The penalty provisions of section 271FB of the Income Tax Act applies to all the employer (who paid fringe benefits to its employees) who fails to furnish the ‘return of fringe benefits’ as required under section 115WD (1) of the Income Tax Act. The said penalty provisions of section 271FB are taken up and explained […]
Deposit Insurance Contract is also a general insurance contract as defined in law and merely because they are statutorily prescribed, they do not cease to be contract of insurance. The insurer is the Corporation, the insured are the banks and the beneficiary is the depositor(s)
The issue under consideration is whether additional court fees of 1% of the amount involved in the dispute leviable before filing of the appeals under GST Act is justified in law?
The question before us is, whether the receipts derived from leasing out of the cinema hall, along with furniture & fixtures, plant & machineries and other amenities, was ‘business income’ as contended by the assessee or ‘income from other sources’ as treated by the Department.
उrievance of the writ-applicant is that -authorities are not responding to request with regard to the sanction of refund of IGST paid in connection with the goods exported,
The way U.S Budget has been proposed it seems that the next generation will burn their hands due to the policy decision taken by these people. The numbers are not only eye propping but also gives immense sleepless nightmares about the future outlook of the U.S economy and its citizens. The areas of cuts down […]
Commissioner, GST And Central Excise Vs BSNL (Guwahati High Court) Section 35C of the Central Excise Act, 1944 confers jurisdiction upon the Appellate Tribunal to pass such orders which are indicated therein, including orders confirming, modifying or annulling the decision or order appealed against. However, Section 35C of the Act of 1944, does not confer […]
HIGHLIGHTS OF FINANCE BILL, 2020 APPLICABLE TO ASSESSMENT YEAR 2021-22 (FINANCIAL YEAR 2020-21) (HOWEVER SOME AMENDMENTS ARE PROPOSED TO BE EFFECTIVE FROM 1.4.2020/ DIFFERENT DATES NOTIFIED AND SOME ARE APPLICABLE TO ASSESSMENT YEAR 2020-21 ALSO) 1. TAX RATES A. TAX RATES APPLICABLE TO INDIVIDUAL AND HINDU UNDIVIDED FAMILY (HUF) a) Option – I (OLD SCHEME) […]
The Constitution (Amendment) Bill, 2020 (insertion of new article 47A) was introduced by Shri Anil Desai as Private Members’ Bill in Rajya Sabha on 7th February 2020. It says that The State shall promote small family norms by offering incentives in taxes, employment, education etc. to its people who keep their family limited to two […]
An RTI revealed that Government is earning more than 200 Crore in Average from GST Late fees. It revealed that for the Nine month period of April to December 2019 it collected late fees of Rs. 1898 Crore. Late fees collection is going on despite issues with GST Server and its Limited capacity.
