Overview of US tax credits including refundable, nonrefundable, and partially refundable credits, with examples, forms used, and comparison with tax deductions.
MPTCA urges the Finance Ministry and CBDT to reconsider the proposed late fee for delayed tax audit reports in the Finance Bill, 2026, citing disproportionate burden.
Imposition of a 28% GST on online gaming and betting has triggered one of the most intense legal and policy debates in recent times. This blog examines this conflict in depth, moving beyond headlines to analyse the constitutional questions, industry impact, and the broader implications for India’s digital economy.
ITAT held that entire receipts cannot be treated as unexplained when income is already offered to tax. Only unverifiable expenses can be disallowed.
A practical webinar will explain the real-world approach to conducting statutory bank branch audits efficiently. The session covers planning, risk identification, documentation, and common mistakes auditors must avoid.
The issue was whether coconut falls under the fruit category for EPF applicability. The Court held it does, emphasizing liberal interpretation to extend employee benefits.
The issue was whether statutory auction fees are taxable as service consideration. The Tribunal held that such fees are compulsory levies under law and not taxable. It clarified that statutory functions performed by public authorities do not attract service tax.
The issue was non-service of an income tax order and availability of remedy. The Court allowed withdrawal and granted liberty to appeal while directing supply of the order.
The Tribunal held that the appellate authority cannot go beyond the issue of TDS credit in a section 143(1) appeal. By directing taxation of entire salary, it effectively enhanced income without proper jurisdiction. The matter was remanded for fresh examination.
The tribunal held that Renewable Energy Certificates are distinct from carbon credits under Section 115BBG and must be taxed at normal rates. The ruling emphasizes strict interpretation of concessional tax provisions.
