In this article we will discuss vivacious calculation of interest u/s 234B for default in payment of advance tax. Before proceeding ahead, it is indispensible to understand the provisions of Advance tax as pact in Sec. 207 & Sec. 208 of the Income Tax Act, 1961.
Section 80D intricately defines the eligibility criteria for the health care expenses that are considered under the purview of the Income Tax Act. Since health care costs may differ from person to person, section 80D has different tax deductions on the basis of different health care costs.
MCA notifies the manner of dealing with the third party assets in custody or possession of financial service providers by the Administrator appointed under Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th January, 2020 S.O. 464(E).— […]
Prospective accused has no right of hearing before registration of FIR and investigation by the police officer or before the Court including the writ Court, therefore, in a writ petition seeking direction for registration of FIR and investigation into a cognizable offence, the prospective accused is neither necessary nor a proper party.
Government notified revised rates of Duty Drawback, also referred to as All Industry Rates (AIRs), vide Notification No. 07/2020-Customs (N.T.) dated 28.01.2020 which will come into force on 04.02.2020. Salient features of the revised rates of Duty Drawback are explained by Circular No. 06/2020-Customs dated 30th January, 2020. Circular No. 06/2020-Customs F. No. 609/11/2020-DBK Government […]
Manual filing of Appeal Applications, is being replaced by online automated filing of Appeal Applications under VAT and CST Act. After the Go Live of Assessment Module, Appeal Module is being rolled out.
Central Government exempts all the Government organisations from the operation of all the provisions of Foreign Contribution (Regulation) Act, 2010 with effect from 30th January, 2020 if such organisations are under compulsorily audited by the Comptroller and Auditor General of India (CAG). MINISTRY OF HOME AFFAIRS ORDER New Delhi, the 30th January, 2020 S.O. 459(E). Whereas […]
CBIC Seeks to impose provisional anti-dumping duty on the imports of the Digital offset printing plates, originating in or exported from China PR, Japan, Korea RP, Taiwan and Vietnam vide Notification No. 2/2020-Customs (ADD) dated 30th January, 2020. MINISTRY OF FINANCE (Department of Revenue) Notification No. 2/2020-Customs (ADD) New Delhi, the 30th January, 2020 G.S.R. […]
The formation of the opinion by the authority that the goods and the conveyance are liable to be confiscated should reflect intense application of mind. We are saying so because it is not any or every contravention of the provisions of the Act or the Rules which may be sufficient to arrive at the conclusion that the case is one of an intention to evade payment of tax. In short, the action must be held in good faith and should not be a mere pretence.
Pradip Chimanlal Mevada Vs Union of India (Gujarat High Court) We dispose of this writ application with a direction to the Joint Commissioner of State Tax, Mahesana Division, Mahesana to immediately look into the request made by the writ applicant to upload ITC-01 vide representation dated 13th January 2020 at Annexure : ‘N’ to this […]
