Learn about the importance of the GST Number (GSTIN), the process to apply for it, and how to verify its authenticity for seamless, compliant business transactions in India.
ITAT Mumbai held that deduction under section 80P(2)(d) is allowable on the entire interest income received by the assessee from the Co-operative bank which includes the amount credited to the balance sheet.
ITAT Jaipur held that 100% exemption u/s. 10(10AA) denied as employees of Public Sector Undertaking (PSU) and Nationalized Banks or other Institutions which are classified as ‘State’ cannot be assumed the status of Central Government and State Government employees.
Calcutta High Court, in the case of M/s. Gargo Traders v. The Joint Commissioner, Commercial Taxes, held that a recipient of goods/services cannot be denied input tax credit (ITC) if the supplier becomes non-existent or their registration is retrospectively cancelled. The court directed the Revenue Department to consider the documents provided by the assessee to substantiate the genuineness of the transaction.
Finance Act, 2023 introduced amendments to Section 142(2A) of the Income Tax Act, 1961. This article provides an overview and analysis of the amendments, including changes to inquiry before assessment, expenses of audit or inventory valuation, opportunity of being heard, time limits, power to make rules, and the valuation of inventories.
Discover the amendment to Unified License (ILDO) addressing CLI spoofing by the Department of Telecom (DoT) effective from 1 August 2022. Explore the impact on ILD operators, the perspective from consumers, operators, and the author. Learn how the amendment enhances security and filters international spam calls, protecting Indian consumers. Analyze the compliance challenges and recurring costs for telecom operators to safeguard consumers from scams and ensure network security.
ITAT Indore held that registration under section 80G duly granted as giving donations to other trusts and societies to enable those trust and societies undertake their charitable activities is also one of the way of carrying out charitable activity.
ITAT Delhi held that assessee being a local authority is not engaged in business or earning profit, accordingly, penalty u/s 271B for not getting accounts audited unsustainable.
Discover why health insurance is a crucial investment for your financial growth. Learn how it safeguards your well-being, provides financial protection, and creates a solid foundation for successful investments. Avoid third-party brokers and prioritize your health before diving into the world of investments. Start your journey to financial success with confidence and assurance today.
Delhi High Court orders re-adjudication in the Subhash Chander Kathuria Vs ITO case, addressing the error of demanding tax without crediting TDS on NHAI compensation
