Read More: https://www.taxscan.in/pan-aadhaar-link-income-tax-dept-issues-clarification-on-inoperation-of-pan-of-nris-ocis/301376/ Clipped from: https://www.taxscan.in/pan-aadhaar-link-income-tax-dept-issues-clarification-on-inoperation-of-pan-of-nris-ocis/301376/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=PAN-Aadhaar%20Link:%20Income%20Tax%20Dept%20issues%20clarification%20on%20Inoperation%20of%20PAN%20of%20NRIs/OCIs The Income Tax Department has issued the clarification regarding the inoperation of Permanent Account Number (PAN) of Non-Residents of India (NRIs)/ Overseas
Payment of Net Receivables by One GSTIN for Another GSTIN of Same Company is Not Supply: ITC can be Claimed If Done through Book Adjustment, AAR Rules in favour of Malabar Gold
Clipped from: https://www.taxscan.in/payment-of-net-receivables-by-one-gstin-for-another-gstin-of-same-company-is-not-supply-itc-can-be-claimed-if-done-through-book-adjustment-aar-rules-in-favour-of-malabar-gold/301305/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Payment%20of%20Net%20Receivables%20by%20One%20GSTIN%20for%20Another%20GSTIN%20of%20Same%20Company%20is%20Not%20Supply:%20ITC%20can%20be%20Claimed%20If%20Done%20through%20Book%20Adjustment,%20AAR%20Rules The Kerala Authority of Advance Ruling (AAR), Thiruvananthapuram has held that the payment of net receivables by one Goods and Services Tax Identification
Mere Chartered Accountant’s certificate without documentary evidence is not sufficient for duty treatment of obsolete stock
https://taxguru.in/excise-duty/mere-chartered-accountants-certificate-documentary-evidence-sufficient-duty-treatment-obsolete-stock.html Clipped from: https://taxguru.in/excise-duty/mere-chartered-accountants-certificate-documentary-evidence-sufficient-duty-treatment-obsolete-stock.html Owens Corning India Ltd Vs Commissioner of Central Tax (CESTAT Mumbai) CESTAT Mumbai in the matter of obsolete stock usage vis-à-vis reversal
Rejection of books of accounts merely because of lower gross profit rate is unsustainable
https://taxguru.in/income-tax/rejection-books-accounts-gross-profit-rate-unsustainable.html Clipped from: https://taxguru.in/income-tax/rejection-books-accounts-gross-profit-rate-unsustainable.html ACIT Vs Omshree Agrotech Private Ltd (ITAT Pune) ITAT Pune held that rejection of books of accounts invoking provisions of section 145(3)
👍👍👍👍👍Reopening of assessment before disposing of objections filed by assessee is unsustainable
https://taxguru.in/income-tax/reopening-assessment-disposing-objections-filed-assessee-unsustainable.html Clipped from: https://taxguru.in/income-tax/reopening-assessment-disposing-objections-filed-assessee-unsustainable.html General Electric Company Vs ADIT (ITAT Mumbai) ITAT Mumbai held that reopening of assessment prior to disposing of the objections filed by
Delay in Filing Appeal due to Medical Treatment: ITAT Condones Delay of 259 Days
Clipped from: https://www.taxscan.in/delay-in-filing-appeal-due-to-medical-treatment-itat-condones-delay-of-259-days/299600/ The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that delay in filling appeal due to medical treatment and condones a delay of
Excess Stock and Excess Cash found during Survey Proceedings are recorded in Books of Account: ITAT Upholds surrendered income as Business Income
Clipped from: https://www.taxscan.in/excess-stock-and-excess-cash-found-during-survey-proceedings-are-recorded-in-books-of-account-itat-upholds-surrendered-income-as-business-income/300751/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Excess%20Stock%20and%20Excess%20Cash%20found%20during%20Survey%20Proceedings%20are%20recorded%20in%20Books%20of%20Account:%20ITAT%20Upholds%20surrendered%20income%20as%20Business%20Income By Aparna. M – On July 17, 2023 5:30 pm – 2 mins read The Income Tax Appellate Tribunal (ITAT) Pune Bench while upholding the business income which surrendered after the
👍👍👍👍👍RBI to issue SOP for banks to expedite rupee trade – The Hindu
https://www.thehindu.com/business/rbi-to-issue-sop-for-banks-to-expedite-rupee-trade/article67090992.ece Clipped from: https://www.thehindu.com/business/rbi-to-issue-sop-for-banks-to-expedite-rupee-trade/article67090992.ece NEW DELHI, 29/04/2016: For Index/ Archives—- Indian Rupee is ruling 20 months high against US Dollar, US Dollars being counted, in New
👍👍👍👍👍Eye on Emirati flows: on the new India-UAE framework and rupee-dirham transactions – The Hindu
https://www.thehindu.com/opinion/editorial/eye-on-emirati-flows-on-the-new-india-uae-framework-and-rupee-dirham-transactions/article67090751.ece lipped from: https://www.thehindu.com/opinion/editorial/eye-on-emirati-flows-on-the-new-india-uae-framework-and-rupee-dirham-transactions/article67090751.ece There are both risks and benefits in the rupee-dirham settlement system The Reserve Bank of India (RBI) and the Central Bank of the
78% of India’s handmade MSMEs struggle to access working capital, hindering cultural economy growth: Report | The Financial Express
