Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to progressive tax systems.
Learn about Input Credit Reversal under Sec 16(2) of GST, its conditions, impact on buyers and sellers, and compliance requirements to avoid audit issues.
In the past year, the Indian Market saw a downturn, and the FIIs sell-off could be a significant factor contributing to this. Let’s delve into the reasons behind the sell-off, its impact, and how the Indian market is still showing resilience. We will also look at the sectors most impacted and explore where FIIs might be investing their money instead.
CESTAT Delhi held that communication modules being parts of communication hubs is classifiable under CTI 8517 70 90. Accordingly, differential duty and also interest and imposition of penalty u/s. 114A set aside.
The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive 622-page legislation comprises 536 clauses, organized into 23 chapters and 16 schedules.
ITAT Delhi held that provisions of section 68 or 69A of the Income Tax Act for cash deposit during demonetization period unjustified since source of cash deposits duly explained. Hence, addition liable to be deleted.
Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxation, such mistake can be rectified via revision application under section 264 of the Income Tax Act.
Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrations and FAQs about eligibility, calculations and impacts on special rate incomes.
Explore the implications of Section 16(2)(c) of the CGST Act, balancing taxpayer rights and government revenue in Input Tax Credit (ITC) eligibility under GST.
Supreme Court examines “first offence” definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case. Detailed analysis of the ruling.
