The Tribunal held that the ex gratia received under the BSNL Voluntary Retirement Scheme, 2019 qualified for exemption under Section 10(10B) and not Section 10(10C), following earlier Coordinate Bench decisions. It directed the Assessing Officer to allow the exemption after verification of the revised computation.
This guide explains the presumptive taxation schemes available under the Income-tax Act, including Sections 44AD, 44ADA, and 44AE. It outlines eligibility, turnover limits, presumptive income rates, and compliance requirements for businesses and professionals.
Learn the statutory framework governing GST refunds under Section 54 of the CGST Act, including eligibility, filing procedures, documentation, and timelines. The guide explains the key conditions for securing legitimate refunds.
Learn how F&O, intraday, and delivery-based share losses should be reported in the income tax return. The guide explains ITR selection, tax audit applicability, turnover calculation, and carry-forward of losses.
The Punjab and Haryana High Court held that a GST order passed without considering the taxpayer’s reply or assigning reasons is a non-speaking order violating natural justice. The Court quashed the order and directed fresh adjudication after a proper hearing.
Customs Zones must appoint senior officers to ensure seamless coordination and priority clearance of pollution response equipment during Oil and HNS spill incidents. The initiative strengthens India’s emergency preparedness for marine pollution events.
The Government has decided that the date of application, not the date of appointment, will determine pension eligibility for compassionate appointees in specified cases. Eligible applicants who applied on or before 31 December 2003 can be considered under the CCS (Pension) Rules.
SEBI has proposed a unified advertisement framework replacing multiple entity-specific codes with a Common Advertisement Code. The proposal aims to reduce compliance burden while strengthening investor protection.
RBI has issued FAQs explaining how banks should implement swap facilities for FCNR(B) deposits, ECBs, and OFCBs. The clarifications cover loans, SBLCs, lien marking, swap eligibility, interest rates, and operational procedures.
RBI has allowed Authorised Dealer Category-I banks to exclude hedged positions arising from FCNR(B) deposits, ECBs, and OFCBs while calculating their net overnight open position. The amendment supports RBI’s swap facilities while maintaining compliance with existing risk management norms.
