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Archive: 28 March 2023

Posts in 28 March 2023

Services provided by Ernst & Young India to overseas EY Entities is export of service

March 28, 2023 3753 Views 0 comment Print

Ernst And Young Limited Vs Additional Commissioner CGST (Delhi High Court) In the present case, the petitioner has provided professional services in terms of the service agreements to overseas entities (EY Entities). It had issued the invoices for the said services directly to EY Entities and had received the invoiced consideration from EY Entities, in […]

Assessment under section 153 without opportunity of hearing to Assessee is invalid

March 28, 2023 1449 Views 0 comment Print

Manishkumar Tulsidas Kaneriya Vs ACIT (Gujarat High Court) Section 144,  contemplates providing the assessee an opportunity of being heard before making assessment. The First Proviso mentions that such opportunity shall be given by the assessing officer by serving notice to the assessee, mentioning date and time for completion of the assessment to the best of […]

Reopening by merely quoting Insight portal information is invalid

March 28, 2023 4695 Views 0 comment Print

The impugned notice, other than merely quoting that the Insight portal contains information as stated by the Assessing Officer in his reasons for the re­opening, does not further investigate the information or come to an independent assessment connecting the petitioner to the particular transactions specified in the information.

Draft submission regarding approval u/s 151 from competent authority for issue of notice u/s 148

March 28, 2023 7554 Views 0 comment Print

Explore the intricacies of approval under Section 151 of the Income Tax Act for the issuance of notices under Section 148. Uncover legal nuances and key judgments.

18% GST payable on Civil contract services to IIT Madras

March 28, 2023 1317 Views 0 comment Print

In re ESVEE Constructions (GST AAR Tamilnadu) What is the applicable rate of tax under CGST Rules for the Civil Contract Services (SAC 995414) undertaken / to be undertaken to our customer M/s IIT, Madras (GST No.33AAAAI3615GlZ6) by us with effect from 01.01.2022 by virtue of amendment to Notification No. 11/2017 C.T (Rate) vide Notification […]

IGST rate on supply of Mattress to any Hostel of Educational Institutions

March 28, 2023 816 Views 0 comment Print

Mattresses, classified by the applicant under HSN 940429, supplied by the applicant in the State of Tamil Nadu to any hostel of educational institutions in other State is liable to IGST @ 18% vide serial number 438 under Schedule III of Notification No. 1/2017 IT (Rate) dated 28.06.2017, as amended by Notification No.43/2017 IT(Rate) dated 14.11.2017.

Capital Gain Exemption on Sale of Property Under Section 54F – Landmark Judgements – Part 1

March 28, 2023 131736 Views 28 comments Print

Explore Section 54F of the Income Tax Act, unraveling tax exemptions on the sale of long-term properties, and delve into landmark judgments for comprehensive insights.

Why this step motherly treatment for Old Tax Regime followers?

March 28, 2023 3525 Views 1 comment Print

Discover the disparities in the treatment of Old Tax Regime (OTR) followers in the Finance Bill 2023, as the Government encourages the New Tax Regime (NTR) with changes in exemptions, rates, and deductions, raising concerns for those sticking to OTR.

Auto Income Tax Calculator for F.Y.2023-24 and A.Y.2024-25

March 28, 2023 63897 Views 7 comments Print

How to save your income tax for the A.Y.2023-24 with Auto calculate Income Tax Calculator All in One for the F.Y.2023-24 and A.Y.2024-25. Download from the below-attached file as Auto Calculate Income Tax Calculator All in One for the Government & Non-Government Employees for the F.Y.2023-24 & A.Y.2024-25 as per Budget 2023 with New Tax […]

Debt Mutual Fund – New Tax Rule – Big Loss to Investors?

March 28, 2023 11778 Views 0 comment Print

Taxation of Debt Mutual Funds has been a topic of discussion for the past few days, with several amendments being made to the rules and regulations surrounding it.

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