The article explains how seemingly simple questions in ITR-1 can create major confusion for taxpayers. It highlights practical issues relating to tax regime selection, Form 10-IEA, and salary reporting.
The High Court held that GST on ocean freight under FOB contracts cannot be levied separately when the transaction has already suffered tax. The ruling extends the anti-double taxation principle beyond CIF contracts.
This article explains which companies must appoint Key Managerial Personnel under Section 203 of the Companies Act, 2013. It highlights compliance thresholds, required positions, and governance obligations for listed, public, and private companies.
The ITAT Mumbai held that alleged accommodation entry operators cannot be taxed on the entire turnover amount. The Tribunal ruled that only the commission element embedded in such transactions, estimated at 1%, can be treated as taxable income.
