Vodafone Idea Ltd. (As successor to Spice Communications Limited Vs DCIT (ITAT Mumbai) -
Sale of prepaid sim cards / recharge vouchers by the assessee to distributors cannot be treated as commission / discount to attract the provisions of section 194H of the Act and hence there cannot be any obligation on the part of the assessee to deduct tax at source thereon and consequentially there cannot be any disallowance u/s 40(a)(ia...
New Tax Regime: The New Tax Regime shall be treated as Default Regime. The taxpayers shall still have an option to choose from the prior regime (OLD TAX REGIME). Change in Income Tax Exemption Limit: The Tax limit has been enhanced from Rs 5Lakhs to Rs 7 Lakhs that means individual up to Rs 7 Lakh income shall be exempted and need not to ...
Corporate governance in the business context refers to the systems of rules, practices, and processes by which companies are governed. Basically, it ensures that an organisation follows appropriate and transparent decision-making processes and that the interest of all stakeholders are protected. It works to achieve the goal of organisatio...
Notification No. 1/2023-DGFT -
31/03/2023
Central Government notifies Foreign Trade Policy, 2023 vide Notification No. 1/2023-DGFT | Dated: 31st March, 2023. This Foreign Trade Policy shall come into force with effect from 1st April, 2023. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Notification No. 1/2023-DGF...
Notification No. 64/2015-2020 [S.O. 1586(E)] -
31/03/2023
Based on the final findings of the Authorized Officer i.e., DGTR, vide Notification No. 22/6/2019-DGTR dated 30.09.2021, country-wise Quantitative Restrictions(QR) on import of Isopropyl Alcohol (IPA) have been notified for a period of one year i.e. 2023-24, effective from 01.04.2023 upto 31.03.2024. The Central Government may, however, r...
Notification No. 23/2023-Customs (N.T.) [G.S.R. 244(E).] -
31/03/2023
Courier Imports and Exports (Electronic Declaration and Processing) Amendment Regulations, 2023 shall come into force on 1st April, 2023....
Notification No. 22/2023-Customs (N.T.), [G.S.R.243(E).] -
31/03/2023
Courier Imports and Exports (Clearance) Amendment Regulations, 2023 shall come into force on 1st April, 2023....
Notification No. 21/2023-Customs (N.T.) [S.O. 1567(E).] -
31/03/2023
CBIC notifies commencement dates of clauses (a) and (b) of section 135 & 128 to 131 of Finance Act, 2023 (FA 2023) as 1st April 2023 vide Notification No. 21/2023-Customs (N.T.) | Dated : 31st March, 2023. Text of the Notification is as follows:- MINISTRY OF FINANCE (Department of Revenue) Notification No. 21/2023-Customs (N.T.) | [...
Beginning from 1st April, 2023 the new Financial Year 2023-24, will commence. Union Finance Minister Nirmala Sitharaman’s announcements from Budget will take effect from April 1. Some major changes in Income Tax Rules like changes in income tax slabs to tax rebate limit raised, default tax regime, No LTCG tax benefit on debt mutual fund...
Notification No. 20/2023-Customs, [G.S.R. 252(E).] -
31/03/2023
Notification No. 20/2023-Customs Dated: 31st March, 2023 giving effect to 2nd tranche of India UAE CEPA MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 20/2023-Customs Dated: 31st March, 2023 G.S.R. 252(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), ...