Category: News of interest

Clipped from: https://www.business-standard.com/india-news/cbdt-asks-tax-department-to-examine-top-30-short-tds-deduction-123042100991_1.html Apex body releases interim action plan for the first half of FY24 The action plan also talks about enhanced use of technology and

Clipped from: https://www.business-standard.com/finance/news/indians-remit-2-1-billion-in-february-under-lrs-shows-rbi-data-123042100953_1.html Outstanding deposits decline in Feb 2023 over Jan 2023 A further analysis indicated FCNR (B) deposits were $18.4 billion this February, marginally up

Clipped from: https://www.business-standard.com/companies/news/to-woo-foreign-investors-tamil-nadu-too-clears-bill-allowing-12-hours-work-123042100756_1.html Second state after Karnataka to take the decision; provision for 4-day work weeks Listen to This Article To woo multinational corporations in setting

Clipped from: https://www.business-standard.com/markets/news/it-sector-weightage-in-nifty-50-index-at-five-year-low-of-12-2-123042001084_1.html Gives up most of the gains in market cap in post-pandemic period The IT sector has now given up most of the gains

Clipped from: https://www.taxscan.in/gst-applicable-on-voluntary-gratuitous-payment-from-outgoing-members-of-housing-cooperative-society-aaar/267143/?utm_campaign=Campaign+Name&utm_medium=email&utm_source=Newsletter The Maharashtra Appellate Authority of Advance Ruling (AAAR) has ruled that GST is payable on voluntary gratuitous payment from an outgoing member of

Clipped from: https://www.taxscan.in/dettol-is-medicine-4-vat-applicable-under-kvat-act-supreme-court-read-judgement/268615/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Dettol%20is%20Medicine,%204%%20VAT%20Applicable%20under%20KVAT%20Act:%20Supreme%20Court By Aparna. M – On April 11, 2023 6:45 pm – 2 mins read The Supreme Court in a recent case, held that Dettol is a medicine

Clipped from: https://www.taxscan.in/harpic-toilet-cleaner-and-lizol-floor-cleaner-are-not-insecticides-taxable-at-12-5-supreme-court/268582/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Harpic%20Toilet%20Cleaner%20and%20Lizol%20Floor%20Cleaner%20are%20not%20Insecticides,%20Taxable%20at%2012.5%:%20Supreme%20Court By Aparna. M – On April 11, 2023 6:30 pm – 2 mins read The Supreme Court has recently held that Harpic Toilet Cleaner and Lizol Floor

Clipped from: https://www.taxscan.in/mosquito-mats-coils-and-vaporizers-and-mortein-are-insect-killers-subject-to-12-5-vat-sc/268562/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Mosquito%20Mats,%20Coils%20and%20Vaporizers%20and%20Mortein%20are%20insect%20Killers,%20subject%20to%2012.5%%20VAT:%20SC By Aparna. M – On April 11, 2023 6:15 pm – 2 mins read In a significant case, the supreme court held that mosquito mats, coils, vaporizers

Clipped from: https://www.taxscan.in/interest-salary-received-by-partner-from-firm-not-assessable-as-other-income-itat-read-order/268395/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Interest/%20Salary%20received%20by%20Partner%20from%20Firm%20Not%20Assessable%20as%20%E2%80%9COther%20Income%E2%80%9D:%20ITAT The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that interest/ salary received by a partner from a firm is not assessable as “other

Clipped from: https://www.taxscan.in/penalty-u-s-271c-of-income-tax-not-leviable-in-absence-of-proper-show-cause-notice-to-the-assessee-itat/268370/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Penaltyu/s%20271(c)%20of%20Income%20Tax%20not%20leviable%20in%20Absence%20of%20Proper%20Show%20Cause%20Notice%20to%20the%20Assessee:%20ITAT The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty is not leviable in absence of proper show cause notice to

Clipped from: https://www.taxscan.in/reassessment-made-after-4-years-is-not-valid-madras-high-court/268361/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Reassessment%20Made%20After%204%20years%20is%20not%20valid:%20Madras%20High%20Court The Madras High Court held that a Reassessment made after 4 years for a mere change of opinion is not valid. The appellant/Revenue,

Clipped from: https://www.taxscan.in/persons-whose-custody-goods-found-are-bound-to-provide-information-within-a-reasonable-time-delhi-hc/268224/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Persons%20whose%20Custody%20Goods%20found%20are%20bound%20to%20provide%20Information%20Within%20a%20Reasonable%20Time:%20Delhi%20HC: Delhi High Court in its recent judgement held that information about the goods must be produced within a reasonable time by the person