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Taxation

Hot Off The PressNewsTaxation

Budget 2021- 22 | Voluntary Scrappage Policy: Government’s Sword to cut the Air Pollution

While the Finance Minister, presented the Union Budget, 2021-22 today, the most talked about was the Voluntary Scrappage Policy even before the

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Published on February 1, 2021February 2, 2021By Bhumika Indulia
1 Comment2915 views
Business NewsHot Off The PressNewsTaxation

Union Budget 2021-22 | Proposals established on 6 Pillars; Tax Relief for Senior Citizens above 75 years of age [Read the live Updates]

Finance Minister, Nirmala Sitharaman presented the Union budget 2021-22 in the Parliament Today. 6 Pillars: Health and Well-Being Physical and Financial capital

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Published on February 1, 2021February 1, 2021By Bhumika Indulia
5 Comments4193 views
Hot Off The PressNewsTaxation

Extension of time limits for income tax returns

In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the

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Published on December 31, 2020December 31, 2020By Bhumika Indulia
Leave a comment2604 views
Income Tax Appellate Tribunal
Case BriefsTaxationTribunals/Commissions/Regulatory Bodies

ITAT | Will the benefit of CBDT Instruction No. 1916 take away the benefit of explained jewellery acquired by an assessee? Tribunal explains

Income Tax Appellate Tribunal (ITAT), Jaipur: The Bench of Vijay Pal Rao, JM and Vikram Singh Yadav, AM, held that, the benefit of CBDT Instruction

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Published on December 18, 2020December 25, 2020By Bhumika Indulia
1 Comment6435 views
Legislation UpdatesNotificationsTaxation

CBDT simplifies the process of assessment in respect of Startups

The Finance Ministry has simplified the process of assessment in the case of Startup entities. In cases where scrutiny assessments of Startup

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Published on August 19, 2019August 20, 2019By Bhumika Indulia
Leave a comment1879 views
Legislation UpdatesNotificationsTaxation

CBDT takes steps to ensure transparency in Tax Administration by bringing in concept of DIN

With a view to bringing greater transparency in the functioning of the tax-administration and improvement in service delivery, almost all notices and

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Published on August 16, 2019August 23, 2019By Bhumika Indulia
Leave a comment2201 views
Taxation

Revised Double Taxation Avoidance Agreement between India and Kenya notified

The Double Taxation Avoidance Agreement (DTAA) between India and Kenya was signed and notified in 1985.  Subsequently, the DTAA was renegotiated and

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Published on February 26, 2018By Saba
Leave a comment3255 views
Taxation

Clarifications regarding GST on certain services issued

The Ministry of Finance has issued a clarification with regard to the following services approved by the GST Council in its 25th

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Published on February 15, 2018February 15, 2018By Saba
1 Comment3480 views
Taxation

No tax on Equity Share Transfers made before 31-03-2018: FAQs released on Taxation of Long Term Capital Gains proposed in Finance Bill, 2018 [Read FAQs]

The existing regime has led to significant erosion in tax base resulting in revenue loss and the problem has been further compounded

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Published on February 8, 2018By Saba
Leave a comment3380 views
Taxation

CBDT: No coercive recovery from Start Ups for addition on Share Capital Valuation issue

Section 56(2)(viib) of the Income-tax Act, 1961 (Act) provides that where a closely held company issues its shares at a price which

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Published on February 7, 2018By Saba
Leave a comment3029 views
Taxation

AS 22 or Indian AS 12 not applicable to Government Company

S.O. 529(E).— In exercise of the powers conferred by sub-section (6) of Section 129 of the Companies Act, 2013 (18 of 2013),

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Published on February 7, 2018By Saba
Leave a comment2560 views
Hot Off The PressNewsTaxation

GST and IGST rates of specific goods reduced

As per discussions held in the 22nd GST Council Meeting held under Chairmanship of Union Finance Minister Shri Arun Jaitley on 6th

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Published on October 7, 2017By Saba
1 Comment4186 views
Hot Off The PressNewsTaxation

Clarification on payment of service tax in transitional period

Certain transitional issues arising with respect to payment of service tax after 30th June 2017 have been clarified by CBEC vide circular

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Published on September 29, 2017By Saba
Leave a comment3841 views
Hot Off The PressNewsTaxation

Late fee waived for all tax-payers who could not file GSTR 3B for the month of July 2017 

The Goods and Services Tax (GST) tax was introduced on 1st of July 2017.  The last date for payment of GST for the

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Published on September 4, 2017By Saba
Leave a comment3702 views
NewsTaxation

Roll out of GST to lower tax burden on packaged cement, medicaments, smart phones, medical devices, surgical instruments

The roll out of Goods and Services (GST) Tax will bring benefits to the consumers due to reduced tax rates on various

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Published on May 25, 2017By Saba
Leave a comment3577 views
Case BriefsSupreme CourtTaxation

Payments made to sub-contractor not to be included while calculating the turnover under Section 6-B, Karnataka Sales Tax Act, 1957

Supreme Court: The important question before the Court was that for calculating the turnover for the purpose of payment of turnover tax

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Published on September 6, 2016January 27, 2017By Sucheta
Leave a comment5155 views
Case BriefsSupreme CourtTaxation

Deputy Director of Income Tax not an appellate authority for decisions/orders of Income Tax Officers

Supreme Court: Deciding the question that whether the Deputy Director of Income Tax was competent to make complaint regarding commission of offence

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Published on September 3, 2016January 21, 2017By Sucheta
Leave a comment4772 views
Case BriefsHigh CourtsTaxation

Statutory machinery clearly computing all components of the levy is a precondition to levying of tax

Delhi High Court:  A Division Bench of the Delhi High Court comprising of S.Muralidhar and Vibhu Bakhru, JJ. ruled on whether ‘service

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Published on August 23, 2016September 17, 2016By Sucheta
Leave a comment4000 views
Case BriefsSupreme CourtTaxation

Commercial goods without change of their identity as such remain commercially the same goods which cannot be taxed again

Supreme Court: In the matter where the question for consideration before the bench of Dr. A.K. Sikri and R.F. Nariman, JJ was

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Published on August 20, 2016September 13, 2016By Sucheta
Leave a comment4037 views
Case BriefsSupreme CourtTaxation

Buildings constructed from the year 1990-1993 entitled to tax exemption as per S. 3A of the Kerala Buildings Act, 1993

Supreme Court: Deciding on the issue that whether the State Government may deny the tax exemption which was promised earlier, the bench

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Published on May 19, 2016May 31, 2016By Sucheta
Leave a comment4176 views

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