https://www.thehindubusinessline.com/money-and-banking/rbi-targets-10-lakh-cbdc-transactions-per-day-by-year-end-dy-guv-sankar/article67068620.ece Clipped from: https://www.thehindubusinessline.com/money-and-banking/rbi-targets-10-lakh-cbdc-transactions-per-day-by-year-end-dy-guv-sankar/article67068620.ece RBI is hoping to achieve this milestone by making CBDC interoperable with the UPI (Unified Payments Interface) system The Reserve Bank of
Month: July 2023
Uniform 28% GST on full face value of casino, online game, horse race bets – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/uniform-28-gst-on-full-face-value-in-online-gaming-casino-horse-racing/article67068855.ece Clipped from: https://www.thehindubusinessline.com/economy/uniform-28-gst-on-full-face-value-in-online-gaming-casino-horse-racing/article67068855.ece The Council recommended that amendments be made in the law to include online gaming and horse racing in Schedule III as taxable
NPAs, write-offs and recoveries – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/npas-write-offs-and-recoveries/article67068469.ece Clipped from: https://www.thehindubusinessline.com/opinion/npas-write-offs-and-recoveries/article67068469.ece Gross NPAs have fallen, but banks should not be complacent as fresh NPAs are emerging and recoveries are far from satisfactory There
GST Council decides to impose 28% tax on turnover of online gaming firms
https://www.business-standard.com/economy/news/gst-council-agrees-to-levy-28-tax-on-online-gaming-on-full-face-value-123071100783_1.html Clipped from: https://www.business-standard.com/economy/news/gst-council-agrees-to-levy-28-tax-on-online-gaming-on-full-face-value-123071100783_1.html Sitharaman said the tax will be levied on the entire value Finance Minister Nirmala Sitharaman with Revenue Secretary Sanjay Malhotra during the
👍👍👍👍👍Capital gain not computable on execution of sale deed in favour of daughter-in law
https://taxguru.in/income-tax/capital-gain-computable-execution-sale-deed-favour-daughter-in-law.html Clipped from: https://taxguru.in/income-tax/capital-gain-computable-execution-sale-deed-favour-daughter-in-law.html Hanuman Prasad Tambi Vs ITO (ITAT Jaipur) ITAT Jaipur held that capital gain not computable in respect of sale deed executed in
Appellate Authority Bound by Show Cause Notice Allegations: Calcutta High Court
https://taxguru.in/goods-and-service-tax/appellate-authority-bound-show-cause-notice-allegations-calcutta-high-court.html Clipped from: https://taxguru.in/goods-and-service-tax/appellate-authority-bound-show-cause-notice-allegations-calcutta-high-court.html Calcutta High Court holds Appellate Authority cannot travel beyond allegations made in Show Cause Notice and quashes order for rejection of refund
👍👍👍👍👍👍👍👍Reassessment proceedings in absence of adequate reasoning is erroneous
https://taxguru.in/income-tax/reassessment-proceedings-absence-adequate-reasoning-erroneous.html Clipped from: https://taxguru.in/income-tax/reassessment-proceedings-absence-adequate-reasoning-erroneous.html Anilaben Rohitbhai Modi Vs ITO (High Court Gujarat) Gujarat High Court held that in absence of adequacy of reasons and its relevancy
AI’s disruptive economic impact, an India check – The Hindu
https://www.thehindu.com/opinion/lead/ais-disruptive-economic-impact-an-india-check/article67064846.ece Clipped from: https://www.thehindu.com/opinion/lead/ais-disruptive-economic-impact-an-india-check/article67064846.ece With Artificial Intelligence (AI) becoming an integral part of the global economy, India should focus on education and training in AI, rather
Ministry of Corporate Affairs orders inspection of Byju’s account books – The Hindu BusinessLine
https://www.thehindubusinessline.com/news/education/ministry-of-corporate-affairs-orders-inspection-of-byjus-account-books/article67067558.ece Clipped from: https://www.thehindubusinessline.com/news/education/ministry-of-corporate-affairs-orders-inspection-of-byjus-account-books/article67067558.ece Byju’s, however, stated that it has not received any communication from the MCA and will cooperate if a routine inspection takes place.
