Clipped from: https://taxguru.in/income-tax/cbdt-circulars-override-income-tax-act-punjab-haryana-hc.html Ishwar Chand Vs Union of India (Punjab and Haryana HC) In the case of Ishwar Chand vs Union of India, the Punjab and Haryana
Month: October 2024
Gold loans: Test by fire – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/specials/current-account/gold-loans-test-by-fire/article68802840.ece Governance, compliance in focus as RBI cautions lenders against lapses Gold loans are used by many Indian households to meet financial exigencies —
PM Modi urges vigilance against ‘digital arrest’ scams, calls for public awareness – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/pm-modi-urges-vigilance-against-digital-arrest-scams-calls-for-public-awareness/article68802796.ece A National Cyber Co-ordination Centre has been set up for synchronisation among investigative agencies working on cyber crime, says Prime Minister Narendra Modi
👌👌👌👌👌Income Tax Department Releases Updated Timeline for Tax Notices
Clipped from: https://www.taxscan.in/income-tax-department-releases-updated-timeline-for-tax-notices/451107/ If an assessment concerns partners following a firm’s assessment, it must be completed within 12 months from the end of the month in
👌👌👌👌👌👌👌Denial of deduction u/s. 54F merely because registration date is beyond stipulated period unjustified
Clipped from: https://taxguru.in/income-tax/denial-deduction-u-s-54f-registration-date-stipulated-period-unjustified.html ACIT Vs Siva Jyothi Palam (ITAT Visakhapatnam) ITAT Visakhapatnam held that denial of deduction under section 54F of the Income Tax Act merely
👌👌👌👌👌👌👌Tax Insights on Sale of Flat & Defective Return
lipped from: https://taxguru.in/income-tax/tax-insights-sale-flat-defective-return.html Arjuna – Krishna today I have two questions for you. Can I ask you? Krishna – hey Arjuna, off course you can. Arjuna – 1st question
👌👌👌👌👌ITAT quashes Assessment Reopening Over Notice Procedural Flaws
Clipped from: https://www.taxscan.in/itat-quashes-reopening-of-assessment-due-to-procedural-flaws-in-issuance-of-notice-read-order/450482/ The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) quashed the reopening of the assessment for the assessment year ( AY ) 2017-18
👌👌👌👌👌👌👌Income Tax Appeal Portal Update: ITAT Website Migrates to New Server
Clipped from: https://www.taxscan.in/income-tax-appeal-portal-update-itat-website-migrates-to-new-server/450620/ The migration process began this week and is expected to take approximately 3-4 days to complete. By Manu Sharma – On October 25, 2024 11:54 am –
👌👌👌👌👌Patna HC rules GST Appellate Authority must consider Grounds raised in Memo even while Considering Appeal Ex-Parte
Clipped from: https://www.taxscan.in/gst-appellate-authority-must-consider-grounds-raised-in-memorandum-even-while-considering-appeal-ex-parte-patna-hc/449734/ The Patna High Court ruled that the Goods and Services Tax ( GST ) appellate authority must consider the grounds raised in the
👌👌👌👌👌CBIC revises GST Notification on Renting Immovable Property RCM
Clipped from: https://www.taxscan.in/cbic-issues-corrigendum-to-gst-rcm-notification-on-renting-immovable-property-read-notification/449785/ In a significant update, the Central Board of Indirect Taxes and Customs ( CBIC ) has issued a corrigendum on October 22, 2024,
👌👌👌👌👌New ‘Tarun Plus’ loan category launched by FinMin under Mudra scheme, loans up to ₹20 lakh – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/new-tarun-plus-loan-category-launched-by-finmin-under-mudra-scheme-loans-up-to-20-lakh/article68794543.ece This initiative aligns with the Finance Minister’s budget announcement to raise the loan limit under the Mudra Scheme from ₹10 lakhs to ₹20
👌👌👌👌👌ITR data shows income inequality has come down, says SBI research report – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/itr-data-shows-income-inequality-has-come-down-says-sbi-research-report/article68794574.ece Analysis of Income Tax Return data shows there has been a cumulative 74.2 per cent decline in income disparity coverage for those earning
👌👌👌👌👌Using Medical Cover for Travel or Treatment Abroad – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/using-medical-cover-for-travel-or-treatment-abroad/article68791566.ece Here’s a lowdown on medical cover in travel insurance and global medical covers Travel insurance policies taken in India can provide medical cover
👌👌👌👌👌10 Indians per hour caught at US borders; over 90,000 arrested in FY24 | India News – Business Standard
Clipped from: https://www.business-standard.com/india-news/10-indians-per-hour-caught-at-us-borders-over-90-000-arrested-in-fy24-124102500994_1.html Despite increased security, the allure of the US remains strong for Indians, especially Gujaratis, with over 90,000 illegal entry attempts recorded in FY24,
Jobs are the most pressing global issue, says FM Nirmala Sitharaman | Economy & Policy News – Business Standard
Clipped from: https://www.business-standard.com/economy/news/jobs-are-the-most-pressing-global-issue-says-fm-nirmala-sitharaman-124102501015_1.html Countries and institutions need to analyse trends in jobs creation and skills, she says Union Finance Minister Nirmala Sitharaman (Photo: PTI) Listen to
Medical device makers claim import of refurbished devices can harm industry | News – Business Standard
Clipped from: https://www.business-standard.com/industry/news/medical-device-makers-claim-import-of-refurbished-devices-can-harm-industry-124102501145_1.html Manufacturing associations added that recent government orders permitting such imports threaten the efforts of Indian manufacturers to meet the vision of Aatmanirbhar Bharat
👌👌👌👌👌ITAT quashes Income Tax Assessment Due to Lack of Higher Authority Approval Reopening Beyond 3 Years
Clipped from: https://www.taxscan.in/itat-quashes-income-tax-assessment-due-to-lack-of-higher-authority-approval-u-s-151-for-reopening-beyond-3-years-read-order/450274/ Considering the revenue failed to get higher authority approval before reopening the assessment beyond 3 years, ITAT quashed the order By Kavi Priya – On October
👌👌👌👌👌Rajasthan HC Stays GST Order Blocking ITC without Giving Hearing Opportunity
Clipped from: https://www.taxscan.in/rajasthan-hc-stays-order-u-s-86-aof-blocking-itc-without-giving-any-opportunity-of-hearing/450200/ In a recent case, the Rajasthan High Court stayed the order passed by Jurisdictional Range officer under section 86 A of the Central
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