clipped from: https://economictimes.indiatimes.com/news/economy/policy/india-wont-collapse-like-sri-lanka-or-pakistan-but-we-are-certainly-in-trouble-swaminathan-aiyar/articleshow/91685298.cms SECTIONS India won’t collapse like Sri Lanka or Pakistan but we are certainly in trouble: Swaminathan Aiyar Last Updated: May 20, 2022, 03:16
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.
*****Inflation target needs to be updated, says RBI deputy governor Michael Patra | The Financial Express
Clipped from: https://www.financialexpress.com/economy/inflation-target-needs-to-be-updated-says-rbi-deputy-governor-michael-patra/2530245/ 6% threshold inflation also requires re-estimation, Patra says in EPW article The government, on March 31, 2021, retained the inflation target at 4%
SC judgement on GST Council: The unravelling of GST’s uniformity promise | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/sc-judgement-on-gst-council-the-unravelling-of-gsts-uniformity-promise/2531472/ The Supreme Court, while deciding the correctness of the levy of IGST on ocean freight in the case of Union of India vs
SC ruling unlikely to alter GST regime; power to reject Council’s recos never used: Revenue Secy – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/sc-ruling-unlikely-to-alter-gst-regime-power-to-reject-councils-recos-never-used-revenue-secy/articleshow/91670317.cms Synopsis The recommendations of the GST Council, as per the Constitutional amendment, were always a guidance and never a mandatory compliance, Revenue Secretary
Supreme Court’s observation in Ocean Freight ruling could change landscape of GST framework: Experts – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/supreme-courts-observation-in-ocean-freight-ruling-could-change-landscape-of-gst-framework-experts/articleshow/91659715.cms Synopsis The Supreme Court on Thursday, ruling has held that GST on ocean freight paid in case of import of goods is unconstitutional.
Assessee couldn’t avail Benefit of Service Tax Amnesty Scheme due to Covid-19: Delhi HC asks Govt to consider Extension of Scheme [Read Order]–TAXSCAN
Read More: https://www.taxscan.in/assessee-couldnt-avail-benefit-of-service-tax-amnesty-scheme-due-to-covid-19-delhi-hc-asks-govt-to-consider-extension-of-scheme/172046/ lipped from: https://www.taxscan.in/assessee-couldnt-avail-benefit-of-service-tax-amnesty-scheme-due-to-covid-19-delhi-hc-asks-govt-to-consider-extension-of-scheme/172046/ Top Stories By Taxscan Team – On May 4, 2022 2:07 pm A division bench of the Delhi High Court comprising Mr. Justice Rajiv
Income Tax: CBDT eases Compliance of TDS / TCS [Read Circular]–TAXSCAN
Read More: https://www.taxscan.in/income-tax-cbdt-eases-compliance-of-tds-tcs/175942/ lipped from: https://www.taxscan.in/income-tax-cbdt-eases-compliance-of-tds-tcs/175942/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=TDS%20/%20TCS Top Stories By Rasheela Basheer – On May 18, 2022 5:26 pm The Central Board of Direct Taxes (CBDT) has issued a circular prescribing the rules
Loan from Close Relatives & Friends cannot be treated as ‘Unexplained’ to invoke S. 68: ITAT [Read Order]–TAXSCAN
Read More: https://www.taxscan.in/loan-from-close-relatives-friends-cannot-be-treated-as-unexplained-to-invoke-s-68-itat/176004/ Clipped from: https://www.taxscan.in/loan-from-close-relatives-friends-cannot-be-treated-as-unexplained-to-invoke-s-68-itat/176004/ Top Stories By Rasheela Basheer – On May 19, 2022 4:23 pm The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the loan taken
Cash Deposit arising out of Sale of Agricultural Land cannot be treated as Unexplained: ITAT [Read Order]–Taxscan
Read More: https://www.taxscan.in/cash-deposit-arising-out-of-sale-of-agricultural-land-cannot-be-treated-as-unexplained-itat/176059/ Clipped from: https://www.taxscan.in/cash-deposit-arising-out-of-sale-of-agricultural-land-cannot-be-treated-as-unexplained-itat/176059/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Agricultural%20Land Top Stories By Taxscan Team – On May 19, 2022 2:37 pm The Income Tax Appellate Tribunal (ITAT), Chennai bench, while allowing an appeal
*****Rating agencies in a limbo over RBI’s new guidance on loans – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/rating-agencies-in-a-limbo-over-rbis-new-guidance-on-loans/articleshow/91651887.cms Synopsis Even for apparently more enforceable support such as corporate guarantees (as distinct from letter of comfort), RBI said such structures can be
*US stocks crash: Wall Street ends sharply lower as Target and growth stocks sink – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/wall-street-ends-sharply-lower-as-target-and-growth-stocks-sink/articleshow/91652470.cms Synopsis Target Corp’s first-quarter profit fell by half and the company warned of a bigger margin hit on rising fuel and freight costs.
