Replacing the Ordinance Promulgated by President in September, 2019(05.12.2019)
Rajya Sabha has cleared the Taxation Laws (Amendment) Bill, 2019, replacing an Ordinance that was used to slash corporate tax rates to stimulate growt.....
Tags : Bill, Clearance, Corporate tax rate, Slashing of
Cabinet approves protocol amending convention between India and Brazil for avoidance of double taxation(06.11.2019)
The Union Cabinet Chaired by the Prime Minister approved the signing of the Protocol amending the Convention between India and Brazil for the avoidanc.....
Tags : Convention, Approval, Double Taxation
Government brings Taxation Laws (Amendment) Ordinance, 2019 slashing corporate tax rates to boost investment(20.09.2019)
In order to make certain amendments in the Income-tax Act, 1961 and the Finance Act, 2019, the Government has brought in the Taxation Laws (Amendment).....
Tags : Ordinance, Corporate tax, Reduction
Cabinet approves protocol amending the Convention between India and Brazil for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income(06.11.2019)
The Union Cabinet Chaired by the Prime Minister Shri Narendra Modi approved the signing of the Protocol amending the Convention between the Government.....
Tags : Protocol, Approval, Double taxation
Clarification in respect of option under Section 115BAC of the Income-tax Act, 1961(13.04.2020)
1. Section 115BAC of the Income-tax Act, 1961 (the Act), inserted by the Finance Act, 2020 wef the assessment year 2021-22, inter alia, provides that .....
Tags : Clarification, Filing return, Tax deduction
Income tax is charged on the employment income of an employed diver, which includes fiction that, diver is carrying on a trade(20.05.2020)
In facts of present case, Mr. Martin Fowler is a qualified diver who is resident in the Republic of South Africa. During the 2011/12 and 2012/13 tax y.....
Tags : Employment income, Tax, Levy
Cabinet approves protocol amending the Agreement between India and Sri Lanka for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income(12.02.2020)
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the Signing and Ratification of the Protocol amending the Agreement .....
Tags : Agreement, Amendment, Double taxation
Prime Minister launches platform for "Transparent Taxation”(13.08.2020)
In order to reform tax system, Prime Minister launches platform for ‘Transparent Taxation - Honoring the Honest’. The Prime Minister said that, the pl.....
Tags : Taxation system, Transparency, Reforms
Income Tax Department validates Unique Document Identification Number generated from ICAI portal for Tax Audit Reports(26.11.2020)
In continuation with the ongoing initiatives of the Income Tax Department for integrating with other Government agencies, Income-tax e-filing portal h.....
Tags : Validation, UDIN, Tax Audit
Remittance made by the assessee abroad towards commission expenses is not chargeable to tax in India(11.01.2021)
In instant case, the Assessing Officer (AO) disallowed claim towards commission expenses on export sales to the extent of Rs. 78,90,570 in the course .....
Tags : Assessment, Tax, Levy
Central Government announces income tax relief for real-estate developers and home buyers(13.11.2020)
Finance Minister announces certain income tax relief measures for real-estate developers and home buyers. This being a much needed step would infuse p.....
Tags : Tax relief, Announcement, home buyers
Clarifications in respect of the Direct Tax Vivad se Vishwas Act, 2020(28.10.2020)
1. With the objective to reduce pending income tax litigation, generate timely revenue for the Government and benefit taxpayers by providing them peac.....
Tags : Clarifications, Direct Tax, Act, 2020
Green tax to be imposed on older vehicles soon, to clean up the environment by phasing out unfit and polluting vehicles(25.01.2021)
The Union Minister for Road Transport and Highways Sh. Nitin Gadkari has approved a proposal to levy a "Green Tax" on old vehicles which are polluting.....
Tags : Green tax, Imposition, Older vehicles
Government announces various relief measures for taxpayers under GST law in view of severe COVID-19 pandemic(02.05.2021)
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) law due to the outbr.....
