DGFT extends Free import period for Yellow Peas (ITC HS 07131010) to May 31, 2025, with no MIP or port restrictions, subject to online registration.
NCLAT Delhi held that rejection of resolution plan of appellant justified as CoC deliberated and discussed the Resolution Plan of the Appellant. Thus, resolution plan with 97% vote share of CoC rightly approved.
ITAT Ahmedabad held that CIT(A) rightly restricted disallowance on account of unexplained bank deposit and withdrawal under section 68 of the Income Tax Act to 0.3% of total Circular Trading Transaction. Accordingly, appeal of revenue dismissed.
Held that the invoices issued by the assessee contained a barcode. A barcode on a tax invoice serves as a verification mechanism, ensuring that the sale is recorded in the system and adds a layer of authenticity.
Learn how YouTube & Instagram earnings are taxed in India. Understand income tax slabs, TDS, GST rules, deductions, and compliance to avoid penalties.
Introduction to MSMEs[1] Micro, small, and medium enterprises (MSMEs) are a vital component of India’s economy, contributing significantly to employment generation, innovation, and overall economic growth. Comprising over 63 million entities, MSMEs account for approximately 30% of India’s GDP and over 45% of total manufacturing output. They play a crucial role in promoting entrepreneurship, reducing […]
It was held that in the original assessment under Section 143(1), the issue related to the deed of purchase of land was not looked into as the same was not reported in the assessee’s income before the Revenue.
This blog delves into the nuances of HRA, its exemptions, tax deductions, and the rules governing it, specifically within the Indian context.
INTRODUCTION There are a few popular beliefs in India that agricultural income is completely exempt from tax. While this holds somewhat true, the reality is far more complicated. The provisions regarding exemption from agricultural income under the Indian Income Tax Act have been viably and grievously abused as a loophole for tax evasion. Just among […]
Explore how tax policies influence business decisions, investment trends, and economic growth. Learn about tax reforms, incentives, and global competition.
