It has come to notice that some returns-of-income having ‘claim of refund’ pertaining to Assessment Years 2014-2015, 2013-2014 and 2012-2013 were not processed within the time-frame prescribed under sub-section (1) of section 143 of the Income-tax Act, 1961 (‘Act’).
The existing DTAA provided for residence based taxation of capital gains on shares. In line with India’s policy of taxation of capital gains on shares, the revised DTAA provides for source based taxation of capital gains arising from alienation of shares comprising more than 5% of share capital.
It is essential that officers working in various wings of Customs, Excise and Service tax department remain aware of legal provisions relating to their appointment, powers and functions under three main tax laws dealing with in-direct taxes, namely, Customs Act, 1962; Central Excise Act, 1944 and the Finance Act, 1994.
Reaction quote from Harish HV, Partner – India Leadership team, Grant Thornton India LLP on India’s ease of doing business ranking: “India’s ranking has improved only marginally in spite of the big ticket reforms and intentions of the Government over the past two years indicating clearly that the impact of these is yet to be […]
The consignments of un-shredded, compressed or loose scrap shall be cleared only through those EDI ports where Risk Management Module is operational.
Freezing of Promoter and Promoter group Demat accounts for Non-compliance with certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
With GST standing at welcome gate of new financial year, it is inevitable for all of us to know as to when would GST liability arise? And this question takes us to the most profoundly discussed aspect of any tax regime, which is Taxable Event.
Model GST law provides a comprehensive and continuous chain of ‘set-off’ benefits from the producer’s point and the service provider’s point upto retailer’s level.
National Economic Advisory Committee of ICAI has selected following topics for the research: 1. Improving Revenue (Non-Tax) GDP Ratio at Municipal, State and National level; 2. Improving Tax GDP Ratio at Municipal, State and National level;
Caveat petition is a precautionary measure which is undertaken by people usually when they are having very strong apprehension that some case is going to be filed in the court regarding their interest in any manner.
