Clipped from: https://taxguru.in/income-tax/hc-explains-provisions-section-148a-income-tax-act-1961.html?utm_source=feedburner&utm_medium=email Abdul Majeed Vs ITO (Rajasthan High Court) High Court held that while passing an order under Section 148A of the Act, the authority
Day: July 20, 2022
*******FAQ’s on AIS (Annual Information Statement)–TAXGURU.IN
lipped from: https://taxguru.in/income-tax/faqs-ais-annual-information-statement.html?utm_source=feedburner&utm_medium=email Q-1 What is Annual Information Statement (AIS)? Ans. Annual Information Statement (AIS) is comprehensive view of information for a taxpayer displayed in Form
*******Extended period of limitation cannot be invoked in absence of willful misstatement/suppression of fact–TAXGURU.IN
Clipped from: https://taxguru.in/excise-duty/extended-period-limitation-invoked-absence-wilful-misstatement-suppression-fact.html?utm_source=feedburner&utm_medium=email Commissioner of Service Tax Vs Surya Vistacom Private Limited (Calcutta High Court) Held that the conclusion that mere non-payment of duties is not
*******Demand of service tax, merely on the basis of TDS/ 26AS statement, unsustainable–TAXGURU.com
Clipped from: https://taxguru.in/service-tax/demand-service-tax-merely-basis-of-tds-26as-statement-unsustainable.html?utm_source=feedburner&utm_medium=email Forward Resources Pvt. Ltd. Vs C.C.E. (CESTAT Ahmedabad) Held that the demand of services tax is not sustainable on the basis of TDS /26AS statements.
*Rupee at 80: How top Indian companies hedged themselves for dollar | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/rupee-at-80-how-top-indian-companies-hedged-themselves-for-dollar-122071900335_1.html?code=NTM4OTU9MTIyMDcxOTAwMzM1 Reliance Industries, the Tata group, Bharti Airtel, Aditya Birla among conglomerates that took forward positions Photo: Bloomberg Reliance Industries, the Tata group, Bharti Airtel and Aditya
Urban co-operative banks to have four-tiered regulatory framework: RBI | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/rbi-announces-four-tiered-regulatory-framework-for-urban-co-op-banks-122071901245_1.html?code=NTM4OTU9MTIyMDcxOTAxMjQ1 An expert committee, headed by former RBI deputy governor N S Vishwanathan, had made a host of recommendations for strengthening the UCBs Photo:
Rupee at 80 to the dollar: Forex deficit to hurt India Inc’s margins | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/rupee-at-80-to-the-dollar-forex-deficit-to-hurt-india-inc-s-margins-122071900359_1.html?code=NTM4OTU9MTIyMDcxOTAwMzU5 As the rupee touches the 80-mark against the dollar, this depreciation is likely to prove expensive for corporate India The Indian currency has
*Companies make over 25 kg packs to avoid 5% GST – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/cons-products/fmcg/companies-make-over-25-kg-packs-to-avoid-5-gst/articleshow/92989805.cms Synopsis The CBIC on Sunday clarified that pre-packaged food items weighing more than 25 kg in a single packet would be exempted from
*Infy, Tech Mahindra et al. have dipped their toes in metaverse waters. Can they cash in on the mania? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/prime/technology-and-startups/infy-tech-mahindra-et-al-have-dipped-their-toes-in-metaverse-waters-can-they-cash-in-on-the-mania/primearticleshow/92989378.cms SynopsisInfosys, Tech Mahindra have carved out special centres to cash in on the metaverse mania which promises to offer around 12% higher gross
RBI, Centre could take steps to halt currency slide – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/rbi-centre-could-take-steps-to-halt-currency-slide/articleshow/92991405.cms Synopsis This year, the rupee has fallen about 8% to breach the 80 mark to the dollar amid an unprecedented surge in the
Fuel Windfall Tax: India cuts windfall taxes on fuel exports as global prices fall – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/energy/oil-gas/india-cuts-windfall-taxes-on-fuel-exports-as-global-prices-fall/articleshow/92991503.cms Synopsis New Delhi reduced the windfall tax on diesel and aviation fuel shipments by Rs 2 a liter, and scrapped completely a Rs
Rupee may fall to 81 against US dollar amid widening trade deficit, risk-off sentiments and FII outflows | The Financial Express
Clipped from: https://www.financialexpress.com/market/rupee-may-fall-to-81-against-us-dollar-amid-widening-trade-deficit-risk-off-sentiments-and-fii-outflows/2598771/?ref=Must_Read The Indian Rupee depreciated further on Tuesday to breach the psychological mark of 80 for the first time ever. Amid tightening monetary conditions
The rupee at 80: On the CAD front, the good news is RBI’s plan to permit invoicing in rupees | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/the-rupee-at-80-on-the-cad-front-the-good-news-is-rbis-plan-to-permit-invoicing-in-rupees/2599360/ Another point on the reserves is that they comprise FCA plus about $40 billion of gold, about $18 billion of SDR and $5
Tax Talk: Know when income tax return form ITR-1 is not for you | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-know-when-income-tax-return-form-itr-1-is-not-for-you/2599307/ If an assessee uses the wrong ITR form, the return file will be considered a defective return and may trigger an I-T notice.
Assuring health for 1.4 billion Indians: Robust public health system is the need of the hour | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/assuring-health-for-1-4-billion-indians-robust-public-health-system-is-the-need-of-the-hour/2599361/ Covering the needs of the world’s largest population calls for a robust public health system. Ayushman Bharat has elements of the health system
The rupee challenge: RBI need not defend rupee and should hike rates only to the extent needed to tame inflation | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/the-rupee-challenge-rbi-need-not-defend-rupee-and-should-hike-rates-only-to-the-extent-needed-to-tame-inflation/2599335/ RBI believes the rupee is fairly valued and would not be uncomfortable with the rupee depreciating to levels just beyond the 80 mark,
Weak rupee to raise borrowing costs for companies, say economists | The Financial Express
Clipped from: https://www.financialexpress.com/industry/weak-rupee-to-raise-borrowing-costs-for-companies-say-economists/2599522/ The RBI has stated that while it’s not targeting any particular level to rein in the rupee, it will ensure there is no
*How an email set off alarm bells at Sebi – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/how-an-email-set-off-alarm-bells-at-sebi/articleshow/92966571.cms SynopsisOn Saturday, Sebi issued a press release saying it had recently noted a “cyber security incident” in its email system, which was undergoing
Nirmala Sitharaman: FM Nirmala Sitharaman clarifies on GST rates on certain items, says decision taken to curb tax leakage – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/fm-nirmala-sitharaman-clarifies-on-gst-rates-on-certain-items-says-decision-taken-to-curb-tax-leakage/articleshow/92979224.cms Synopsis Finance Minister Nirmala Sitharaman on Tuesday took to Twitter to clarify the decisions taken by the GST Council in its 47th meeting.
Rupee News: Rupee @ 80: How worried should you be? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/indicators/rupee-80-how-worried-should-you-be/articleshow/92971077.cms Synopsis The Rupee breaching the psychological mark of 80 on Tuesday for the first time ever has set off alarms if this slump
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