Advertising payments on Google Ads attract 2% TDS under Section 194C of the Income Tax Act. Businesses must deposit the tax separately and can recover the amount as ad credits after submitting Form 16A.
The High Court held that GST authorities cannot issue a single show cause notice for multiple financial years under Section 74 of the CGST Act. The ruling emphasizes that tax liability and limitation must be determined year-wise.
The High Court set aside the cancellation of GST registration because the order was cryptic and lacked reasons or reference to supporting material. The Court held that cancellation orders must reflect application of mind and clearly state the grounds for such action.
The High Court set aside the provisional attachment of property under the Income Tax Act after finding no tangible material showing risk to government revenue.
High Courts held that undervaluation disputes must be examined through assessment proceedings under Sections 73 or 74. Detention during transit is not justified if proper documents accompany the goods.
A working group has recommended creating a regulatory ecosystem for Independent Financial Advisers at GIFT-IFSC. The proposal aims to improve investor protection and expand retail and NRI participation in the IFSC ecosystem.
FEMA strictly requires that overseas property purchases by resident Indians be self-funded. Borrowing abroad or using informal arrangements can lead to regulatory violations and penalties.
CESTAT Allahabad held that demand invoking extended period of limitation cannot be sustained since there was bona fide that services fall under negative list. Accordingly, appeal is allowed and order is set aside.
Entry-level salaries in Big Four firms differ significantly between audit and advisory roles. Advisory positions generally offer higher starting pay and faster growth, while audit provides steady career progression
The High Court held that initiating recovery through a garnishee notice before examining the taxpayer’s explanation and documents was not justified. The bank account freeze was lifted and authorities were directed to reconsider the matter after reviewing the submitted materials.
