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Archive: 13 August 2020

Posts in 13 August 2020

PM launches platform for Transparent Taxation

August 13, 2020 1431 Views 0 comment Print

Prime Minister’s Office Prime Minister Narendra Modi launches platform for ‘Transparent Taxation – Honouring the Honest’ Tax system aims to be Seamless, Painless, Faceless : PM Says the number of taxpayers is significantly low with only 1.5 Crore paying taxes in a country of 130 Crore people Prime Minister urges people to introspect and come […]

Relief under Section 90/91 of Income Tax Act, 1961

August 13, 2020 146391 Views 7 comments Print

Relief Under section 90 if the country in which tax is paid has entered double taxation avoidance agreement with the Government of India. Relief Under section 91 if the country in which tax is paid has not entered into any agreement with the Government of India.

Coaching Classes Not Eligible For GST Exemption- Maharashtra GST Ruling

August 13, 2020 9855 Views 1 comment Print

In a recent ruling by the Maharashtra Authority for Advance Rulings (AAR) has maintained that the coaching centers are not eligible for exemption under GST and they will continue to pay GST @18% under the GST regime, even in cases where the educational services bear a ‘Nil’ tax for their educational services. The ruling came when a Mumbai based coaching […]

The Mind Boggling Tax Dispute: Whether Sachin Tendulkar is an Actor or a Cricketer?

August 13, 2020 345024 Views 76 comments Print

Sachin himself interestingly pleaded that he was an actor and not a professional cricketer in the case of Sachin R. Tendulkar v. Assistant Commissioner of Income Tax adjudged by the Income Tax Appellate Tribunal (ITAT).

CBDT notifies Faceless Assessment procedure

August 13, 2020 9996 Views 0 comment Print

The assessment shall be made as per the following procedure, namely:— (i) the National e-Assessment Centre shall serve a notice on the assessee under sub-section (2) of section 143, specifying the issues for selection of his case for assessment;

CBDT notifies Procedure for assessment under Faceless Assessment

August 13, 2020 9888 Views 0 comment Print

National e-assessment Centre shall assign the case selected for the purposes of e-assessment under this Scheme to a specific assessment unit in any one Regional e-assessment Centre through an automated allocation system;

Is Power to Make Rules for Carrying out the provisions can also be used to carrying cut the same: In a Judgement of Gujarat HC

August 13, 2020 2352 Views 0 comment Print

Is Power to Make Rules for Carrying out the provisions can also be used to carrying cut the same: In a Judgement of Gujarat HC Whether sub-rule (5) to Rule 89 is ultra vires to Section 54(3) and proviso (ii) thereto? In the case of VKC FOOTSTEPS INDIA PVT. LTD. Versus UNION OF INDIA & […]

Evolution Artificial Intelligence & It’s Impact on Finance Jobs

August 13, 2020 2724 Views 0 comment Print

In today’s world, artificial Intelligence (hereinafter is called AI’s) occupies the major place in life of general person. It indicates that the society is thriving from a technology based environment to technology enabled environment. The integration of A.I.

CBDT diverts/re-designate 189 IRS to newly created NeAC

August 13, 2020 2529 Views 0 comment Print

Order No. 149 of 2020 With the approval of the Finance Minister, the following existing posts in the various grades of India Revenue Service are diverted to the newly created National e-Assessment Centre (NeAC), Delhi and its Regional Centres (ReACs) with immediate effect and until further orders:

HC direct GST authorities to decide on release of IGST & Duty Drawback

August 13, 2020 876 Views 1 comment Print

High Court direct GST authorities to decide Question of IGST & Duty Drawback

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