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Archive: 03 July 2024

Posts in 03 July 2024

Payments Made to Retiring Partners: taxable income Vs. applications of firm income

July 3, 2024 2211 Views 0 comment Print

Explore the ITAT Mumbai’s decision on payments to retiring partners by Deloitte Haskins and Sells LLP. Understand why it’s not considered income under tax law.

Madras HC Sets Aside Order on Alleged Circular Trading & ITC for Ignoring Reply

July 3, 2024 1386 Views 0 comment Print

Madras High Court quashes GST demand against Tvl. Urayur Cotton Company due to failure to consider the petitioner’s reply on circular trading and reverse charge mechanism.

Interest from Co-Op Banks Eligible for Section 80P(2)(d) deduction as they are Co-op- Societies: ITAT Mumbai

July 3, 2024 1047 Views 0 comment Print

Explore ITAT Mumbai’s verdict granting deduction under Section 80P(2)(d) to Grand Paradi Co-op Housing Society, clarifying co-op banks as cooperative societies in banking business.

Save the Brokers: SEBI’s Transparent Pricing Circular a Regulatory Risk

July 3, 2024 1269 Views 0 comment Print

SEBI’s new circular on ‘True to Label’ pricing creates regulatory risks for brokers and customers alike. Understand its impact on fees and market dynamics.

GSTR-1 can be amended even after the due date is crossed: Orissa High Court

July 3, 2024 1188 Views 0 comment Print

Learn about the Orissa High Court’s ruling allowing GSTR-1 amendment after the due date for M/s. Chintamaniswar Constructions Pvt. Ltd. Details on rectification process and implications.

Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulation, 2011

July 3, 2024 10281 Views 0 comment Print

Stay informed on SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Regulation 29: Disclosure of acquisition and disposal of shares in target companies. Essential for investors!

IFSCA Revises Fee Structure for BATF Service Providers

July 3, 2024 798 Views 0 comment Print

IFSCA announces new fee structure for Book-keeping, Accounting, Taxation, and Financial Crime Compliance Services providers under the 2024 regulations. 

Quashing Rape FIRs for Monetary Settlements would Mean Justice is for Sale: Delhi HC

July 3, 2024 702 Views 0 comment Print

Delhi HC rules that quashing rape FIRs based on monetary settlements implies justice is for sale, emphasizing the importance of trial in serious allegations.

GST Update: CBIC Instruction on initiation of recovery proceedings under GST

July 3, 2024 9282 Views 0 comment Print

Timeline within which tax dues shall be paid after receiving FORM GST DRC-07 and consequences of non-payment of dues within timelines?

Undisclosed Sources of Income and Tax Rate Applicable [Section 68-69D of Income Tax Act,1961]

July 3, 2024 2448 Views 0 comment Print

Discover the tax implications and rates for undisclosed sources of income under Sections 68-69D of the Income Tax Act, 1961. Learn about cash credits, unexplained investments, and more.

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