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Archive: 03 January 2022

Posts in 03 January 2022

Missed The Deadline – File BELATED Income Tax Return

January 3, 2022 46779 Views 3 comments Print

1. Have you missed the ITR filing deadline in anticipation of another extension from 31st Dec 2021? No worries. You still have a chance to file your ITR by 31st March 2022. The due date of ITR filing for individuals, whose accounts are not to be audited has been extended twice – first from the […]

Supply of Restaurant Services through E-Commerce Operator

January 3, 2022 55512 Views 2 comments Print

Introduction Earlier, when restaurant supplied food through E – Commerce Operator, restaurant was liable to pay GST on supply of food. But, now w.e.f. 01st January 2022 E – Commerce Operator is liable to pay GST. Let us discuss in detail. Section 9(5) Specified Categories of services, the tax of which shall be paid by […]

All About Fake Invoice under GST

January 3, 2022 35553 Views 0 comment Print

The invoices are called as fake where the GST invoices are raised by an entity without actual supply of goods or services or payment of GST. Fake invoices are raised for the following purposes: I. Claiming undue excess ITC. II. For showing excess Turnover. III. Transferring credit from one registration to another without any actual supply.

ITAT allows trade incentive/Discount/issuance of free handsets to distributor as business expense

January 3, 2022 1905 Views 0 comment Print

Nokia India Pvt. Ltd. Vs ACIT (ITAT Delhi) Conclusion: In present facts of the case, the Hon’ble Tribunal observed trade incentive to distributor, trade discounts and issuance of handsets on Free of Cost as business expense. Facts: The assessee company filed its return of income on 30.11.2013 declaring total income at Rs.5,35,77,93,880/-. Later, the return […]

Providing scholarships to students in foreign university is a business expenditure

January 3, 2022 1263 Views 0 comment Print

Harish N. Salve Vs ACIT (ITAT Delhi) Conclusion: In present facts of the case, the Hon’ble Tribunal held that providing scholarships to students in foreign university is a business expenditure. Facts: Assessee is an Advocate by profession and is stated to derive income from Business, Capital Gain and Other Sources. Assessee filed his return of […]

The Social Benefits of Tax Exemption in India

January 3, 2022 1932 Views 0 comment Print

There is a merciful part tucked away among us all. What’s more, the possibility of getting out there and working on something for society additionally probably entered our thoughts ordinarily. Be that as it may, how continually have we felt complimentary to do it? We get so up to speed in our everyday lowly that […]

CCI Directs Investigation Into Apple’s App Store Policies

January 3, 2022 882 Views 0 comment Print

In Re: Together We Fight Society Vs. Apple Inc. (Competition Commission Of India) Commission is of the prima facie view that Apple has violated the provisions of Section 4(2)(a), 4(2)(b), 4(2)(c), 4(2)(d) and 4(2)(e) of the Act, as elaborated supra which warrants detailed investigation. In view of the foregoing, the Commission directs the Director General […]

Kerala HC Upholds 10% EWS Reservation For Veterinary/Dental Courses under KEAM

January 3, 2022 549 Views 0 comment Print

Vinay Shanker Vs Union of India (Kerala High Court) The writ petitioner seeks a direction to the 5th and 6th respondents to increase the number of seats to the Veterinary and Dental Courses so as to implement the reservation category of Economically Weaker Section and a further direction to respondents 5 and 6 to implement […]

क्या चीनी मोबाइल कंपनियों पर आयकर रेड साबित हुई असफल?

January 3, 2022 960 Views 0 comment Print

पिछली 21 दिसंबर 21 को देश में 25 से ज्यादा शहरों और लगभग 11 राज्यों में अबतक की सबसे बड़ी आयकर रेड चीनी मोबाइल कंपनियां जि़ओमी, ओप्पो और वन प्लस पर की गई और ऐसा बताया गया कि हजारों करोड़ रुपये के अपवंचन की संभावना है.   अगस्त महीने में भी दूरसंचार उपकरण बनाने वाली […]

South Korean taxation – Individual tax

January 3, 2022 2940 Views 0 comment Print

In continuation of my writing on the taxation of the top 25 GDP rated countries, South Korea with its unique income tax for individuals deserves special treatment. I got the latest information from the web site of National Tax Service, (NTS) the government owned one to help with tax information. Proper reference is given at […]

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