Latest Tax News & Updates

Regulatory Updates: September 2023 | Company, SEBI, RBI & Insolvency Law

CA, CS, CMA - Stay informed with the latest regulatory updates in September 2023, including changes in Company Law, SEBI, RBI, and Insolvency Law. Read more to stay compliant....

Agreement stating Agent, need not be Intermediary – Refund allowed: Delhi HC

Goods and Services Tax - In BOKS Business Services Pvt Ltd vs Commissioner of CGST, Delhi, court rules that calling a party an agent in an agreement doesn't necessarily make them an intermediary for GST purposes....

Understanding SAS 1600: Promoting Migrant Welfare and Displacement

CA, CS, CMA - Dive into world of social audits with SAS 1600, focusing on migrant and displaced persons' welfare. Explore process, evaluation, and impact assessment....

Understanding SEBI (LODR) Regulations 2015: Applicability & Key Terms

SEBI - Explore SEBI (LODR) Regulations 2015, discover their applicability, and get acquainted with essential terms like Specified Securities and Listed Entities. These regulations promote transparency in the stock exchange....

Director’s Accountability and Falsification Case: Madras High Court

Company Law - Explore Madras High Court case involving director accountability, falsification, and legal complexities under Companies Act. Discover implications of judgment....

Difficulty in Receiving OTP for DIR-3 KYC Filing

Company Law - Learn about the challenges faced by directors in receiving OTP for filing DIR-3 KYC and the urgent need for resolution. Read more....

IFSCA Sustainable Lending Framework FAQs

Finance - Get answers to frequently asked questions (FAQs) about the IFSCA Sustainable and Sustainability-linked Lending Framework. Learn about its applicability, requirements, and more....

IFSCA Forms Fund Management Advisory Committee

Finance - IFSCA establishes a Fund Management Advisory Committee (FMAC) under Mr. N S Vishwanathan's chairmanship to advise on fund management industry development in IFSCs....

Multipurpose Empanelment Form 2023-24 hosted at https://meficai.org

CA, CS, CMA - Get ready for MEF 2023-24! Learn how to register, check eligibility, and submit your Multipurpose Empanelment Form for audit firms. Important details here....

IBC Discussion Paper: RP Appointment, Report Sharing, Creditor Meetings

Corporate Law - Read Insolvency and Bankruptcy Board of India's discussion paper on RP appointment, report sharing with guarantors, and creditor meeting mandates....

Non-filing of GSTR-3B over an extended period can lead to GST registration cancellation

Sanscorp India Private Ltd. Vs Assistant Commissioner (Kerala High Court) -  Read about Kerala High Court's decision on GST registration cancellation due to non-filing of GSTR-3B returns for six months and implications for taxpayers....

Exemption benefit available to waste, gums, fatty acids arising during manufacture of vegetable oil

Kissan Fats Limited Vs Commissioner of Central Excise (CESTAT Chandigarh) -  CESTAT Chandigarh held that that waste, gums, fatty acids etc. arising during the course of manufacture of vegetable oils are eligible for the exemption Notification No.89/95-CE dated 18.09.1995....

Service Tax Demand merely based on Calculation Sheets quashed by CESTAT

Pearls Buildwell Infrastructure Limited Vs Commissioner of Central Excise And Service Tax (CESTAT Chandigarh) -  In the case of Pearls Buildwell Infrastructure Limited vs. Commissioner of Central Excise & Service Tax, CESTAT Chandigarh quashes service tax demand due to insufficient evidence....

Consultancy service involving substantial technical skill cannot be treated as FIS

Bain & Company Vs Deputy/ACIT (ITAT Delhi) -  ITAT Delhi held that as per India-USA DTAA provision of consultancy services cannot be treated as FIS merely because the service provider while providing consultancy services had used substantial technical skill and expertise....

Refund not filed within 6 months from issue of notification no. 11/2017-CE (NT) rejected as time-barred

Commissioner Vs Prem Mehandi Center (CESTAT Delhi) -  CESTAT Delhi held that refund of excise duty paid on Henna Powder and Henna Paste in terms of notification no. 11/2017-CE (NT) dated 24.04.2017 rejected as refund claim was not filed within a period of six months from the date of issuance of notification....

Medical Textiles (Quality Control) Order, 2023

(27/09/2023) - Delve into Medical Textiles Quality Control Order 2023 issued by Ministry of Textiles. Explore its implications, standards, and enforcement for medical textile products....

Self- Contained Drinking Water Cooler (Quality Control) Order, 2023

(25/09/2023) - Explore Self-Contained Drinking Water Cooler Quality Control Order 2023 issued by Ministry of Commerce and Industry. Learn about standards, enforcement, and its implications....