Tags : Relief measures, Taxpayers, GST law
Payment made by hospital to consultant doctors requires deduction of tax at source under Section 194J of IT Act(12.07.2021)
The revenue is aggrieved by findings of Learned Commissioner of Income Tax (Appeal) [CIT(A)] that, the payment made by assessee hospital to certain co.....
Tags : Tax deduction, Applicability, Provision
In order to bring ‘Business profits’ of a resident of the other country to tax in India within the ambit of Article 7 of DTAA, foreign enterprise must have a Permanent Establishment (PE) in India(15.06.2021)
The assessee is a company registered in, and a tax resident of the United States of America. No return of income was filed for the year under consider.....
Tags : Assessment, Tax, Levy
Income Tax Amendment (19th Amendment), Rules, 2021(07.07.2021)
In exercise of the powers conferred by proviso to section 50 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Dire.....
Tags : Income Tax, Amendment, Rules
Procedure for exercise of option under sub-section (1) of Section 245M and intimation thereof by furnishing and upload of Form No. 34BB under sub-Rule (1) of Rule 44DA of Income-Tax Rules, 1962(24.05.2021)
In exercise of the powers conferred by the Department of Revenue, Ministry of Finance, under sub-rule (3) and sub-rule (4) of Rule 44DA of the Income-.....
Tags : Form, Income Tax
Finance Minister presented Union Budget, 2022 in the Lok Sabha(01.02.2022)
The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament. The Union Budget while co.....
Tags : Budget, Proposal, Taxpayers
CBDT extends due dates for filing of Income Tax Returns(11.01.2022)
CBDT extends due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961 (I.....
Tags : Extension, Timelines, Income-tax returns
Deposit of tax during the course of search, inspection or investigation(25.05.2022)
1. During the course of search, inspection or investigation, sometimes the taxpayers opt for deposit of their partial or full GST liability arising ou.....
Tags : Deposit, Tax, Investigation
Service can be taxable in the hands of the recipient in India only when the part of it is performed in India(26.09.2022)
The issue involved in the present case is that whether the Appellant is liable to pay service tax in respect of exhibition service provided by foreign.....
Tags : Tax, Levy, Legality
Leave Travel Concession has to be availed by an employee within certain limitations, prescribed by the law; LTC is not for a foreign travel(04.11.2022)
The Appellant (State Bank of India) has challenged the judgement passed by a Division Bench of the High Court which has dismissed the appeal filed by .....
Tags : Payment, LTC, Tax deduction
CIT(A) cannot change the provision of law qua the item of which assessment was made(21.12.2022)
The assessee filed her return of income for the assessment year 2011-12 returning total income of ₹.2,35,280. During the course of remand proceedings .....
Tags : Income Tax Appellate Tribunal, Chennai
Reasons for the formation of the belief must have rational connection with or relevant bearing on the formation of the belief(18.01.2023)
The assessee is a resident individual engaged in Multi-Level-Marketing on agency basis, had filed return of income ["ITR"] for AY 2011-12 declaring to.....
Tags : Assessment, Tax, Levy
Liability to deduct tax under Section 195 of IT Act arises only when the "sum" being paid is chargeable to tax under the IT Act(20.07.2022)
The Assessee had entered into an agreement with GSI Engine B.V., {a tax resident of Netherland, having its head office at Netherland} qua an aircraft .....
Tags : Tax, Provision, Applicability
Certificate from Collector has to be placed by the assessee to determine that particular land comes under the urban land or agricultural land(27.07.2022)
The assessee is an individual derives income by way of rent, interest and agriculture etc. The assessee filed return of net wealth for A.Y. 2010-11 de.....
Tags : Wealth tax, Addition, Legality
SVLDR Scheme is required to be interpreted liberally to further its object(22.05.2023)
The Petitioner has filed the present petition under Article 226 of the Constitution of India, 1950 impugning the decision of the concerned authority t.....
Tags : Tax dues, SVLDR Scheme, Applicability
Union Minister of Finance and Corporate Affairs presented the Union Budget 2023-24 providing major relief in the personal income tax(01.02.2023)
The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament. The Union Minister for F.....
