Have you got an intimation in DRC-01C under Rule 88D for ITC mismatch between GSTR-2B and GSTR-3B? Understanding the reasons and how to respond Have you availed ITC higher than the amount auto-populated in GSTR-2B? If you have then the chances are you can receive an intimation in form DRC-01C under Rule 88D asking for […]
The issue involves a subscription amount of Rs. 1 Crores, with a dividend rate of 0.10% over a tenure of 20 years. This brief examines the tax implications and regulatory considerations under the Indian Income Tax Act associated with this transaction.
The Income Tax Act’s Section 80, which gives taxpayers several deductions to lower their taxable income, is one of its most important parts. Since its enactment, Section 80 has undergone multiple amendments and additions.
Here we will discuss few of the consequences of non-filing or delay in filing of ITR when you are liable to do so under the Income-tax Act (“the Act”) which will lead to paying higher taxes (including interest, penalty, Delay fees ) or face legal action by the Government: 1. Non-carry forward of losses – […]
GST: First appeal of petitioner cannot be rejected for on the ground that the certified copy of the order passed under Section 74 of the Act was not annexed to the appeal
In Med-Link Devices Pvt Ltd vs DCIT case, ITAT directs re-adjudication as taxpayer fails to provide detailed expenditure of Rs. 35.2 lakhs claimed as business promotion expenses.
Read the detailed analysis of ITAT’s decision directing TDS exemption verification for FSL Projects Limited Vs DCIT. Full text available.
Madras High Court sets aside an order confirming Input Tax Credit (ITC) demand against Sanjai Gandhi without providing him a reasonable opportunity, directing a remand with conditions.
Kerala High Court dismissed appeal challenging tax assessment on compounded basis for over-the-counter liquor sales during Covid-19, citing concession given to bar attached hotel owners.
Read the detailed analysis of the Madras High Court’s judgment restraining the department from appropriating interest liability against Eicher Motors until the appellate court takes up the matter.
