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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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
Continue readingAmendment approved by the Cabinet to ease exchange of information between India and Israel on tax matters
On 7-10-2015, the Union Cabinet approved the protocol amending the Convention and the Protocol between India and Israel for avoidance of double
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No service tax can be levied on indivisible Works Contracts prior to June 1, 2007
Supreme Court: The Bench comprising of A.K. Sikri and R.F. Nariman JJ. held that Works Contract Service was not a taxable service
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List of Agreements/ MoU’s signed between India and Korea
On 18.05.2015, various agreements/ MoU’s were signed between India and Korea. They are as follows: Agreement for the Avoidance of Double Taxation
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Payment received by the members of religious congregations in their individual capacity is liable for tax deduction at source
Kerala High Court: Dealing as to whether the payments by way of salary/ pension made by the Government to the members of
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