Discover the challenges faced by exporters in India and the importance of third-party payments for export/import transactions.
CBDT on 14th June 2022 has finally released after 74 days Excel offline Utility of ITR-5 [For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7] for Assessment Year 2022-23 Punjab and Haryana High Court Judgment in the case of Vishal Garg Vs UOI has instructed CBDT to ensure that […]
Understand Rule 12 of Income Tax Rules wef 01.04.2022 for Assessment Year 2022-23. Get ready for the updated regulations with Taxguru Team.
Calcutta High Court order on Penny stock in which Department’s appeal in penny stock case has been allowed. The Orders of AO and CIT(A) have been restored. Reversed the order of ITAT. The Court Held that : 1. The assessees cannot take shelter under the opinion given by the experts as it is not the […]
Learn about carry forward and set off of losses in case of closely held companies under Section 79. Understand the conditions for carrying forward losses and make informed financial decisions.
We need to understand GST implication on the following issues 1. Whether ‘non-fungible tokens’ are taxable under GST law? 2. If the answer is in affirmative, whether NFT would be classifiable as ‘goods’ or ‘service’? Further, what is the rate of tax under the law?
Insolvency and Bankruptcy Board of India 14th June 2022 Inviting suggestions/inputs from public for effective and expeditious resolution of Real Estate Projects The Insolvency and Bankruptcy Code, 2016 (Code) was amended in 2018 to clarify the status of allottees of a real state project as Financial Creditors. However, large number of real estate projects are […]
Central Government hereby notifies the transfer of capital asset from NTPC Limited (PAN: AAACN0255D), being transferor public sector company, to NTPC Green Energy Limited (PAN: AAICN1737G), being transferee public sector company, under the plan approved by the Central Government on 21st day of March, 2022, for the purposes of the said clause.
Tariff Notification No. 50/2022-Custom (N.T.), Dated: 15.06.2022 – Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 15th June, 2022 Notification No. 50/2022-Custom (N.T.) S.O. 2755(E).—In exercise of the powers conferred by sub-section (2) of […]
Ajay Bhandari Vs Union of India (Allahabad High Court) Reassessment — Reopening of assessment — Reopening notice issued under unammended provisions — Reliefs sought in petition is to quash impugned notice u/s 148 — Held, as per Clauses 6.2 and 7.1 of Board’s Circular dated 11.05.2022, if a case does not fall under Clause (b) […]
