Report on Lack of AC, Drinking Water and WiFi at DU Law Faculty Sought by Delhi High Court  ||  All. HC: DCP Pulled Up for Directing Further Investigation Without Leave of the Magistrate  ||  Kerala HC: Husband Acquitted u/s 304B IPC Can be Held Guilty u/s 498A IPC if Facts Permit  ||  Karnataka Prohibition of Violence Against Advocates Act, 2023 Comes Into Effect From 10th June, 2024  ||  Karnataka HC: PIL Seeking Declaration that Temples are Not Public Authorities, Dismissed  ||  Bom. HC: Karan Johar Files Suit Against Makers of the Film “Shaadi Ke Director Karan Aur Johar”  ||  Mad. HC: Bar Associations to Pay 15000 to 20,000 to Junior Lawyers Practicing in State  ||  Kerala High Court: E-Toilets to be Build for Flood Affected Tribal Families  ||  Amalgamation of Air Asia With Air India Express Approved by NCLT  ||  SC: Accused Refusing to Undergo Medical Examination Amounts to Non-Cooperation With Investigation    

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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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 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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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



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,