Clipped from: https://www.taxscan.in/statement-recorded-under-sec-133a-by-themselves-have-no-evidentiary-value-itat-upholds-deletion-of-additional-income/162922/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Sec%20133A Top Stories By Jwala K.P – On March 22, 2022 3:06 pm The Indore Bench of The Income Tax Appellate Tribunal ( ITAT ) has held that statement
Month: March 2022
No Addition on Income when the Assessee has Fully Explained and Substantiated Sources with the Documentary Evidences: ITAT–TAXSCAN
Clipped from: https://www.taxscan.in/no-addition-on-income-when-the-assessee-has-fully-explained-and-substantiated-sources-with-the-documentary-evidences-itat/162901/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Documentary%20Evidence Top Stories By Jwala K.P – On March 22, 2022 3:33 pm The Indore Bench of The Income Tax Appellate Tribunal ( ITAT ) has held that no
88% Indians use phone before bedtime, 59% went to bed past 11 pm: Wakefit survey – BusinessToday
Clipped from: https://www.businesstoday.in/latest/trends/story/88-indians-use-phone-before-bedtime-59-go-to-bed-past-11-pm-wakefit-survey-327092-2022-03-23 The survey titled ‘Wakefit’s Great Indian Sleep Scorecard (GISS) 2022’ showed that one in four Indians suffer from erratic sleep patterns. Around 38%
Dept failed to consider Reply to Income Tax Notice: Delhi High Court quashes Penalty
Clipped from: https://www.taxscan.in/dept-failed-to-consider-reply-to-income-tax-notice-delhi-high-court-quashes-penalty/163210/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Income%20Tax%20Notice Top Stories By Taxscan Team – On March 23, 2022 6:30 am The Delhi High Court has ruled that a penalty order passed by the income-tax authority under
CBIC issues SoP for Scrutiny of GST Returns for FY 2017-18 and 2018-19–TAXSCAN
Clipped from: https://www.taxscan.in/cbic-issues-sop-for-scrutiny-of-gst-returns-for-fy-2017-18-and-2018-19/163269/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=GST%20Returns Top Stories By Rasheela Basheer – On March 23, 2022 9:07 am The Central Board of Indirect Taxes and Customs (CBIC) has issued a standard operating procedure (SoP) for the
Expenses towards Gifts purchased for Sales Promotion allowable as Income Tax Deduction Even If List of Recipients are not provided: ITAT–TAXSCAN
lipped from: https://www.taxscan.in/expenses-towards-gifts-purchased-for-sales-promotion-allowable-as-income-tax-deduction-even-if-list-of-recipients-are-not-provided-itat/163215/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=gift Top Stories By Rasheela Basheer – On March 23, 2022 7:20 am The Ahmedabad bench of the ITAT has held that the expenses towards gifts purchased
Sri Lanka nears crisis | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/sri-lanka-nears-crisis-122032101382_1.html More help needed for the island nation’s faltering economy Sri Lanka’s education authority announced on Friday that school examinations scheduled for this week
‘Return of advance to foreign buyer after 12 months requires RBI nod’ | Business Standard News
Clipped from: https://www.business-standard.com/article/sme/return-of-advance-to-foreign-buyer-after-12-months-requires-rbi-nod-122032100820_1.html Therefore, please send a suitable request to RBI, through your bank, explaining the reasons for the failure to export and the delay in
Russia-Ukraine war: High input costs forcing automakers to walk a tightrope | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/russia-ukraine-war-high-input-costs-forcing-automakers-to-walk-a-tightrope-122032101511_1.html The second of the five-part series looks at automakers’ concern over any further price hike that may dent demand in segments like two-wheelers
RBI continues to support growth, rupee: Governor Shaktikanta Das | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/rbi-continues-to-support-growth-rupee-rbi-governor-shaktikanta-das-122032101466_1.html India comfortably placed to deal with spill-overs from Ukraine crisis, says Das RBI Governor Shaktikanta Das | Photo: Kamlesh Pednekar After resisting the
Govt expects to launch LIC IPO in 2-3 weeks, feels mkt conditions improving | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/govt-expects-to-launch-lic-ipo-in-2-3-weeks-feels-mkt-conditions-improving-122032101475_1.html Feels market conditions improving, but still keeping a watch; updated DRHP filed with Sebi The government is awaiting approvals from Sebi, and will
Pizza Topping Tax: Bibek Debroy decodes the curious case of tax on pizza toppings – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-commentary/bibek-debroy-decodes-the-curious-case-of-tax-on-pizza-toppings/articleshow/90340593.cms Synopsis What is the GST rate on pizzas? There isn’t one. That’s the point. The GST rate on pizza bread – note the
How to calculate income tax liability under new tax regime for FY 2021-22 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-calculate-income-tax-liability-under-new-tax-regime/articleshow/90052370.cms Synopsis As individuals are required to choose between old and new tax regimes, it is important to know how to calculate the income
Optimising GST to Make It Deliver – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/optimising-gst-to-make-it-deliver/articleshow/90361307.cms Synopsis The move towards a revenue-neutral rate is overdue and the collection forgone because of external events exerting a pressure on prices will
Govt to unveil plan to boost PSU general insurers – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/govt-to-unveil-plan-to-boost-psu-general-insurers/articleshow/90364296.cms Synopsis The government had proposed a ₹4,950-crore capital infusion in state-run general insurers in the third supplementary demand of grants earlier this month.
Service Tax Demand cannot be based on Statement recorded u/s 132 of Income Tax Act: CESTAT–TAXSCAN
Clipped from: https://www.taxscan.in/service-tax-demand-cannot-be-based-on-statement-recorded-u-s-132-of-income-tax-act-cestat/162293/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Service%20Tax%20Demand Top Stories By Rasheela Basheer – On March 21, 2022 6:03 am While quashing a service tax demand, the CESTAT, Ahmedabad bench has held that the
Working to improve tax literacy in country for widening taxpayer net, says CBDT Chairman – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/working-to-improve-tax-literacy-in-country-for-widening-taxpayer-net-says-cbdt-chairman/articleshow/90333037.cms Synopsis The CBDT chief was asked about the steps being taken by the taxman to widen and deepen the tax base in the
crypto tax: Govt working on classification of cryptocurrency under GST law – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/govt-working-on-classification-of-cryptocurrency-under-gst-law/articleshow/90333798.cms Synopsis GST officers are of the view that cryptos, by nature, are similar to lottery, casinos, betting, gambling, horse racing, which have 28
Income Tax Practitioner misled Assessee in making False Refund: ITAT deletes Penalty against Assessee [Read Order]–TAXSCAN
Read More: https://www.taxscan.in/income-tax-practitioner-misled-assessee-in-making-false-refund-itat-deletes-penalty-against-assessee/162053/ Clipped from: https://www.taxscan.in/income-tax-practitioner-misled-assessee-in-making-false-refund-itat-deletes-penalty-against-assessee/162053/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Income%20Tax%20Practitioner Top Stories By Rasheela Basheer – On March 18, 2022 6:16 pm The Income Tax Appellate Tribunal (ITAT) Chennai bench has deleted penalty under
Mere Digital Signing on Re-Assessment Notice won’t be Valid: Allahabad High Court–TAXSCAN
Clipped from: https://www.taxscan.in/mere-digital-signing-on-re-assessment-notice-wont-be-valid-allahabad-high-court/162133/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Digital%20Signing Top Stories By Rasheela Basheer – On March 18, 2022 8:10 pm A division bench of the Allahabad High Court has held that mere digitally signing
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