*****TDS: Finance Ministry to clarify doubts on applicability of TDS on perks received in business, profession – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/finance-ministry-to-clarify-doubts-on-applicability-of-tds-on-perks-received-in-business-profession/articleshow/91639138.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23 Synopsis The Budget brought in a new section, 194R in the I-T Act which requires deduction of tax at source at the rate
*****MPC continued forward guidance for too long: MPC member Jayanth Varma – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/lot-of-catching-up-to-do-as-mpc-continued-forward-guidance-for-far-too-long-mpc-minutes/articleshow/91643018.cms Synopsis In the minutes of the unscheduled meeting held by the Monetary Policy Committee (MPC) between May 2 and May 4, Jayanth Varma
*****Waiting till June meant losing time when war related inflation pressures accentuated: RBI governor Shaktikanta Das – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/waiting-till-june-meant-losing-time-when-war-related-inflation-pressures-accentuated-rbi-governor-shaktikanta-das/articleshow/91646249.cms Synopsis Justifying the timing of RBI’s rate action, the governor said that the war in Europe is now expected to last much longer
*****Husband can claim Capital Gain Exemption for Investment made in the name of Wife: ITAT–TAXSCAN
lipped from: https://www.taxscan.in/husband-can-claim-capital-gain-exemption-for-investment-made-in-the-name-of-wife-itat/175637/ Top Stories By Kalyani B. Nair – On May 17, 2022 5:32 pm The Income Tax Appellate Tribunal (ITAT), Jaipur bench consisting of DR. S. Seethalakshmi, Judicial
*****Re-Assessment based on Wrong Assumption and Information from Another Assessing Officer is Invalid: ITAT
lipped from: https://www.taxscan.in/re-assessment-based-on-wrong-assumption-and-information-from-another-assessing-officer-is-invalid-itat/175101/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Re-Assessment Top Stories By Rasheela Basheer – On May 16, 2022 11:02 am The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the reopening of assessment based on wrong
*****Income Tax Dept failed to give Minimum Time to Respond: Delhi HC quashes S. 148 Notice [Read Order]–TAXSCAN
Read More: https://www.taxscan.in/income-tax-dept-failed-to-give-minimum-time-to-respond-delhi-hc-quashes-s-148-notice/175092/ lipped from: https://www.taxscan.in/income-tax-dept-failed-to-give-minimum-time-to-respond-delhi-hc-quashes-s-148-notice/175092/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Income%20Tax%20Dept Top Stories By Taxscan Team – On May 16, 2022 2:34 pm In an assessee-favouring ruling, the Delhi High Court has quashed a notice under
*****NRI couldn’t Prove Source of Cash Deposit during Demonetization: ITAT upholds Addition [Read Order]–TAXSCAN
Read More: https://www.taxscan.in/nri-couldnt-prove-source-of-cash-deposit-during-demonetization-itat-upholds-addition/175912/ lipped from: https://www.taxscan.in/nri-couldnt-prove-source-of-cash-deposit-during-demonetization-itat-upholds-addition/175912/ Top Stories By Rasheela Basheer – On May 18, 2022 6:03 pm The Income Tax Appellate Tribunal (ITAT), Bangalore has upheld an addition against
*****No Excise Duty on Goods Manufactured on Job Work basis from Old and Used Goods Supplied by Principal Supplier: CESTAT [Read Order]–TAXSCAN
Read More: https://www.taxscan.in/no-excise-duty-on-goods-manufactured-on-job-work-basis-from-old-and-used-goods-supplied-by-principal-supplier-cestat/175466/ Clipped from: https://www.taxscan.in/no-excise-duty-on-goods-manufactured-on-job-work-basis-from-old-and-used-goods-supplied-by-principal-supplier-cestat/175466/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=No%20Excise%20Duty Top Stories By Jwala K.P – On May 17, 2022 2:31 pm The Ahmedabad Bench of Customs, Excise & Service Tax Appellate Tribunal (
Mere ‘Change of Opinion’ cannot be a ‘Reason to Believe’ Escapement of Income to Initiate Re-Assessment: Delhi HC [Read Order]–TAXSCAN
Read More: https://www.taxscan.in/mere-change-of-opinion-cannot-be-a-reason-to-believe-escapement-of-income-to-initiate-re-assessment-delhi-hc/175544/ Clipped from: https://www.taxscan.in/mere-change-of-opinion-cannot-be-a-reason-to-believe-escapement-of-income-to-initiate-re-assessment-delhi-hc/175544/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Change%20of%20Opinion Top Stories By Rasheela Basheer – On May 17, 2022 3:01 pm The division bench of the Delhi High Court while dismissing an appeal
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