Day: May 19, 2023
A sustainable growth rate: At what level will India have no output gap?
Clipped from: https://www.business-standard.com/opinion/columns/a-sustainable-growth-rate-at-what-level-will-india-have-no-output-gap-123051900902_1.html Domestic commentators need to engage with the issue of growth rate at which India will have no “output gap” – is it really
Reserve Bank of India to withdraw Rs 2,000 currency notes from circulation
Clipped from: https://www.business-standard.com/finance/news/reserve-bank-of-india-to-withdraw-rs-2-000-currency-note-from-circulation-123051900976_1.html The RBI has advised banks to stop issuing Rs 2,000 denomination banknotes with immediate effect Listen to This Article The Reserve Bank of
India cannot afford to let AI disrupt the labour market
Clipped from: https://www.thehindubusinessline.com/opinion/india-cannot-afford-to-let-ai-disrupt-the-labour-market/article66867298.ece Uncontrolled usage of AI across industries will result in massive job losses. This will not bode well for a labour surplus country like
Notice u/s 148A(b) received on Date of Reassessment: Delhi HC directs Re Adjudication
Read More: https://www.taxscan.in/notice-u-s-148ab-received-on-date-of-reassessment-delhi-hc-directs-re-adjudication/278877/ Clipped from: https://www.taxscan.in/notice-u-s-148ab-received-on-date-of-reassessment-delhi-hc-directs-re-adjudication/278877/ The Delhi High Court directed re-adjudication since the notice under section 148A(b) of the Income Tax Act, 1961 was received on
ITAT quashes Assessment Order framed u/s 143(3) of Income Tax Act in Name of Non-Existent Entity
Read More: https://www.taxscan.in/itat-quashes-assessment-order-framed-u-s-1433-of-income-tax-act-in-name-of-non-existent-entity/278645/ Clipped from: https://www.taxscan.in/itat-quashes-assessment-order-framed-u-s-1433-of-income-tax-act-in-name-of-non-existent-entity/278645/ By Aparna. M – On May 18, 2023 9:30 am – 2 mins read The Income Tax Appellate Tribunal (ITAT) of Ahmedabad bench quashed the assessment order framed under
Addition of sales reversal entry as unexplained expenditure is unjustified
Read more at: https://taxguru.in/income-tax/addition-sales-reversal-entry-unexplained-expenditure-unjustified.htmlCopyright © Taxguru.in Clipped from: https://taxguru.in/income-tax/addition-sales-reversal-entry-unexplained-expenditure-unjustified.html Chotanagpur Petroleum Agency Vs PCIT (ITAT Kolkata) ITAT Kolkata held that addition of sales reversal entry alleging the
👍👍👍👍👍Section 271B Penalty Sustained even where Books of Accounts Not Maintained at all
Read more at: https://taxguru.in/income-tax/section-271b-penalty-sustained-books-accounts-maintained.htmlCopyright © Taxguru.in Clipped from: https://taxguru.in/income-tax/section-271b-penalty-sustained-books-accounts-maintained.html Rakesh Kumar Jha Vs ITO (ITAT Ranchi) Assessee has been running the business of imparting tuition classes. As
👍👍👍👍👍👍👍Capital Gain Tax Exemption–Part 2 Sale of Inherited Property
Read more at: https://taxguru.in/income-tax/capital-gain-tax-exemption-sale-inherited-property.htmlCopyright © Taxguru.in Clipped from: https://taxguru.in/income-tax/capital-gain-tax-exemption-sale-inherited-property.html Capital Gain Tax Exemption – Part 2 Sale Of Inherited Property 1 Part 1 of the series Capital Gain
Remittances for travel and incidental expenses related to education, medical treatment to attract same TCS rate as that on education and medical treatment
Clipped from: https://www.thehindubusinessline.com/economy/remittances-for-travel-and-incidental-expenses-related-to-education-medical-treatment-to-attract-same-tcs-rate-as-that-on-education-and-medical-treatment/article66866655.ece Rates of TCS vary between 0.5 to 20 per cent and aAn Indian resident can remit up to $2,50,000 under LRS Parents who
Liberalised Remittance Scheme not to cover business visits of employees abroad: Finmin
Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-economy/liberalised-remittance-scheme-not-to-cover-business-visits-of-employees-abroad-finmin/article66867188.ece Payment made in dollar using card in India to attract TCS at 20% Making online purchasesin India from companies located abroad where money
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