Tags : Budget, Relief, Income Tax
Essential operations of the business must be conducted within the jurisdiction in respect of which exemption is sought(07.02.2023)
The Respondent, CIMSA, is the holding company for the Coronation Group which is registered and tax resident in South Africa. During 2012, CIMSA was a .....
Tags : Income, Assessment, Tax
Same activity can be taxed as ‘goods’ and ‘services’ provided contract is indivisible(10.04.2023)
The Revenue has preferred the present appeals feeling aggrieved with the impugned judgment and order passed by the CESTAT, by which the CESTAT has hel.....
Tags : Design services, Levy, Tax
Agency Commission for collection of indirect taxes through ICEGATE payment gateway(14.06.2023)
1. This is with reference to Para 21 of our Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated Apr.....
Tags : Collection, Taxes, ICEGATE
Gambling tax is payable in respect of freeplay credits(04.09.2023)
The Board, together with Sun International Subsidiaries Grand west and Golden Valley casinos approached the Western Cape High Court for resolution of .....
Tags : Assessment, Gambling tax, Payment
News
Gauhati HC Stays Service Tax Demand Made Post-GST Rollout(19.12.2017)
Gauhati High Court has stayed a show cause notice issued by the department demanding service tax from the petitioner M/s Mascot Entrade Pvt Ltd for wa.....
Tags : Goods and Service Tax
Tax deadlines extended in Tamil Nadu(07.12.2015)
Due to widespread flooding in Chennai and Tamil Nadu, the Central Board of Direct Taxes extended the date for deposit of tax deducted at source and ta.....
Tags : Excise, service tax, extension, tamil nadu
Telangana HC Directs Regional Transport Authority to Not to Demand Additional Life Tax on New Vehicle(31.10.2019)
Telangana HC has observed that State cannot be allowed to levy life tax on the ex-showroom price shown in the price list, when it is not the actual co.....
Tags : Telangana HC, life tax
Collection of Post-dated Cheques During Inspection Not Permissible Under GST: Gujarat HC(01.05.2018)
Gujarat High Court has said that the practice of collecting post-dated cheques during inspection is not permissible under the Goods and Services Tax .....
Tags : Goods and Services Tax
Deduction of tax under Section 194-I of Income-tax Act on payment in the nature of lease rent or supplemental lease rent made to a person being a Unit of IFSC – Reg.(01.08.2023)
In exercise of the powers conferred by sub-section (1F) of section 197A read with clause (c) of sub-section (2) of section 80LA, of the Income-tax Act.....
Tags : Deduction, Tax, Lease rent
Order under Section 119 of The Income-Tax Act, 1961(13.12.2017)
Due to certain technical issues faced by NSDL's gateway for e-payment of tax on 7th November, 2017, some taxpayers/ deductors were unable to make e-pa.....
Tags : Tax deposit, Due date, Extension
CBDT Increases Monetary Limit for Court Appeal by Income Tax (I -T) Department(14.12.2015)
Central Board of Direct Taxes (CBDT) in order to cut down on frivolous litigation and taxpayers grievances, has issued fresh directions revising monet.....
Tags : Central Board of Direct Taxes, Monetary Limit for Court Appeal
ITAT: BCCI Can't Be Denied Income Tax Exemption Just Because IPL Makes Profits(15.11.2021)
Income Tax Appellate Tribunal has held that the Board of Control for Cricket in India (BCCI) is entitled to registration under Section 12A of the Inco.....
Tags : Income Tax Appellate Tribunal, Board of Control for Cricket in India
No TDS Since Roaming Charges Is Not Fee for Technical Services: ITAT, Chennai(07.12.2017)
Income Tax Appellate Tribunal (ITAT), Chennai has held that roaming charges cannot be considered as fee for technical services, hence there is no need.....
Tags : Income Tax
Maharashtra Postpones E-Way Bill Rollout to 31st May(01.05.2018)
Maharashtra government has postponed the implementation of the e-way bill regime till May 30.