Precision Roller and Bush Chains Quality Control Order 2023

(25/09/2023) - Discover Precision Roller and Bush Chains Quality Control Order 2023 issued by Ministry of Commerce and Industry. Learn about standards, enforcement, and its impact....

Miscellaneous Steel Products (Quality Control) Order, 2023

(25/09/2023) - Explore Miscellaneous Steel Products Quality Control Order 2023 issued by Ministry of Commerce and Industry. Learn about standards, enforcement, and its impact....

Agro Textiles (Quality Control) Order, 2023

(27/09/2023) - Learn about the Agro Textiles Quality Control Order 2023 issued by the Ministry of Textiles. Explore standards, enforcement, and its impact on the agro industry....

FAQs

Get answers to frequently asked questions (FAQs) about the IFSCA Sustainable and Sustainability-linked Lending Framework. Learn about its applicability, requirements, and more....
Indo-Nepal Remittance Facility is a cross-border remittance scheme to transfer funds from India to Nepal, enabled under the NEFT Scheme. The scheme was launched to provide a safe and cost-efficient avenue to migrant Nepalese workers in India to remit money back to their families in Nepal. ...
Get answers to frequently asked questions about Form 10BB for A.Y. 2023-24 onwards. Learn about its applicability, filing process, due dates, and more....
Get clarity on Form 10B (Applicable from A.Y. 2023-24 onwards) with comprehensive FAQs. Learn about its applicability, filing process, due dates, and more....
Explore comprehensive guide to statutory obligations for Indian companies, including Secretarial Audit, compliance rules, and filing requirements to ensure legal and responsible business conduct....

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Income Tax Planning

National Pension Scheme (NPS): Retirement Savings For Every Citizen

Articlee examines significance of NPS for retirement arranging, its construction, and tax collection and GST part of National Pension Scheme....

Tax Saving Instruments for Salaried Employees in India: An Ultimate Guide

As a salaried employee in India, optimizing tax savings is essential to maximize take-home income and achieve financial goals. The Indian Income Tax Act offers several tax-sav...

Tax Planning Vs Tax Evasion Vs Tax Avoidance

Tax planning, tax evasion, and tax avoidance are all related to the management of taxes, but they have distinct differences in terms of legality and ethical considerations. Le...

Income Tax Deductions

Deduction u/s 80P(2)(a)(i) available to Souharda Co-operative Society if requirement of mandatory fund is satisfied

ITAT Bangalore held that deduction u/s. 80P(2)(a)(i) of the Income Tax Act in respect of credit facilities provided by Souharda Co-operative Society to its members if requirem...

Denial of deduction u/s. 80IB(10) unjustified as separate building planning permission obtained for each block

ITAT Ahmedabad held that denial of deduction u/s. 80IB(10) of the Income Tax Act alleging non-completion of some blocks unjustified as separate building planning permission we...

Delay in Govt Auditor’s Audit Report Doesn’t Deny U/S 80P Deduction

Uttam Dairy Staff Co-operative Credit & Supply Society vs. AO - ITAT Ahmedabad upheld deduction under Section 80P despite delayed filing due to Govt. Auditor. Analysis here....

Calculators

Income Tax calculator for Salaried Individuals of F.Y. 2023-2024

📢 Attention Salaried Individuals! Discover Your Best Tax Regime with Our Income Tax Calculator! Tax season stressing you out? Wondering which tax regime is more beneficial ...

EMI-APR Calculator with Amortization

Equated Monthly Instalment (EMI) – Annual Percent Rate (APR) Calculator With Amortization The APR/EIR Calculator with Amortization is an Excel-based tool that helps calc...

Excel Based Depreciation Rate Calculator to Convert from SLM to WDV

An Excel-based rate calculator to convert depreciation accounting from Straight Line Method (SLM) to Written Down Value (WDV) is a tool created in Microsoft Excel that helps i...

Rate Charts

Income Tax Slabs for FY 2023-24 (AY 2024-25) in the New Tax Regime

Learn about latest income tax slabs for FY 2023-24 (AY 2024-25) in new tax regime, including notable changes and how they affect taxpayers...

Income Tax Rates For FY 2022-23 & 2023-24 i.e. AY 2023-24 & 2024-25

Understanding income tax rates is essential for financial planning, be it for an individual, a Hindu Undivided Family (HUF), a partnership firm, or a company. This article aim...

Updated Penalty Chart under Income Tax Act, 1961

Article discusses Income Tax Penalties for Failure to deduct TDS / TCS in full and part, Quoting false TAN in challan/ statements, Failure to apply for TAN, Failure to furnish...

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