Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert CA Hari Agarwal, FCA.
IFRIC 12 Service Concession Arrangements, for appropriate accounting of these arrangements. These models are: 1. Financial Asset Model 2. Intangible Asset Model 3. Mixed or Bifurcated Model
Understand the calculation of House Rent Allowance (HRA) exemption under section 10(13A) of the Income Tax Act, 1961. Learn the conditions, maximum deduction limits, and an example to ensure accurate filing of your income tax return.
Unlock the potential of Corporate Social Responsibility (CSR) as a unique method for organizations to give back to society. Explore the legal obligations under the Companies Act, 2013, and discover how CSR activities enhance brand image, contribute to societal well-being, and create a positive impact. Dive into the details of CSR Committee formation, policy formulation, and the various activities that qualify for CSR expenditure. Embrace CSR as a powerful tool for fostering sustainable development and achieving societal goals.
Karnataka High Court rules Section 234E demands for late TDS returns prior to 01-06-2015 as invalid, impacting implications for income tax proceedings under IBC. The question of constitutional validity of Section 234E remains open for future consideration.
CESTAT Chennai held that CENVAT Credit towards service tax paid on meal coupons and group insurance for employees is duly available as input service.
ITAT Mumbai held that deduction of unamortized brokerage expenses claimed through revised return of income is duly allowable.
ITAT Mumbai held that disallowance of interest expenditure paid u/s. 201(1A) of the Income Tax Act on late payment of TDS is penal in nature and not compensatory.
Calcutta High Court held that TDS u/s 194H is not deductible on trade discounts given by the newspaper companies to Indian Newspaper Society (INS) accredited Advertising Agents.
In a recent ruling, the Madras High Court dismissed the writ petitions by Bharat Heavy Electricals Ltd after the Commissioner of GST and Central Excise dropped the proceedings initiated against the company.
ITAT found that the issue related to the belated filing of TDS returns and subsequent levying of fees under Section 234E of the Income Tax Act was a matter of factual verification. Thus, it was not covered under Section 154 of the Act, which only allows rectification for apparent mistakes on record.
