Delhi High Court directed to commence construction of Chamber Block of Sales Tax Bar Association being delayed for the last more than 15 years.
ITAT Delhi held that disallowance of genuine claim of depreciation merely because the depreciation figure is not reflected in column no. 45 of ITR is unsustainable in law. Action of lower authorities of disallowing the genuine claim of depreciation on a very flimsy reason is unjustified.
National Financial Reporting Authority (NFRA) issues an order imposing a penalty on CA Gautam Guha of Rupees One Lakh (Rs. 1,00,000) for failure to report the non-compliance of M/s Nicco Uco Alliance Credit Limited with Accounting Standards (AS). The NFRA initiates an investigation into the role of statutory auditors based on irregularities observed in the […]
This article presents a detailed analysis of Goods and Services Tax (GST) Registration applications across multiple zones in India, providing insights into the rejection rates and the reasons behind them. According to the data provided, an overwhelming 4,935,505 GST Registration application were received across 21 zones in the country. Astonishingly, approximately 54.57% of these applications […]
People working in many professions today deal with a variety of file formats. To use your files across operating systems, you may need to convert, compress, and alter them.
CBDT notifies the Cost Inflation Index for the financial year 2023-24, i.e., Assessment Year 2024-25, at 348, vide Notification No. 39/2023 Income-Tax, dated 12th June 2023 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 39/2023 Income-Tax | Dated: 12th June, 2023 S.O. 2571(E).— In exercise of the powers conferred by […]
CBDT notifies e-advance rulings (Amendment) Scheme, 2023 which amend e-advance rulings Scheme, 2022. Amendments are related to Board for Advance Rulings and notified vide Notification No. 38/2023 Income-Tax Dated: 12th June, 2023. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 38/2023 Income-Tax | Dated: 12th June, 2023 S.O. 2569(E).—In exercise of […]
CBDT amends Income Tax Rule 44E, 44F and FORM No. 34C to FORM No. 34EA vide Notification No. 37/2023 Income-Tax Dated: 12th June, 2023. Also Read: Corrigendum notification, No. 53/2023-Income Tax, on 26th July 2023 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 37/2023 Income-Tax | Dated: 12th June, 2023 G.S.R. […]
Goods and services tax (GST) has been an integral part of India’s economy since its inception in 2017. It has replaced the cumbersome tax system and made tax compliance easier, but in the recent times fraudulent activities related to GST have increased significantly.
ITAT held that income of the assessee which is already taxed in one head cannot be taxed under any other head by the Revenue Department.
