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Archive: January, 2024

Posts in January, 2024

Government notifies New Financial Services in International Financial Centres

January 18, 2024 1845 Views 0 comment Print

Discover the latest financial services notified by the Ministry of Finance in International Financial Service Centres. Learn about book-keeping, accounting, taxation, and financial crime compliance services.

Increase in exempt income due to typographical error: ITAT deletes addition

January 18, 2024 1599 Views 0 comment Print

Read ITAT Mumbai’s order in Mitren Natvarlal Thakkar vs. DCIT case. Assessing typographical errors, ITAT dismisses tax evasion claims. Details in the full text.

Non-resident cannot be taxed in India unless income is proven to accrue or arise within India

January 18, 2024 5751 Views 0 comment Print

Explore ITAT Ahmedabad’s order in DCIT vs. Vimal Kanubhai Patel case. Onus on Income Tax Dept to provide evidence for taxing foreign bank credits of NRI. Full text available.

HC validates Notification No. 14/2017-Central Tax & legality of officers’ appointments

January 18, 2024 1524 Views 0 comment Print

Allahabad High Court, in case of R.C. Infra Digital Solutions vs Union of India, has recently upheld validity of Notification No. 14/2017-Central Tax, affirming legality of appointments and powers of officers.

Time Limits for Claiming ITC under Section 16(4) of CGST Act, 2017

January 18, 2024 59499 Views 2 comments Print

Learn about the crucial time limits for claiming Input Tax Credit (ITC) under GST as per Section 16(4) of the CGST Act. Explore the last dates for filing Annual Returns and the consequences of failing to claim ITC within the prescribed timeframe.

Handling Show Cause Notices under Section 73-74 of GST: A Comprehensive Guide

January 18, 2024 28347 Views 1 comment Print

Learn how to respond to Show Cause Notices under GST Section 73-74 effectively. Understand the legal provisions, assessment types, and crucial do’s and don’ts in this detailed guide.

Tax Saving through Educational Loan – Section 80E

January 18, 2024 3846 Views 2 comments Print

This article delves into the provisions of Section 80E, highlighting its benefits and clarifying common queries related to educational loans and deductions.

Insight Portal’s Risk Management Strategy for High-Risk Tax Cases

January 18, 2024 7338 Views 0 comment Print

Explore the Directorate of Income Tax’s Risk Management Strategy. Learn how high-risk cases are identified, disseminated, and verified on the Insight Portal.

Delay in filing declaration u/s 10A in e-form 20 A – MCA reduces Penalty to 20%

January 18, 2024 1758 Views 0 comment Print

Explore the case of Onecup Beverages before the Regional Director (Southern Region) as MCA reduces penalties to 20% for a delay in filing declaration u/s 10A in e-form 20A.

Classification of Import Plain Rolls: CAAR Mumbai Ruling on Polyester, Nylon, Taffeta, Satin

January 18, 2024 1323 Views 0 comment Print

Explore CAAR Mumbai ruling on classification of rolls made of Polyester, Nylon, Taffeta, Satin. Understand legal framework and implications for importers. Stay informed for compliant imports.

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