Andhra Pradesh High Court held that motor vehicles deployed to Central Deposit Yard Premises are not subject to Motor Vehicle Tax and are entitled to get exemption as contemplated in Motor Vehicles Act.
RBI provides an update on the withdrawal of ₹2000 denomination banknotes. As of June 30, 2023, 76% of the ₹2000 banknotes in circulation have been returned. Learn more about the current status and the next steps for depositing or exchanging these banknotes.
Gujarat High Court held that if the company has ceased to exist as a result of the approved scheme of amalgamation then in that case, the jurisdictional notice issued in its name would be fundamentally illegal and without jurisdiction.
Ministry of Finance has issued a notification amending the National Savings (Monthly Income Account) Scheme, 2019 by National Savings (Monthly Income Account) (Fourth Amendment) Scheme, 2023. Learn about the changes made, including revised maximum investment limits. Stay updated with the latest amendments to this savings scheme.
Ministry of Finance has issued a notification amending the Post Office Savings Account Scheme, 2019. Learn about the changes introduced, including an increase in the number of adults allowed for joint accounts and new provisions for withdrawals. Stay updated with the latest amendments to the savings account scheme.
Ministry of Finance has issued a notification introducing amendments to the Government Savings Promotion General Rules, 2018. Learn about the changes made, including provisions for account opening, operation, nomination, and payment of claims. Stay updated with the latest rules governing government savings schemes.
CESTAT Ahmedabad rules that to avail abatement under Notification No. 01/2006-ST, the cost of material provided by the service recipient must be included in the gross value of construction service.
The Income Tax Appellate Tribunal (ITAT) in Mumbai classifies investment in ULIP Policy as ‘Capital Asset’, with accretion on surrender taxable under ‘Income from Capital Gains’ and not ‘Income from Other Sources’.
A detailed analysis of the ITAT Amritsar’s decision declaring an assessment order void ab initio due to the wrong section of jurisdiction being cited. An insight into the Indian tax law nuances and key takeaways from the case.
CESTAT Ahmedabad holds that no separate service tax can be levied on the commission received by the appellant from BSNL, when it’s included in the gross sale price of SIM cards. This verdict aligns with previous judgments favoring the assessee.
