Recently in cases of large no. of tax payers an intimation U/s. 143(1) of the Income Tax Act, 1961 has been issued, wherein an adjustment has been made regarding income reported in clause 16(d) of the tax audit report
Towards becoming a five trillion dollar economy & beyond, Govt increased its capex budget by about 35% in 2021-22 & by another 35% in 2022-23.
CHANGES IN GST SLAB – At present, there is no recommendation from the GST Council for change in the existing GST rate slabs.
All eligible bodies including District Mineral Foundation Trusts can apply for exemptions as per Section 10(46) of Income-tax Act, 1961
Government takes several steps from time to time to check GST evasion including Using robust data analytics and artificial intelligence to identify and track risky taxpayers and detect tax evasion.
Whether the Government proposes to consider reducing the Goods and Services Tax (GST) rate of 18 per cent on wet grinders
Govt has wef 1st July 2022 imposed duties/cesses on domestically produced Crude Petroleum & export of Petrol, Diesel and Aviation Turbine Fuel
There is no mention of the term re-sealing of property in SARFAESI Act, 2022 and the Recovery of Debts and Bankruptcy (RDB) Act, 1993
IRDAI has clarified that they have not taken any decision with regard to disclosure of commission on Insurance policy document.
Perquisites includes the value of any concession in the matter of rent respecting any accommodation provided to the assessee by his employer.
