A new development from the National Stock Exchange of India is looking at implementing XBRL for listed entities, replacing PDF format. The shift is aimed to streamline corporate filings and ease the compliance burden.
ITAT Ahmedabad held that addition on account of deemed dividend as per section 2(22)(e) of the Act unsustainable in the hands of non-shareholders.
ITAT Mumbai held that addition towards bogus purchases unsustainable if the alleged bogus purchases show gross profit higher than the regular gross profit.
ITAT Surat held that deduction under section 54B duly allowable in case the nature of land was converted from agriculture to non-agriculture purpose just before transfer of land.
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 41/2023-Income Tax | Dated: 14th June, 2023 S.O. 2625(E).—In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following further amendments to the Notification of the […]
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 40/2023- Income Tax | Dated: 14th June, 2023 S.O. 2624(E).— In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Act) and to give effect […]
Discover how the latest import duty reductions on refined soybean and sunflower oils can help consumers enjoy these essential commodities at lower prices.
Read about the recent modification in agency commission for the collection of indirect taxes through the ICEGATE payment gateway. The Reserve Bank of India (RBI) has issued a circular instructing agency banks on the submission of commission claims for GST receipts, direct tax collection, and indirect tax collection via ICEGATE.
earn about the Sovereign Gold Bond Scheme 2023-24 issued by the Government of India in consultation with the Reserve Bank of India. Discover the eligibility criteria, features, and investment details of these bonds. Find out how to invest, the issuance form, payment options, interest rates, tax treatment, and tradability of the Sovereign Gold Bonds.
ITAT Mumbai held that that the joint ownership of the property would not stand in the way of claiming exemption under Section 54F of the Income Tax Act.
