Category: ART
*Delhi HC quashes NFRA’s 11 show-cause notices against CAs, audit firms – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/delhi-hc-quashes-nfras-11-show-cause-notices-against-cas-audit-firms/article69199642.ece In a 476-page order disposing of a batch of writ petitions, the Bench of Justice Yashwant Varma and Justice Dharmesh Sharma held that
*******Gift Tax : A Comprehensive Case Analysis of Gift Tax
Clipped from: https://www.taxscan.in/a-comprehensive-case-analysis-of-gift-tax/477302/?utm_source=signinbutton&utm_medium=txn&utm_campaign=checkoutsigninbtn Gift transactions in India are subject to income tax. Certain gifts received in India are subject to taxation, despite the fact that there
*Malicious iOS, Android apps can read screenshots for passwords: Here’s how | Tech News – Business Standard
Clipped from: https://www.business-standard.com/technology/tech-news/malicious-ios-android-apps-can-read-screenshots-for-passwords-here-s-how-125020600958_1.html Reportedly, some malicious apps on App Store and Play Store have been using Optical Character Recognition (OCR) technology to extract crypto wallet passwords
*******Tax Implications for NRIs Selling Property in India
Clipped from: https://taxguru.in/income-tax/tax-implications-nris-selling-property-india.html Summary: NRIs selling property in India must navigate various tax rules, including capital gains tax. Short-term capital gains (STCG) apply if the property is
☆Will take back Indian illegal immigrants, says MEA amid Trump crackdown | World News – Business Standard
“For Indians not just in the United States, but anywhere in the world, if they are Indian nationals and they are overstaying, or they are
*******Furnishing Reasons at Fag End & Hasty Reassessment Proceedings Unconstitutional: Bombay HC
Clipped from: https://taxguru.in/corporate-law/furnishing-reasons-fag-hasty-reassessment-proceedings-unconstitutional-bombay-hc.html Jayant Avinash Dave Vs ACIT (Bombay High Court) The Bombay High Court ruled in favor of petitioner Jayant Avinash Dave, quashing the reopening
*******Section 54F Exemption Allowed Despite Wife’s Name on Property Title; ITAT Deletes Addition of ₹168.55 crore unexplained cash credit
Clipped from: https://taxguru.in/income-tax/section-54f-exemption-allowed-wifes-property-title-itat-deletes-addition-rs-168-55-crore-unexplained-cash-credit.html ACIT Vs Jay Bharat Mehta (ITAT Mumbai) Section 54F Exemption Allowed Despite Wife’s Name on Property Title In this case, the Assessee claimed
आवश्यक*******No addition for LTCG as property transfer u/s 2(47) required verification of buyer possession and receipt of consideration
Clipped from: https://taxguru.in/income-tax/addition-ltcg-property-transfer-u-s-2-47-required-verification-buyer-possession-receipt-consideration.html Sachin Ramesh Pawar Vs ITO (ITAT Pune) Conclusion: Since assessee’s claims regarding possession and consideration were supported by documents that were not presented before
आवश्यक*******DPDP rules: Parental consent and data localisation shake up big tech in new digital data rules–Courtesy Telangana Today
The draft DPDP rules propose mandatory parental consent for children’s accounts, data localisation requirements, and complex consent management challenges for businesses The draft DPDP rules
आवश्यक*******Assessment Ignoring Indexed Cost of Acquisition Set Aside: Karnataka HC
Clipped from: https://taxguru.in/income-tax/assessment-ignoring-indexed-cost-acquisition-set-aside-karnataka-hc.html Devanur Thimmasetty Srinivasa Vs ITO (Karnataka High Court) Assessment order taking entirety of the sale consideration without taking note of the indexed cost
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