Clipped from: https://www.business-standard.com/article/opinion/budget-should-avoid-subsidies-and-protection-to-biz-123010800765_1.html Subsidies and tax concessions are not the best ways to boost our production and exports in the medium and long term One of
Author: Anil R Tikotekar
मी यापूर्वी बँक ऑफ महाराष्ट्र मध्ये क्षेत्रीय अधिकारी म्हणून काम करत होतो. मुंबई, पुणे, सोलापूर, कोल्हापूर व लातूर येथे काम करण्याचा अनुभव आहे . १६ वर्षे मनेजर म्हणूनही काम केले आहे तसेच बँक ऑफ महाराष्ट्र मधील ट्रेनिंग कॉलेज मध्ये शिकवण्याचा देखील अनुभव आहे. माझा इमेल aniltikotekar@gmail.com असा आहे. माझी website अजून चांगली कशी होईल याबाबत सूचनांचे स्वागतच आहे. कोणत्याही आर्थिक फायदा मिळवावा अशा हेतूने ही website सुरु केलीली नाही याची नोंद वाचकांनी घेणे गरजेचे आहे. तसेच या संकेतस्थळावर दिला गेलेला सल्लाअमलात आणण्याआधी आपल्या आर्थिक बाबी माहित असण्याऱ्या व्यक्तींचा [ जसे की CA ] सल्ला घ्यावा. समाजातील काही घटनांना थोडीशी जरी मदत झाली तरी हा प्रयत्न थोडाफार तरी यशस्वी झाला असे म्हणता येईल.
Economists peg India’s FY24 growth at 6% after advance estimates | Business Standard News
lipped from: https://www.business-standard.com/article/economy-policy/after-fy23-first-advance-estimates-economists-see-6-growth-in-fy24-123010800621_1.html Say expectations of easing inflation levels, good rabi output will be supportive of domestic demand Following the FY23 gross domestic product (GDP) advance
Price growth drove India’s pharmaceutical sales in 2022, shows data | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/price-growth-drove-pharma-sales-in-2022-dolo-saw-value-volume-growth-fall-123010800490_1.html Data shows that in calendar year 2022, price driven growth rate has been 6 per cent; growth from new products has been 1.7
We fell short, Air India should have acted swiftly: Chandra on ‘pee-gate’ | Business Standard News*******
lipped from: https://www.business-standard.com/article/companies/fell-short-matter-of-personal-anguish-tata-boss-on-air-india-pee-gate-123010800416_1.html “We regret and are pained about these experiences,” Wilson said, adding that the airline was reviewing its policy on serving alcohol Air India’s
Indian taxpayers: Budget has to fix Indian taxpayers’ nagging dispute management issue for real – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/budget-has-to-fix-indian-taxpayers-nagging-dispute-management-issue-for-real/articleshow/96808764.cms Synopsis Union Budget 2023: The multiple initiatives announced clearly reflect the government’s intent to address the malaise. However, on-the-ground experience shows that the
Reopening of assessment without valid reason is bad in law
Clipped from: https://taxguru.in/income-tax/reopening-assessment-valid-reason-bad-law.html Amin Badruddin Keshwani Vs CIT (ITAT Mumbai) ITAT Mumbai held that reopening of assessment without valid reason or intangible material, merely on the
Claiming exemption under wrong section is rectifiable u/s 154 of the Income Tax Act
Clipped from: https://taxguru.in/income-tax/claiming-exemption-wrong-section-rectifiable-u-s-154-income-tax-act.html University of Burdwan C/o S. N. Ghosh & Associates Vs ACIT (ITAT Kolkata) ITAT Kolkata held that inadvertent mistake of claiming exemption under
Taxation of Gifts: An In Depth Analysis
Clipped from: https://taxguru.in/income-tax/taxation-gifts-depth-analysis.html In India, gifts are not just out of natural love and affection but also carry cultural aspects that our generations have followed. At
Section 54/54F exemption – Flat Booking Vs. Possession
Clipped from: https://taxguru.in/income-tax/section-54-54f-exemption-flat-booking-vs-possession.html Pradeep Kumar Sonthalia Vs DCIT (ITAT Kolkata) The assessee has claimed exemption under section 54 and 54F of the Income Tax Act. Such
RCM applicability on Residential dwelling under GST*****