https://www.financialexpress.com/industry/sme/msme-fin-78-of-indias-handmade-msmes-struggle-to-access-working-capital-hindering-cultural-economy-growth-report/3174788/ Clipped from: https://www.financialexpress.com/industry/sme/msme-fin-78-of-indias-handmade-msmes-struggle-to-access-working-capital-hindering-cultural-economy-growth-report/3174788/ Credit and Finance for MSMEs: A financial literacy gap has emerged as another key barrier to financing. Fifty-five per cent of HCMs
How to regulate Artificial Intelligence | The Financial Express
https://www.financialexpress.com/opinion/how-to-regulate-artificial-intelligence/3175059/ lipped from: https://www.financialexpress.com/opinion/how-to-regulate-artificial-intelligence/3175059/ Optimal AI governance would call for striking a careful balance between innovation and protecting peoples’ rights. Countries can take a cue from
👍👍👍👍👍👍👍RBI showcases frictionless digital loans in minutes to farmers | The Financial Express
https://www.financialexpress.com/industry/banking-finance/rbi-showcases-frictionless-digital-loans-in-minutes-to-farmers/3175084/ lipped from: https://www.financialexpress.com/industry/banking-finance/rbi-showcases-frictionless-digital-loans-in-minutes-to-farmers/3175084/ Working on more such tech platforms for digital loans to MSME, personal loans “The digitalization of processes was substantially reducing operational expenses
PM Modi’s visit to France bolsters ties with a crucial Western ally – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/editorial/pm-modis-visit-to-france-bolsters-ties-with-a-crucial-western-ally/article67091233.ece Clipped from: https://www.thehindubusinessline.com/opinion/editorial/pm-modis-visit-to-france-bolsters-ties-with-a-crucial-western-ally/article67091233.ece Partnerships in key strategic realms were sealed It is no coincidence that Prime Minister Narendra Modi was accorded France’s most prestigious honour
Misplaced interest
https://www.business-standard.com/opinion/editorial/misplaced-interest-123071701073_1.html lipped from: https://www.business-standard.com/opinion/editorial/misplaced-interest-123071701073_1.html Govt equity in chip design firms is impractical Listen to This Article The government’s efforts to stimulate a domestic semiconductor industry are
Jack Welch, retrospective ‘villain’
https://www.business-standard.com/book/jack-welch-retrospective-villain-123071701036_1.html Clipped from: https://www.business-standard.com/book/jack-welch-retrospective-villain-123071701036_1.html GE’s iconic former CEO’s revered status has been tarnished in recent years, and David Gelles book is the latest attempt to blame
Maximising Rewards: How to prevent expiry of credit card reward points | The Financial Express
https://www.financialexpress.com/money/maximising-rewards-how-to-prevent-expiry-of-credit-card-reward-points/3172967/ Clipped from: https://www.financialexpress.com/money/maximising-rewards-how-to-prevent-expiry-of-credit-card-reward-points/3172967/ Let’s learn some valuable insights about how to avoid the expiration of credit card reward points, ensuring you make the most of
Dollar’s worst drop since November and what it means for global economies and financial markets | The Financial Express
https://www.financialexpress.com/business/investing-abroad-dollars-worst-drop-since-november-and-what-it-means-for-global-economies-and-financial-markets-3174812/ Clipped from: https://www.financialexpress.com/business/investing-abroad-dollars-worst-drop-since-november-and-what-it-means-for-global-economies-and-financial-markets-3174812/ The US currency is teetering at the lowest level in more than a year. X It just may have been the week
India’s real GDP needs to grow at 7.6% over next 25 years for it to become a developed country: RBI bulletin – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/indias-real-gdp-needs-to-grow-at-76-over-next-25-years-for-it-to-become-a-developed-country-rbi-bulletin/article67090911.ece Clipped from: https://www.thehindubusinessline.com/economy/indias-real-gdp-needs-to-grow-at-76-over-next-25-years-for-it-to-become-a-developed-country-rbi-bulletin/article67090911.ece To become a developed country by 2047, India’s per capita GDP needs to rise by 8.8 times from the current level of
Bank branches are irreplaceable – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/bank-branches-are-irreplaceable/article67091055.ece Clipped from: https://www.thehindubusinessline.com/opinion/bank-branches-are-irreplaceable/article67091055.ece Branch visits are required for specialised products, big-ticket/jewel loans, resolving complaints, et al On July 19, 1969, the then government, headed by
👍👍👍👍👍Reopening untenable in absence of tangible material concluding that income has escaped assessment
https://taxguru.in/income-tax/reopening-untenable-absence-tangible-material-concluding-income-escaped-assessment.html Clipped from: https://taxguru.in/income-tax/reopening-untenable-absence-tangible-material-concluding-income-escaped-assessment.html Maharashtra State Power Generation Company Limited Vs ACIT (Bombay High Court) Bombay High Court held that reopening of assessment, in the exercise
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