"07 December 2022" Archive

All about TDS on Salary for Financial Year 2022-23 / Assessment Year 2023-24

Circular No. 24/2022-Income Tax 07/12/2022

DEDUCTION OF TAX AT SOURCE- INCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING THE FINANCIAL YEAR 2022-23...

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Turnover of sale of alcoholic liquor sold in restaurant is taxed separately

Tvl. National Hotel Vs Commercial Tax Officer (Madras High Court)

Madras High Court held that turnover relating to the sale of alcoholic liquor sold in the restaurant is not to be included in the turnover of foods and drinks as sale of alcoholic liquor is taxable separately....

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Exemption u/s 10A of the Income Tax Act not available when return is filed belatedly

Redisolve Software P. Ltd. Vs DCIT (ITAT Chennai)

ITAT Chennai held that return of income has to be filed as per section 139 of the Income Tax Act for claiming benefit under section 10A. Exemption under section 10A is not available in case the return is filed belatedly....

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GST registration cancelled for non-filing of returns to be restored on filing the pending returns

R. Rajalingam Vs Joint Commissioner of GST (Appeals) (Madras High Court)

Madras High Court directed the petitioner to file the pending GST returns thereafter the GST registration cancelled, on account of non-filing of GST return for continuous period of 6 months, will be restored...

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Cancelled GST to be restored on filing all the pending GST Returns

Rajalakshmi Vs State Tax Officer (Circle) (Madras High Court)

Madras High Court directed the petitioner to file the pending GST returns thereafter the GST registration cancelled, on account of non-filing of GST return for continuous period of 6 months, will be restored...

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The process to Get Startup India Certificate in 2023

The Startup India certificate website went live on January 16, 2016. The Indian government started and pushed it under the direction of our prime minister, Mr. Narendra Modi. Startup India’s main goal is to give goods and services a route to being resourceful and inventive. The employment rate in India is expected to increase signif...

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Posted Under: Income Tax | ,

Constitution of Working Group for suggesting regulatory framework post de-notification of existing tariffs

Ref No: IRDAI/NL/ORD/MISC/242/12/2022 07/12/2022

Pursuant to withdrawal of tariffs to rates, terms, conditions and regulations applicable to Fire, Engineering, Motor, Workmen’s Compensation and other classes of business by Tariff Advisory Committee...

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Inclusion of additional export items in Appendix 4R with effect from 15.12.2022

Notification No. 47/2015-2020-DGFT [S.O.5709(E)] 07/12/2022

Additional export sectors/items in Chapter 28, 29, 30 & 73 are being added in Appendix 4R under RoDTEP for exports made from 15.12.2022 and shall be applicable till 30.09.2023....

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RBI Governor’s Monetary Policy Statement: December 7, 2022

Press Release: 2022-2023/1319, Press Release: 2022-2023/1320, Press Release: 2022-2023/1321 07/12/2022

RESERVE BANK OF INDIA Governor’s Statement: December 7, 2022 As we come to the end of yet another turbulent year, the global economy is still marred by profound shocks and unprecedented uncertainty. Mixed signals are emanating from the geopolitical situation and financial market volatility. In the beginning of this year (2022), just as ...

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Classification of imported Fuel Cell System for use in manufacturing of Hydrogen Fuel Cell Vehicles

In re TATA Motors Ltd. (CAAR Mumbai)

Fuel Cell System which is made up of seven components viz. Fuel Processing System. Fuel cell stack module. Air Processing System. Thermal Management System, Electric module. FCS monitoring control and module and DC DC Converter proposed to be imported by the applicant merits classification under CTH 85.01 and more specifically under CTH 8...

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