Clipped from: https://taxguru.in/goods-and-service-tax/rcm-applicability-residential-dwelling-gst.html As per Notification No. 05/2022- Central Tax (Rate) Dated: 13th July, 2022 issued by GST council which has came into effect from 18th July, 2022,
Interest earned by co-operative society out of investment with co-operative bank is deductible u/s 80P(2)(d)
Clipped from: https://taxguru.in/income-tax/interest-earned-co-operative-society-out-investment-co-operative-bank-deductible-u-s-80p2d.html Jal Ratan Deep Co-operative Housing Society Ltd Vs ITO (ITAT Mumbai) ITAT Mumbai held that interest income earned by co-operative society on its
Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-offInventory of Cotton*
Clipped from: https://www.taxscan.in/capital-gains-derived-from-sale-of-property-set-off-under-current-year-business-loss-itat-upholds-disallowance-of-loss-on-account-of-write-off-inventory-of-cotton/236732/ Top Stories The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has upheld the disallowance of loss on account of write-off inventory of cotton whenthe capital
Ex-parte orders violates principles of natural justice & entails civil consequences
Clipped from: https://taxguru.in/goods-and-service-tax/ex-parte-orders-violates-principles-natural-justice-entails-civil-consequences.html National Co-operative Consumer Federation of India Limited Vs State of Bihar (Patna High Court) The Hon’ble Patna High Court in National Co-operative Consumer Federation
Capital Gain Tax on Sale of Inherited Property
lipped from: https://taxguru.in/income-tax/capital-gain-tax-sale-inherited-property.html 1 Immovable property received under a will or by way of inheritance does not have any tax liability. [Proviso to Sec 56(x)(b)]. A
GST on rent of the residential and commercial property
lipped from: https://taxguru.in/goods-and-service-tax/gst-rent-residential-commercial-property.html From the Goods and Services Tax (GST) perspective, renting of residential and commercial property is treated as a ‘supply of service’. The present
Failure to consider reply to SCN and Document produced: Bombay HC quashes demand of Service Tax
Clipped from: https://www.taxscan.in/failure-to-consider-reply-to-scn-and-document-produced-bombay-hc-quashes-demand-of-service-tax/235501/ Top Stories The Bombay High Court at Goa, quashed demand of service tax on failure to consider reply to Show Cause Notice (SCN)
Income earned by Co-operative Society on Investment held with Co-operative Bank can be allowed as Deduction u/s 80P(2)(d): ITAT
Clipped from: https://www.taxscan.in/income-earned-by-co-operative-society-on-investment-held-with-co-operative-bank-can-be-allowed-as-deduction-u-s-80p2d-itat/235665/ Top Stories The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that income earned by a Co-operative society on investment held with Co-operative Bank
Reliance upon ITR shall be made while determining compensation under Motor Vehicles Act
Clipped from: https://taxguru.in/corporate-law/reliance-upon-itr-made-while-determining-compensation-motor-vehicles-act.html Smt. Anjali Vs Lokendra Rathod (Supreme Court of India) Conclusion: The Hon’ble Supreme Court determined compensation under Motor vehicles Act, 1988 on basis of
Insurance Company cannot refuse to process claim when all formalities was completed: SC
Clipped from: https://taxguru.in/company-law/insurance-company-refuse-process-claim-formalities-completed-sc.html Gokal Chand (D) THR. LRS. Vs Axis Bank Ltd. & Anr. (Supreme Court of India) Conclusion: The Hon’ble Supreme Court directed Insurance Company to
Deduction u/s 54 was allowable in case capital gains were utilized within time specified but sale deed was not registered
Clipped from: https://taxguru.in/income-tax/deduction-u-s-54-allowable-case-capital-gains-utilized-time-specified-sale-deed-registered.html Dr. Sheela Puttabuddi Vs ITO (ITAT Bangalore) Conclusion: Utilisation of capital gains within time specified would entitle assessee to claim deduction under section 54,