Tags : Goods and Services Tax
ITAT, Bangalore Grants Partial Relief to Google Ireland Where Tribunal Expedited Hearing(06.09.2021)
Income Tax Appellate Tribunal (ITAT), Bangalore has granted partial relief to Google Ireland where the Tribunal expedited the hearing and posted the m.....
Tags : Income Tax Appellate Tribunal, Partial Relief to Google Ireland
CBDT Extends Deadline for Filing of Income Tax Returns for J&K and Ladakh(26.12.2019)
Central Board of Direct Taxes has again extended the deadline for filing of all kinds of income tax returns to January 31, 2020, in the newly-created .....
Tags : CBDT, Income Tax Returns
CCI dismisses Meru’s ‘dominant position’ complaint against Uber(22.12.2015)
The Competition Commission of India rejected Meru Travel Solutions’ (owner of Meru Cabs) complaint against Uber for holding a dominant position in the.....
Tags : Radio taxi, dominant position, Kolkata, meru, uber
Govt: Composition Dealers Need Not Furnish Details of Inward Supplies(18.04.2018)
Finance Ministry has clarified that Composition Dealers need not furnish details of inward supplies from registered supplier in FORM GSTR – 4.
Tags : Goods and Services Tax
Supreme Court Says Meal Vouchers Shouldn’t Be Taxed(10.12.2015)
Supreme Court has ruled that meal vouchers are not ‘goods’ for the purpose of levy of Octroi or Local Body Tax (LBT) and that the company issuing such.....
Tags : Supreme Court , Meal Vouchers, Octroi or Local Body Tax (LBT)
No Sales Tax on Drugs, Med., Equipment Used in Course of Treatment at Hospital: Sales Tax Tribunal(18.12.2017)
Maharashtra Sales Tax Tribunal has ruled that no sales tax can be levied on drugs, medicines, stents and other goods used in the course of medical tre.....
Tags : Maharashtra Sales Tax Tribunal
CBIC Notifies Procedure for Refund of Excise Duty on Purchase of Petrol or Diesel(12.11.2021)
Central Board of Indirect Taxes and Customs (CBIC) has notified the Procedures for a refund of excise duty on the purchase of petrol or diesel or fuel.....
Tags : Central Board of Indirect Taxes and Customs, Refund of Excise Duty on Purchase of Petrol or Diesel
CBDT Issues New Income Tax Reporting Norms for High Value Transactions(04.01.2016)
Central Board of Direct Taxes (CBDT) has notified norms under which cash receipts and high value transactions beyond a certain threshold will have to.....
Tags : Central Board of Direct Taxes, High Value Transactions
Colorado Supreme Court Upholds Legality of Taxes for Special Districts(24.04.2018)
Colorado Supreme Court has upheld the constitutionality of a state law that added sales taxes to some items to benefit public transportation and cultu.....
Tags : Colorado Supreme Court, Sales Tax
Pay IT dues in advance at RBI or authorised bank branches(15.02.2016)
The Reserve Bank of India has authorized twenty nine agency banks to accept payments of income tax. The move hopes to reduce the heavy rush for remitt.....
Tags : Income tax, payment, agency banks, march
CBDT: Sebi-Registered FPIs get I-T Filing Relief(11.12.2015)
Central Board of Direct Taxes (CBDT) has clarified that incomplete or deficient returns filed by Foreign Portfolio Investors (FPIs) would not be treat.....
Tags : Central Board of Direct Taxes , Foreign Portfolio Investors
GST Council Clears E-Bill Mechanism For Transfer of Goods(18.12.2017)
GST Council has decided to implement the e-way bill mechanism throughout the country by June 1 after reviewing the readiness of IT network. Under the .....
Tags : Goods and Service Tax
CBIC launches Digital Application for Scheduling of Examination of Cargo for Traders(12.11.2021)
Central Board of Indirect Taxes and Customs has launched an online facility for scheduling examination of Import cargo with the aim of minimizing the .....
