Taxability of STCG on Non-Resident Individuals Equity Shares/Units of Equity Oriented Mutual Funds. Basic exemption limit applies to dividend/interest income @ 15%. Income Tax Act, Sec. 111A
This blog post explains Annual Compliances for Private Limited Companies and all the associated legal & regulatory requirements of Companies Act, 2013
Dr. Mathew Cherian Vs ACIT (Madras High Court) Facts of the Case: 1. There was a survey in Kovai Medical Centre and Hospital (in short KMCH or hospital) by the officials of the Income Tax Department, on 11.2021. In the course of the survey, various documents were found and seized that, according to the respondents, […]
Non-supply of material referred to in reasons to believe would render reassessment proceedings bad, even though material for forming opinion may be sufficient
The Reserve Bank of India (RBI) is introducing the Scale Based Regulation (SBR) for all Non-Banking Financial Companies – learn how it affects you. Learn about the revised Regulatory Framework for NBFC’s from the RBI and its keypoints, such as Regulatory Structure-Categorization of the NBFC’s. SBR – Revised Regulatory Framework for NBFC.
CESTAT Mumbai held that as revenue has not demanded any service tax on output service by denying the export status, likewise revenue cannot deny refund by treating the services provided not to be export of service.
ITAT Chennai held that donations paid by conversion of loans into donations comes under the nature of donations paid in cash and hence entitled for deduction under section 80G of the Income Tax Act.
CESTAT Kolkata granted redemption of prohibited goods as against absolute confiscation as importer was not aware about the amendment in policy and importantly policy was amended when the shipment was in process.
ITAT Mumbai held that addition on account of difference in stock as per books and valuation report merely on the basis of statement recorded during survey without credible evidence is unsustainable in law.
ITAT Chennai held that profit or loss derived from sale of land held as stock-in-trade is assessable under the head income from business or profession and not under capital gains.
