Category: Study
Ex-Chief Economic Advisor Krishnamurthy Subramanian tweets why decision to withdraw Rs 2,000 currency notes is important
Read more at:https://economictimes.indiatimes.com/news/india/ex-chief-economic-advisor-krishnamurthy-subramanian-tweets-why-decision-to-withdraw-rs-2000-currency-notes-is-important/articleshow/100382044.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Clipped from: https://economictimes.indiatimes.com/news/india/ex-chief-economic-advisor-krishnamurthy-subramanian-tweets-why-decision-to-withdraw-rs-2000-currency-notes-is-important/articleshow/100382044.cms Synopsis In a long tweet posted on Saturday, Krishnamurthy Subramanian said, “As we have seen in several raids, where mountains
Section 80P deduction eligible to Co-op credit Society on interest from nationalised bank on deposit made to comply statutory requirement
Read more at: https://taxguru.in/income-tax/section-80p-deduction-eligible-co-op-credit-society-interest-nationalised-bank-deposit-comply-statutory-requirement.htmlCopyright © Taxguru.in Clipped from: https://taxguru.in/income-tax/section-80p-deduction-eligible-co-op-credit-society-interest-nationalised-bank-deposit-comply-statutory-requirement.html Rifle Factory Cooperative Society Limited Vs ACIT (ITAT Kolkata) From perusal of Sections 80, 81 & 82 of
👍👍👍👍👍No penalty if no intention to evade service tax & for tax paid before issue of notice
Read more at: https://taxguru.in/service-tax/penalty-intention-evade-service-tax-tax-paid-issue-notice.htmlCopyright © Taxguru.in Clipped from: https://taxguru.in/service-tax/penalty-intention-evade-service-tax-tax-paid-issue-notice.html Assam Company India Limited Vs Commissioner of Service Tax (CESTAT Kolkata) Revenue has not brought any evidence to
Notice u/s 148A(b) received on Date of Reassessment: Delhi HC directs Re Adjudication
Read More: https://www.taxscan.in/notice-u-s-148ab-received-on-date-of-reassessment-delhi-hc-directs-re-adjudication/278877/ Clipped from: https://www.taxscan.in/notice-u-s-148ab-received-on-date-of-reassessment-delhi-hc-directs-re-adjudication/278877/ The Delhi High Court directed re-adjudication since the notice under section 148A(b) of the Income Tax Act, 1961 was received on
ITAT quashes Assessment Order framed u/s 143(3) of Income Tax Act in Name of Non-Existent Entity
Read More: https://www.taxscan.in/itat-quashes-assessment-order-framed-u-s-1433-of-income-tax-act-in-name-of-non-existent-entity/278645/ Clipped from: https://www.taxscan.in/itat-quashes-assessment-order-framed-u-s-1433-of-income-tax-act-in-name-of-non-existent-entity/278645/ By Aparna. M – On May 18, 2023 9:30 am – 2 mins read The Income Tax Appellate Tribunal (ITAT) of Ahmedabad bench quashed the assessment order framed under
Addition of sales reversal entry as unexplained expenditure is unjustified
Read more at: https://taxguru.in/income-tax/addition-sales-reversal-entry-unexplained-expenditure-unjustified.htmlCopyright © Taxguru.in Clipped from: https://taxguru.in/income-tax/addition-sales-reversal-entry-unexplained-expenditure-unjustified.html Chotanagpur Petroleum Agency Vs PCIT (ITAT Kolkata) ITAT Kolkata held that addition of sales reversal entry alleging the
👍👍👍👍👍Section 271B Penalty Sustained even where Books of Accounts Not Maintained at all
Read more at: https://taxguru.in/income-tax/section-271b-penalty-sustained-books-accounts-maintained.htmlCopyright © Taxguru.in Clipped from: https://taxguru.in/income-tax/section-271b-penalty-sustained-books-accounts-maintained.html Rakesh Kumar Jha Vs ITO (ITAT Ranchi) Assessee has been running the business of imparting tuition classes. As
👍👍👍👍👍👍👍Capital Gain Tax Exemption–Part 2 Sale of Inherited Property
Read more at: https://taxguru.in/income-tax/capital-gain-tax-exemption-sale-inherited-property.htmlCopyright © Taxguru.in Clipped from: https://taxguru.in/income-tax/capital-gain-tax-exemption-sale-inherited-property.html Capital Gain Tax Exemption – Part 2 Sale Of Inherited Property 1 Part 1 of the series Capital Gain
Liberalised Remittance Scheme not to cover business visits of employees abroad: Finmin
Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-economy/liberalised-remittance-scheme-not-to-cover-business-visits-of-employees-abroad-finmin/article66867188.ece Payment made in dollar using card in India to attract TCS at 20% Making online purchasesin India from companies located abroad where money
Credit card forex payments under LRS: You have to pay 20% TCS on these transactions from July 1, 2023
Read more at:https://economictimes.indiatimes.com/wealth/spend/20-tcs-on-credit-card-forex-payments-from-july-1-to-come-under-lrs-how-it-will-impact-you/articleshow/100327402.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Clipped from: https://economictimes.indiatimes.com/wealth/spend/20-tcs-on-credit-card-forex-payments-from-july-1-to-come-under-lrs-how-it-will-impact-you/articleshow/100327402.cms Synopsis Credit card spending in a foreign currency will now be a part of LRS’s annual limit of $2,50,000 per
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