Notice issued to ceased entity is fundamentally illegal and without jurisdiction
https://taxguru.in/income-tax/notice-issued-ceased-entity-fundamentally-illegal-jurisdiction.html Clipped from: https://taxguru.in/income-tax/notice-issued-ceased-entity-fundamentally-illegal-jurisdiction.html Adani Estate Management Private Limited Vs ITO (Gujarat High Court) Gujarat High Court held that if the company has ceased to exist
Goods imported separately cannot be clubbed for the purpose of classification
https://taxguru.in/custom-duty/goods-imported-separately-clubbed-purpose-classification.html Clipped from: https://taxguru.in/custom-duty/goods-imported-separately-clubbed-purpose-classification.html Baba Baidyanath Trading Company Vs Commissioner of Customs (Port) (CESTAT Kolkata) CESTAT Kolkata held that goods imported separately by two different importers
Husband supplies money for acquiring property in wife’s name doesn’t imply benami transaction
https://taxguru.in/corporate-law/husband-supplies-money-acquiring-property-wifes-doesnt-imply-benami-transaction.html Clipped from: https://taxguru.in/corporate-law/husband-supplies-money-acquiring-property-wifes-doesnt-imply-benami-transaction.html Sekhar Kumar Roy Vs Smt. Lila Roy & Another (Calcutta High Court) Calcutta High Court held that if a husband supplies the
Dukaan lays off 90% staff for AI bot: It’s absolutely necessary, says CEO
https://www.business-standard.com/companies/news/dukaan-lays-off-90-staff-for-ai-bot-it-s-absolutely-necessary-says-ceo-123071100512_1.html Clipped from: https://www.business-standard.com/companies/news/dukaan-lays-off-90-staff-for-ai-bot-it-s-absolutely-necessary-says-ceo-123071100512_1.html E-commerce startup Dukaan has replaced 90% of its customer support team with an artificial intelligence (AI) chatbot, founder and CEO Suumit Shah
Verify data in pre-filled forms carefully before filing your tax return
https://www.business-standard.com/finance/personal-finance/verify-pre-filled-data-carefully-before-filing-tax-keep-documents-handy-123071100516_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/verify-pre-filled-data-carefully-before-filing-tax-keep-documents-handy-123071100516_1.html Keep all relevant documents handy to to cross-check the data and weed out inaccuracies Photo: Shutterstock The Income-Tax Department now provides pre-filled
Navigating Tax Filing: Understanding Form 26AS and AIS – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/what-taxpayers-must-note-with-form-26as-and-ais/article67027326.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/what-taxpayers-must-note-with-form-26as-and-ais/article67027326.ece A lowdown on the two key forms to accurately file income-tax returns With the deadline for the income-tax return-filing season ending in
Centre spending ₹50,000 on every farmer, every year: PM – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/agri-business/centre-spending-50000-annually-on-each-farmer-through-dbt-subsidy/article67030511.ece Clipped from: https://www.thehindubusinessline.com/economy/agri-business/centre-spending-50000-annually-on-each-farmer-through-dbt-subsidy/article67030511.ece Modi mentioned the substantial budget allocated and disbursed to farmers under various schemes, emphasizing the government’s support. Prime Minister Narendra Modi on
Foreign assets mean tax liabilities: Things to mind while filing returns
https://www.business-standard.com/finance/personal-finance/foreign-assets-mean-tax-liabilities-things-to-mind-while-filing-returns-123062900693_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/foreign-assets-mean-tax-liabilities-things-to-mind-while-filing-returns-123062900693_1.html Penalties for non-disclosure or inaccurate disclosure of these details can be severe, say experts Indians holding assets abroad have to cite them
Medical Insurance | Once Insurer Accepts That Concealment Of Disease Was Not Material, Reimbursement & Renewal Can’t Be Refused : Supreme Court
https://www.livelaw.in/supreme-court/supreme-court-medical-insurance-once-insurer-accepts-that-concealment-of-disease-was-not-material-reimbursement-renewal-cant-be-refuse-232132 Clipped from: https://www.livelaw.in/supreme-court/supreme-court-medical-insurance-once-insurer-accepts-that-concealment-of-disease-was-not-material-reimbursement-renewal-cant-be-refuse-232132 The Supreme Court on Tuesday held that once there is a valid insurance policy in favour of a person, the claim for
Non-disclosure doesn’t apply to known facts
https://www.business-standard.com/opinion/columns/non-disclosure-doesn-t-apply-to-known-facts-123070900732_1.html Clipped from: https://www.business-standard.com/opinion/columns/non-disclosure-doesn-t-apply-to-known-facts-123070900732_1.html The National Commission considered that the law provided that jurisdiction could be based on the complainant’s place of residence. Listen to This
GST Council meeting: Onus of deducting TCS may be on ONDC sellers
https://www.business-standard.com/finance/news/gst-council-meeting-tcs-liability-might-be-on-seller-app-on-ondc-123070900515_1.html Clipped from: https://www.business-standard.com/finance/news/gst-council-meeting-tcs-liability-might-be-on-seller-app-on-ondc-123070900515_1.html Tuesday’s GST Council meet likely to put out clarification Photo via @ONDC_Official on Twitter Listen to This Article The Goods and Services
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