Section 7(1) of the CGST Act; includes Activities to be considered supply WITH A CONSIDERATION (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a considerations by a person in the course / furtherance of […]
DCIT Vs Saroj Kumar Poddar (ITAT Kolkata) Kolkata bench first of its kind of Interim order on the subject of endless adjournments by revenue on pretext of covid 19 and resultant pains to tax payer languishing for justice held remarkably as follows:- The Revenue is also raising strong objections, without any valid ground, for the […]
The rate of interest has since been reviewed and it has been decided that the rate of interest payable by banks to the depositors/claimants on the unclaimed interest bearing deposit amount transferred to the Fund shall be 3 per cent simple interest per annum with effect from the date of this circular.
Madras High Court quashes impugned order, remits the case to ITO for a fair review, citing violation of justice principles. Writ Petition disposed.
Author in this article discusses a recent judgement of Mumbai tribunal dealing with question as to whether it is possible that an assessee pays taxes in UK to the UK ex-chequer and claims refund in India from Indian Ex-chequer. The real tussle is interpretation is application of principles laid down in the case of Wipro Ltd
In exercise of the powers conferred by Section 12 of International Financial Services Centres Authority Act, 2019, the IFSCA advises below the fee structure applicable for IFSC Banking Units (BUs):
The choice of Business Organization’s form is the single most important decision an Entrepreneur has to make. What form your business adopts will affect a multitude of factors which in turn greatly influence, both favorably and unfavorably, your organization’s future. Aligning your goals to your business organization type is an important step, so understanding the […]
ITO Vs Nabinagar Power Generating Co. Pvt. Ltd. (ITAT Delhi) No addition on account of interest income as same was inextricably linked with setting up of power plant and to be capitalized Conclusion: Since the work of construction of the power plant was under progress, interest incomes are also inextricably linked with the setting up […]
As we all are aware that both Section 54 & Section 54F deal in investment in house property on sale of residential house or any asset other capital asset. There are certain similarities and differences between both these sections which are narrated below for easy understanding and shall be useful for everyone who is interested in this topic.
With the influx of more and more technology, financial transactions has taken an exchange platform that is totally cashless and people are becoming more dependent on e-transactions due to its advantage of being most user friendly one.
