Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-tax-computation-under-budget-2025-proposals/article69523134.ece Where the total income of a resident individual exceeds ₹12 lakh, the individual is not eligible to claim the rebate under the relevant
Day: May 17, 2025
*******Issuing Credit Notes? This Document Can save You from GST Demands
Clipped from: https://taxguru.in/goods-and-service-tax/issuing-credit-notes-document-save-gst-demands.html New GST circular requires suppliers to get buyer confirmation or CA certificate of ITC reversal to legally reduce tax via credit notes for
*******ITAT: No Income Tax Addition Permissible in Unabated Assessment Without Incriminating Material Found During Search u/s 132
Clipped from: https://www.taxscan.in/no-income-tax-addition-permissible-in-unabated-assessment-without-incriminating-material-found-during-search-u-s-132-itat-2/517825/ The Pune Bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that no addition can be made under Section 153A in an
How to Claim Tax Deduction on Donation Under Income Tax Act,1961?
Clipped from: https://www.taxscan.in/how-to-claim-tax-deduction-on-donation-under-income-tax-act1961/416581/ Donating to charity is an act of serving society. The government extends its full support towards charitable services by providing tax deductions on
Bombay HC quashes Income Tax Notice Issued u/s 148 which was beyond the time period specified under statute
Clipped from: https://www.taxscan.in/bombay-hc-quashes-income-tax-notice-issued-u-s-148-which-was-beyond-the-time-period-specified-under-statute/517797/ In a recent case, the Bombay High Court has quashed the notice issued under section 148 of the Income Tax Act, 1961 which
Madras HC: GST Interest & Penalty Not Applicable on Reversed ITC Never Availed or Utilised from Date of Claim of ITC in ECRL
Clipped from: https://www.taxscan.in/gst-interest-penalty-not-applicable-on-reversed-itc-never-availed-or-utilised-from-date-of-claim-of-itc-in-ecrl-madras-hc/507596/?utm_source=signinbutton&utm_medium=txn&utm_campaign=checkoutsigninbtn The Madras High Court, in its recent ruling, favoured in favour of petitioner, ruling that the interest and penalty should not be imposed on the
Moody’s strips US of top credit rating amid soaring debt crisis – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/news/world/moodys-strips-us-of-top-credit-rating-amid-soaring-debt-crisis/article69585426.ece This makes Moody’s the third major credit rating agency to lower the federal government’s rating, following S&P in 2011 and Fitch in 2023.
US Supreme Court puts brakes on Trump’s deportation push using colonial-era law – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/world/us-supreme-court-puts-brakes-on-trumps-deportation-push-using-colonial-era-law/article69586244.ece President Trump criticised the decision, claiming it undermines efforts to expel criminals The U.S. Supreme Court on Friday blocked the Trump administration from
MCA likely to widen PM Internship Scheme beyond top 500 companies | Economy & Policy News – Business Standard
Clipped from: https://www.business-standard.com/economy/news/mca-likely-to-widen-pm-internship-scheme-beyond-top-500-companies-125051601470_1.html The age for joining the scheme, according to sources, is also likely to be brought down to accommodate applicants coming from industrial training
Cyberwarfare signs: Govt on high alert, urges industry to boost security | Industry News – Business Standard
Clipped from: https://www.business-standard.com/industry/news/cyberwarfare-signs-govt-on-high-alert-urges-industry-to-boost-security-125051601531_1.html Large groups, MSMEs asked to step up defences Some of these attacks were recorded using advanced and sophisticated spear-phishing campaigns using malware like
FY25 tax returns: Split capital gains based on sale date – Income Tax News | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax-fy25-tax-returns-split-capital-gains-based-on-sale-date-3847626/ FY25 ITR forms require taxpayers to split capital gains based on asset sale date—before or after July 23, 2024—due to tax rate changes.
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