https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Clipped from: https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Most players such as Axis Bank, Kotak Mahindra Bank and HDFC Bank have reported an increase in the turnover rates Employee turnover
Day: July 20, 2023
Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC
Read More: https://www.taxscan.in/only-profit-element-of-bogus-purchase-can-be-added-to-taxable-income-under-income-tax-act-when-assessee-reconciled-the-stock-bombay-hc/301700/ Clipped from: https://www.taxscan.in/only-profit-element-of-bogus-purchase-can-be-added-to-taxable-income-under-income-tax-act-when-assessee-reconciled-the-stock-bombay-hc/301700/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Only%20Profit%20Element%20of%20Bogus%20Purchase%20can%20be%20Added%20to%20Taxable%20Income%20Under%20Income%20Tax%20Act%20when%20Assessee%20Reconciled%20the%20Stock:%20Bombay%20HC The Bombay High Court has held that only the profit element of a bogus purchase can be added to taxable income
Mere incorrect claims in ITR not amounts to concealment of income
https://taxguru.in/income-tax/incorrect-claim-deduction-expenses-itr-amount-concealment-income-furnishing-inaccurate-particulars-itat-sets-nfac-order.html Clipped from: https://taxguru.in/income-tax/incorrect-claim-deduction-expenses-itr-amount-concealment-income-furnishing-inaccurate-particulars-itat-sets-nfac-order.html Kongnoli Sarva Seva Society Ltd Vs ITO (ITAT Pune) Introduction: The Income Tax Appellate Tribunal (ITAT) in Pune recently delivered an impactful ruling
👍👍👍👍👍👍👍Applicability of Tax Audit and Inter-link between Section 44AB, 44AD & 44ADA
https://taxguru.in/income-tax/applicability-tax-audit-inter-link-section-44ab-44ad-44ada.html Clipped from: https://taxguru.in/income-tax/applicability-tax-audit-inter-link-section-44ab-44ad-44ada.html Applicability of Tax Audit and Inter link between section 44AB vis-à-vissection 44AD and 44ADA of the Income Tax Act[Relevant for A.Y. 2023-24]
Cash deposit against Sum received from mother-in-law – ITAT directs re-adjudication
https://taxguru.in/income-tax/cash-deposit-sum-received-mother-in-law-itat-directs-re-adjudication.html Clipped from: https://taxguru.in/income-tax/cash-deposit-sum-received-mother-in-law-itat-directs-re-adjudication.html Pawanveer Singh Vs ITO (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT) of Delhi recently delivered a crucial order in the Pawanveer
TDS Mismatch in 26AS and Profit & Loss Account: ITAT Orders Reassessment on Lack of Substantiating Evidence
Clipped from: https://www.taxscan.in/tds-mismatch-in-26as-and-profit-loss-account-itat-orders-reassessment-on-lack-of-substantiating-evidence/301323/ The Income Tax Appellate Tribunal of Kolkata Bench has issued a directive for the reassessment of a case where there was a discrepancy between the
GST Registration Cancellation Order not issued by Proper Officer: Delhi HC directs to Approach Authorities for Re-examination
Clipped from: https://www.taxscan.in/gst-registration-cancellation-order-not-issued-by-proper-officer-delhi-hc-directs-to-approach-authorities-for-re-examination/301291/ A Division Bench of Delhi High Court while entering a writ petition regarding the cancellation of the Goods and Services Tax (GST) Registration, directed the
AO Fails to Follow Procedures to Proceed Reassessment Proceedings under Income Tax Act; issued notices to different PAN Number: ITAT quashes notice u/s 148
Read More: https://www.taxscan.in/ao-fails-to-follow-procedures-to-proceed-reassessment-proceedings-under-income-tax-act-issued-notices-to-different-pan-number-itat-quashes-notice-u-s-148/301078/ Clipped from: https://www.taxscan.in/ao-fails-to-follow-procedures-to-proceed-reassessment-proceedings-under-income-tax-act-issued-notices-to-different-pan-number-itat-quashes-notice-u-s-148/301078/ The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the notice issued under Section 148 of the Income Tax Act, 1961 (the
