Clipped from: https://www.taxscan.in/incorrect-service-tax-demand-based-on-tds-amount-cestat-quashes-demand-for-inflated-taxable-value/501828/ It observed that TDS was deducted from the amount paid to the appellant, making the paid amount the actual gross amount By Sneha Sukumaran
Category: Seven Star
*******Sending Notices Merely by Mail is Denial of Hearing Opportunity: ITAT Bangalore
Clipped from: https://taxguru.in/income-tax/sending-notices-mail-denial-hearing-opportunity-itat-bangalore.html Heggur Nanjundappa Vishwanath Vs ITO (ITAT Bangalore) In the case of Heggur Nanjundappa Vishwanath Vs The Income Tax Officer, Circle – 7(1)(1), Bengaluru,
*******Income from ‘Profits and Gains of Business or Profession’
Clipped from: https://taxguru.in/income-tax/income-profits-gains-business-profession.html Summary: This section of the Income Tax Act, 1961, defines and clarifies income from “Profits and Gains of Business or Profession.” It distinguishes between
*******Impact of Recent Tax Reforms on MSMEs In India: Challenges & Growth
Clipped from: https://taxguru.in/goods-and-service-tax/impact-tax-reforms-msmes-india-challenges-growth.html Introduction to MSMEs[1] Micro, small, and medium enterprises (MSMEs) are a vital component of India’s economy, contributing significantly to employment generation, innovation, and
*******ITAT Directs Reassessment in ₹1.8 Crore Capital Gains & Section 54 exemption denial Case
Clipped from: https://taxguru.in/income-tax/itat-directs-reassessment-rs-1-8-crore-capital-gains-section-54-exemption-denial-case.html Badri Narayanan Vs ITO (ITAT Chennai) The Income Tax Appellate Tribunal (ITAT) Chennai has directed the Assessing Officer (AO) to re-examine a capital
*******No tax on income up to Rs 12 lakh, but it’s a rebate, not an exemption | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/no-tax-on-income-up-to-rs-12-lakh-but-it-s-a-rebate-not-an-exemption-125020600916_1.html A rebate applies after tax is calculated, reducing the final amount payable, much like a discount Listen to This Article Budget 2025 has
*******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
*******Growth gets its due – Opinion News | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/growth-gets-its-due/3741581/ RBI appears willing to be a lot more flexible while targeting inflation. The good news is that the RBI now appears willing to
*******The RBI’s fine balancing act – Opinion News | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/the-rbis-fine-balancing-act/3741599/ Given the global volatility and uncertainty amidst a downturn and a depreciating currency, the MPC has done so by reducing the repo rate
*******RBI’s policy: Flexible, adaptable & balanced – Opinion News | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/rbis-policy-flexible-adaptable-balanced/3741637/?ref=hometop_hp MPC statement has delivered tangible as well as intangible policy blueprints. he Reserve Bank of India (RBI). (PTI) By Soumya Kanti Ghosh The
*******No tax on income up to Rs 12 lakh, but it’s a rebate, not an exemption
A rebate applies after tax is calculated, reducing the final amount payable, much like a discount Budget 2025 has proposed making normal income up to
*******MPC should wait and watch as global risks complicate rate decisions
Clipped from: https://www.business-standard.com/opinion/columns/mpc-should-wait-and-watch-as-global-risks-complicate-rate-decisions-125020501742_1.html Global uncertainty demands caution on monetary policy Listen to This Article The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India
*******What is rebate under Section 87A? How does it differ from income tax deductions, exemptions? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/blexplainer/bl-explainer-what-is-rebate-under-section-87a-how-does-it-differ-from-income-tax-deductions-exemptions/article69182958.ece An exemption is one that is adjusted right at the stage of computing GTI. A rebate is a discount applied directly to the
*******In big relief, buyers can get possession of flats, plots during insolvency process – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/real-estate/ibbi-unlocks-stalled-homes-possession-now-possible-during-insolvency/article69184083.ece In a game-changing move, homebuyers can now take possession of their properties while insolvency proceedings continue, ending years of uncertainty. In a big
*******“I don’t think the fear of AI is necessary,” says IMF ED Subramanian – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/ai-will-have-far-more-impact-on-white-collar-jobs-while-previous-innovations-had-impact-on-blue-collar-jobs-imf-ed-subramanian/article69184277.ece “Whenever there is an innovation that comes, we react with complacency or with fear,” he said Whenever there is a technological advance, there’s
*******Sober Budget, amidst middle class euphoria – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/opinion/sober-budget-amidst-middle-class-euphoria/article69184978.ece The middle class would also be expecting an MPC rate cut for its consumption, but RBI needs to factor in stubbornly high inflation
*******Policy rate: To cut or not to cut – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/policy-rate-to-cut-or-not-to-cut/article69184867.ece Given the current growth and investment slowdown, at least a 25 bps cut would be in order Change is a time for renewed
*******Section 263 notice is invalid if the original order ceases to exist: ITAT Jaipur
Clipped from: https://taxguru.in/income-tax/section-263-notice-invalid-original-order-ceases-exist-itat-jaipur.html Dinesh Kumar Chaurasia Vs ACIT (ITAT Jaipur) The case of Dinesh Kumar Chaurasia vs. ACIT (ITAT Jaipur) revolved around the invocation of Section 263 of
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