CESTAT Mumbai held that rejecting exemption benefit and duty demand u/s 28 of Customs Act, 1962 by reassessing ‘cameras’ under general and residual description i.e. ‘others’ under 8525 8090 instead of declared specified classification i.e. 8525 8020 is unjustified.
CESTAT Chennai held that handling of export cargo is excluded from the purview of service tax. The same is not exempted service. In nut-shell, any activity on which no service tax is payable doesn’t make such activity an exempted service.
NFRA’s investigations inter alia revealed that the TDL’s Auditors for the FY 2018-19, had failed to meet the relevant requirements of the Standards on Auditing (‘SA’ hereafter) in a number of significant aspects and demonstrated a serious lack of competence. They failed to evaluate their potential conflict of interest and failed to maintain their independence […]
Hi Salaried Taxpayer, Are you confused with Option of Availing New Regime vs Old Regime under Income Tax Act. Please find the Brief Excel Calculator for your decision making. Some of the Deductions available under new regime are given below – Transport allowances in case of a specially-abled person. – Conveyance allowance received to meet […]
Explore the determination of taxability for Non-Resident Individuals (NRIs) in India. Understand the steps involving residential status identification, tax incidence, and the choice between existing and new tax regimes. Learn about TDS, tax liability calculation, and the impact of Double Taxation Avoidance Agreements (DTAA) on NRIs. Get insights into the technical aspects of income taxation for NRIs under the Income Tax Act 1961.
इंस्पेक्शन , सर्च, और सीजर का जीएसटी एक्ट 2017 के अध्याय 14 में उल्लेख हैं। और इस अध्याय में कुल 6 धाराएं है । जिसमें आज का हमारा विषय धारा 67 के संबंध में चर्चा करना है । इस धारा के साथ तीन नियम 139 ,140 ,141 हैं। Act की भाषा को सरल भाषा में […]
Explore the gig economy in India, its rapid expansion, and the challenges it poses to employment classification and labor laws. Understand the unique nature of gig work, the legal gray areas, and the ongoing debates about the need for a new legal framework. Learn about the lack of legal protection for gig workers, the government’s initiatives, and the impact on the broader labor market.
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ITAT Mumbai held that there is a direct nexus between interest received on loan given to firm and interest payment on loan taken from the bank and hence netting of the net interest income allowable under section 57 of the Income Tax Act.