Tags : Central Board of Indirect Taxes and Customs, Examination of Cargo for Traders
CBEC Releases Format for Filing Anti-Profiteering Application(07.12.2017)
Central Board of Excise and Customs has released the format for filing of Anti-Profiteering application under the Goods and Services Tax (GST) law.
Tags : Goods and Service Tax
TDF Forms Not Required for Inter-State Supply of Goods: Allahabad High Court(24.04.2018)
Allahabad High Court has held that T.D.F. forms are not required to be carried as the Central Government, who is the only authority empowered to presc.....
Tags : Goods and Services Tax
Delhi HC Asks Director General of Income Tax to Resolve Glitches in Income Tax Portal(31.08.2021)
Delhi High Court has asked the Director General of Income Tax to resolve the glitches in the income tax portal while observing that the new software s.....
Tags : Delhi High Court, Glitches in Income Tax Portal
Supreme Court Denies Relief to Suspended Senior IT Official in DA Case(15.02.2018)
Supreme Court has refused to interfere with the time frame fixed by the Uttarakhand High Court for disposal of a disproportionate asset case against a.....
Tags : Supreme Court, Income Tax
AOs to not issue penalty notices under Sections 271D,E of IT Act(26.04.2016)
The Central Board of Direct Taxes set forth a “Departmental View” to assuage conflicting notions on the limitation for imposition of penalty under Sec.....
Tags : income tax, penalty notice, limitation
ITAT, Mumbai: Taxpayer Can Opt a Method Resulting in Lowest Tax Liability(19.03.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that if there exist two methods for tax payment, the Assessee can opt the method which would res.....
Tags : Income Tax Appellate Tribunal, Lowest Tax Liability
CESTAT, Delhi Quashes Service Tax Commissioner Order Confirming Recovery of CENVAT Credit(26.08.2021)
Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Delhi has quashed the Service Tax Commissioner’s Order confirming recovery of CENVAT cre.....
Tags : Customs, Excise, and Service Tax Appellate Tribunal, Order Confirming Recovery of CENVAT Credit
GST: ‘Way Bill’ Mandatory for Intra-State Movement of Goods in Telangana(12.02.2018)
State Government of Telangana has notified the document known as “Way Bill” which should be issued by the registered person for intra-State movement o.....
Tags : Goods and Services Tax
Comments invited on minimum alternate tax report(28.04.2016)
The Central Board of Direct Taxes is receiving comments on the recommendations of the Committee on Minimum Alternate Tax for Indian Accounting Standar.....
Tags : minimum alternate tax, company, ind as
ITAT, Mumbai: No Penalty If Non-Furnishing of Tax Audit Report was Due to Bona Fide Reasons(18.03.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that the penalty under Section 271B of the Income Tax Act, 1961 is not leviable if there are bon.....
Tags : Income Tax Appellate Tribunal, Non-furnishing of Tax Audit Report
Bombay HC Rejects Petition Challenging Show Cause Notice Issued By Income Tax Department(20.12.2021)
Bombay High Court has rejected a petition filed by Maharashtra Cabinet Minister Chhagan Bhujbal challenging a show cause notice issued by the Income T.....
Tags : Bombay High Court, Show Cause Notice Issued By Income Tax Department
GST: Rajasthan Govt Notifies E-Way Bill(20.12.2017)
Rajasthan State Government has notified the Electronic Bill under the Goods and Services Tax (GST).
Tags : Goods and Service Tax
Government Notifies that Services Provided by OC Members to RBI is Subject to GST under RCM(17.10.2017)
Central Government has notified that Goods and Services Tax (GST) is payable on supply of services provided by Overseeing Committee (OC) members to RB.....
Tags : Goods and Services Tax, reverse charge mechanism
Adoption Fees Received From Adoptive Parents by Trust Exempted From GST: AAR Maharashtra(01.11.2019)
Authority of Advance Ruling (AAR), Maharashtra has ruled that, Goods and Services Tax (GST) is exempted on Adoption Fees received from Adoptive parent.....
