Clipped from: https://www.financialexpress.com/industry/sme/cafe-sme/msme-fin-budget-2023-boosting-credit-simplifying-taxation-for-msmes-must-be-govts-top-priority/2947079/ Credit and finance for MSMEs: The MSME industry, which has been the driving force of the Indian economy, has entered into the new
👍S. 40A(3) of Income Tax Act cannot be Invoked When No Single Transaction Exceeds Rs. 20,000: ITAT
Clipped from: https://www.taxscan.in/s-40a3-of-income-tax-act-cannot-be-invoked-when-no-single-transaction-exceeds-rs-20000-itat/245269/ The Income Tax Appellate Tribunal (ITAT), Kolkata ruled that the provisions of section 40A(3) of the Income Tax Act, 1961 cannot be attracted when there is not
Re-Assessment cannot be based on “Reason to Suspect”: ITAT
Clipped from: https://www.taxscan.in/re-assessment-cannot-be-based-on-reason-to-suspect-itat-read-order/245245/ The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that the re-assessment under sections 147/148 of the Income Tax Act, 1961 shall be based on
🙏Co-op societies engaged in banking business eligible for section 80P deduction on interest income on bank deposits*
Clipped from: https://taxguru.in/income-tax/co-op-societies-engaged-banking-business-eligible-section-80p-deduction-interest-income-bank-deposits.html M.P. Police Sakh Sahkari Sanstha Maryadit Vs PCIT (ITAT Indore) Co-operative societies engaged in banking business are eligible for deduction u/s. 80P on
Invocation of section 147 untenable in absence of new/ fresh material indicating escapement of income***
Clipped from: https://taxguru.in/income-tax/invocation-section-147-untenable-absence-new-fresh-material-indicating-escapement-income.html Global Arkitekts P. Ltd. Vs ITO (ITAT Chennai) ITAT Chennai held that AO having chosen not to scrutinize the return cannot resort to
Adjustment of incorrect claim apparent from any information in return is permissible u/s 143(1)
Clipped from: https://taxguru.in/income-tax/adjustment-incorrect-claim-apparent-information-return-permissible-u-s-143-1.html Sree Gokulam Chit and Finance Co. P. Ltd. Vs DCIT (ITAT Chennai) ITAT Chennai held that post amendment w.e.f. 01.04.2008, the scope of
BT Banking & Economy summit: ‘High for long’ could be the interest rate story globally, says RBI Guv Shaktikanta Das – BusinessToday*
Clipped from: https://www.businesstoday.in/industry/banks/story/bt-banking-economy-summit-high-for-long-could-be-the-interest-rate-story-globally-says-rbi-governor-360209-2023-01-13 RBI Governor, Shaktikanta Das expresseed concern over core inflation, opines that there is a need to be vigilant. ‘High for long’ could be
ICICI Bank wins ‘Bank of the Year’ at 27th edition of BT-KPMG Best Banks & Fintechs Awards – BusinessToday
Clipped from: https://www.businesstoday.in/industry/banks/story/icici-bank-wins-bank-of-the-year-at-27th-edition-of-bt-kpmg-best-banks-fintechs-awards-360231-2023-01-13 BT Banking Summit: Thirteen winners were awarded by Union Minister for Road Transport and Highways Nitin Gadkari, National Bank for Infrastructure Financing and
🙏‘Crypto is just gambling’: RBI Governor Shaktikanta Das seeks ban on cryptocurrencies – BusinessToday***
Clipped from: https://www.businesstoday.in/industry/banks/story/crypto-trading-is-just-gambling-rbi-governor-shaktikanta-das-seeks-ban-on-cryptocurrencies-360210-2023-01-13 Explaining further about the reason behind the crypto ban, Das, speaking at the BT Banking & Economy summit, said that besides the commonly
🙏New economic theory being written where inflation, interest rates don’t go hand in hand, says banking veteran K.V. Kamath – BusinessToday*****
Clipped from: https://www.businesstoday.in/industry/banks/story/bt-banking-economy-summit-new-economic-theory-being-written-where-inflation-interest-rates-dont-go-hand-in-hand-says-banking-veteran-kv-kamath-360194-2023-01-13 “We’re entering a very different territory defined by technology and our country’s ability to leverage that technology,” K.V. Kamath, Chairperson, National Bank for
Simple, yet important | The Financial Express*****
Clipped from: https://www.financialexpress.com/opinion/simple-yet-important/2947757/ Don’t expect Budget FY24 to deliver anything dramatic, but watch out for the signalling it will provide The existence of high inflation through
Interest rates may stay higher for longer: Das | The Financial Express
Clipped from: https://www.financialexpress.com/economy/interest-rates-may-stay-higher-for-longer-das/2947820/ The governor noted that core inflation in India remains an area of concern. “Including India I will not say…India is part of the
Raw material security must to make paper industry competitive: IPMA – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/raw-material-security-must-to-make-paper-industry-competitive-ipma/article66373653.ece The paper industry is expected to witness demand growth in sync with the projected economic growth, says AS Mehta AS Mehta, outgoing President
TCS Q3 Results: Offers enough for both the bulls and bears in the IT slugfest – The Hindu BusinessLine***
Clipped from: https://www.thehindubusinessline.com/portfolio/stock-fundamental-analysis-india/tcs-q3-offers-enough-for-both-the-bulls-and-bears-in-the-it-slugfest/article66357860.ece Investors can continue to avoid the stock for now The results, although a little mixed, was slightly ahead of expectations at an overall
BoB (Buy) – The Hindu BusinessLine***
lipped from: https://www.thehindubusinessline.com/markets/brokers-call-bob-buy/article66374361.ece Target: ₹220 CMP: ₹184.90 We remain positive on Bank of Baroda (BOB) given: domestic corporate credit is reviving as growth touched an 8-yr
No safe limit of alcohol consumption for health, WHO analysis shows – The Hindu BusinessLine*
Clipped from: https://www.thehindubusinessline.com/news/science/no-safe-limit-of-alcohol-consumption-for-health-who-analysis-shows/article66364556.ece?cx_testId=21&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EXJOFLQUQ3HI#cxrecs_s The agency has previously found that alcohol causes at least seven types of cancer, including the most common cancer types, such as bowel
Umbrella for the self-employed – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/umbrella-for-the-self-employed/article66357861.ece Innovative ways of ensuring a universal social protection floor are required as conventional schemes are not viable The self-employed are in dire need
How to apply for PAN card for a minor – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/how-to/how-to-apply-for-pan-card-for-a-minor/article66373421.ece You can do in five steps Parents or guardians of a child can apply for a PAN card on behalf of the minor.
Moderating attrition levels bump up margins for top IT companies – The Hindu BusinessLine***
Clipped from: https://www.thehindubusinessline.com/info-tech/moderating-attrition-levels-bump-up-margins-for-top-it-companies/article66374669.ece While the gains are good, the numbers are not higher than the margins reported in Q3FY22 for most firms Attrition continues to moderate.
Wheat sowing up 1.4% as acreage in most States increases – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/agri-business/wheat-sowing-up-14-as-acreage-in-most-states-increases/article66374544.ece 337.18 lakh hectares brought under the cereal; area under all rabi crops, barring chana, rises The total area under all rabi crops increased
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