Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for electronics manufacturers.
New GST registration rules require biometric or Aadhaar authentication at GSK. Complete verification within 15 days to avoid ARN rejection.
Calcutta High Court quashes GST penalty and goods detention, ruling no intent to evade tax. Authorities directed to release goods within four days.
The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 sections for streamlined taxation.
CESTAT Chennai held that when the benefit of an exemption Notification is claimed, the claimant has to necessarily fulfil all the conditions prescribed under the said beneficial Notification.
Supreme Court directs various responsible ministries to jointly constitute a Committee comprising subject experts to consider the desirability of recommending a legal framework for the benefit, protection and regulation of the rights of domestic workers.
Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be completed prior to the expiry of the time limit as prescribed under Section 149(1) of the Act.
Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer to additional financial benefits, compensations, or payments that an employer provides to employees beyond their regular salary or wages. They are considered part of the employee’s income and are therefore subject to taxation.
Bombay High Court held that the management representative cannot be treated as legally trained mind for enabling an outsider practicing Advocate to defend Respondent-workman in the domestic enquiry. Accordingly, order of industrial court is liable to be set aside.
ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evidence and arbitrary assumptions.