👍👍👍👍👍👍👍NRIs can still file income tax return even if their PAN becomes inoperative
https://www.business-standard.com/finance/personal-finance/nris-can-still-file-income-tax-return-even-if-the-pan-becomes-inoperative-123071900268_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/nris-can-still-file-income-tax-return-even-if-the-pan-becomes-inoperative-123071900268_1.html Concerns have been raised by certain NRIs/ OCIs regarding their PANs becoming inoperative, although they are exempted from linking their PAN with
👍👍👍👍👍👍👍Consequence of failure to file deceased’s ITR: Penalties, interest, jail
https://www.business-standard.com/finance/personal-finance/consequences-of-failure-to-file-deceased-s-itr-penalties-interest-jail-123071900776_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/consequences-of-failure-to-file-deceased-s-itr-penalties-interest-jail-123071900776_1.html However, a legal heir’s liability is capped at the value of the inherited estate “The Sixth Sense” immortalised the phrase “I see
India will be shielded from risks of global slowdown: World Bank President
https://www.business-standard.com/economy/news/india-has-a-natural-cushion-against-global-slowdown-world-bank-chief-123071900900_1.html Clipped from: https://www.business-standard.com/economy/news/india-has-a-natural-cushion-against-global-slowdown-world-bank-chief-123071900900_1.html ‘India gets a lot of its GDP from domestic consumption’ Photo: Bloomberg Listen to This Article Amidst risk of a global slowdown
Some gambling firms masqueraded as gaming companies: Chandrasekhar
https://www.business-standard.com/india-news/some-gambling-firms-masqueraded-as-gaming-companies-chandrasekhar-123071901102_1.html Clipped from: https://www.business-standard.com/india-news/some-gambling-firms-masqueraded-as-gaming-companies-chandrasekhar-123071901102_1.html Union minister Rajeev Chandrasekhar on Wednesday said some gaming companies “gamed the system”, masqueraded as gaming companies to run gambling businesses or
Japan has immense opportunities for Indian apparel exporters: AEPC – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/japan-has-immense-opportunities-for-indian-apparel-exporters-aepc/article67096894.ece Clipped from: https://www.thehindubusinessline.com/economy/japan-has-immense-opportunities-for-indian-apparel-exporters-aepc/article67096894.ece “We hold a strong business opportunity in Japan reflected by the fact that China, which has been a dominant garment supplier to
Sixth round of India-EU FTA likely in August – The Hindu BusinessLine
https://www.thehindubusinessline.com/news/national/sixth-round-of-india-eu-fta-likely-in-august/article67097590.ece Clipped from: https://www.thehindubusinessline.com/news/national/sixth-round-of-india-eu-fta-likely-in-august/article67097590.ece Discussions could be around specific opening up of government procurement market The sixth round of discussions on India-European Union (EU) free trade agreement
The ‘discount’ games online sellers play – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/the-discount-games-online-sellers-play/article67098757.ece lipped from: https://www.thehindubusinessline.com/opinion/the-discount-games-online-sellers-play/article67098757.ece Offering discounts on inflated MRP to lure consumers should be construed as an act of price manipulation Online marketing or e-marketing has
The NITI Aayog and UNDP reports point to a qualified success in poverty reduction – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/editorial/the-niti-aayog-and-undp-reports-point-to-a-qualified-success-in-poverty-reduction/article67098010.ece Clipped from: https://www.thehindubusinessline.com/opinion/editorial/the-niti-aayog-and-undp-reports-point-to-a-qualified-success-in-poverty-reduction/article67098010.ece Poverty figures should be assessed carefully The recently released reports by NITI Aayog and the UNDP underscore India’s remarkable success in reduction
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