Tags : Authority of Advance Ruling, Goods and Services Tax, Adoption Fees
ITAT, Pune Allows Claim for Set-off of Loss by Husband Invested in Wife’s Business(30.01.2020)
Income Tax Appellate Tribunal, Pune has held that the wife’s separate income can be clubbed into husbands total income and in the case of any loss inc.....
Tags : Income Tax Appellate Tribunal, Clubbing of Husband and Wife's Incomes
Tax Arrears of Deceased Assessee Can’t be Recovered Out of Wife's Personal Property: Gujarat HC(23.01.2018)
Gujarat High Court has said that Tax Arrears of a deceased assessee cannot be recovered out of the personal properties of wife.
Tags : Gujarat High Court, Income Tax
Govt Notifies CGST (Fourteenth Amendment) Rules, 2017(02.01.2018)
Government has notified Central Goods and Services Tax (Fourteenth Amendment) Rules, 2017, according to which Unique Identity Number in accordance wit.....
Tags : Goods and Service Tax
ITAT, Ahmedabad: Mere Change of Opinion Cannot be Ground Invoking Revisional Jurisdiction(24.01.2022)
Income Tax Appellate Tribunal (ITAT), Ahmedabad, has held that a mere change of opinion cannot be a ground for invoking revisional jurisdiction under .....
Tags : Income Tax Appellate Tribunal, Revisional Jurisdiction
CBDT Extends Last date of Payment Under Vivad se Vishwas(02.09.2021)
Central Board of Direct Tax (CBDT) has notified the extension of the last date of payment under Vivad se Vishwas which was earlier extended to 31st Au.....
Tags : Central Board of Direct Tax, Last date of Payment Under Vivad se Vishwas
GSTO/AC Authorized to Process Refund Claims Under Delhi GST Act(16.02.2018)
State Government of Delhi has assigned Assistant Commissioner and the Goods and Services Tax Officer (GSTO) to process the refund claims under the Del.....
Tags : Goods and Services Tax
Proceeds from unlisted share sale to default to ‘Capital Gain’ head(05.05.2016)
The Central Board of Direct Taxes directed its offices that income from transfer of unlisted shares irrespective of period of holding would be taxable.....
Tags : Unlisted shares, sale, capital gain, income tax
SC Stays Orders of Kerala & Allahabad HCs Restraining Centre from Recovering Tax(20.03.2020)
Supreme Court has stayed the general orders passed by the High Courts of Allahabad and Kerala which restrained the Centre from recovering revenue dues.....
Tags : Supreme Court, High Court Orders on Recovering Tax
GSTN Invites Interested and Qualified Companies for E-Invoice Registration Partner(29.12.2021)
Goods and Service Tax Networks (GSTN) has invited interested and qualified companies to become E-Invoice Registration Partner (IRP), the registrations.....
Tags : Goods and Service Tax Networks, E-Invoice Registration Partner
Allahabad HC Put Stay on Notification on Service Tax on Lawyers(19.04.2016)
Allahabad High Court has put stay on notification issued by Central Board of Excise and Customs (CBEC), imposing service tax on senior advocates. This.....
Tags : Allahabad High Court, CBEC, service tax
Govt: No GST on Services Supplied to Nepal Against Payment in Indian Currency(31.10.2017)
Central Government has notified exemption to services supplied to Nepal where payments are made in Indian currency to the Indian service providers und.....
Tags : Goods and Services Tax (GST), One-Nation_One-Tax
ITAT: Royalty from Operator Agreement not Chargeable to Income Tax Under Indo-US Tax Treaty(30.11.2021)
Income Tax Appellate Tribunal (ITAT), Delhi has held that royalty from Operator agreement not chargeable to Income Tax under Indo-US Tax Treaty.
Tags : Income Tax Appellate Tribunal, Royalty from Operator Agreement
Gujarat Exempts Intra-State Supply of Goods from E-Way Bill(30.01.2018)
State Government of Gujarat has exempted almost all intra-State supply of goods from the generation of e-way bill under the Goods and Services Tax Reg.....
Tags : Goods and Services Tax