Subscription revenue received by assessee in Chemical Extract Service and Publication division does not qualify as ‘Royalty’ in terms of section 9(1)(vi) of the Act & Article–12(3) of India–USA DTAA.
Manufacture requires that a new distinct marketable goods should be produced.So long as a new and distinct commodity known to the market is produced, the process amounts to manufacture and not otherwise.
Pre-condition of filing of a revised return nowhere impinges upon jurisdiction of various appellate forums; NFAC can very well entertain even fresh claims without a revised return.
Deepa Satish Borse Vs Income Tax Officer (ITAT Pune) ITAT held that once it has come on record that the assessee’s matrimonial matter has already supported her case of having received the impugned sum by way of cash prior to demonetization for maintenance of herself and their sole girl child followed by similar arrangement post […]
Whether refund can be rejected without putting the appellant on notice for the ground on which refund was rejected. Insofar as the rejection of refund of Rs.13,77,971/- is concerned, the appellant were not issued with a show cause notice for the ground on which the same was rejected. The appellant did not get opportunity to present their case
Introduction of new TDS codes, which have almost doubled from 36 to 65 in last eight years, led to increase in total reported transaction in FY 2021-22 to 144 crore as compared to total reported transaction in FY 2015-16 of 70 crore. This has resulted in increase in number of unique deductees — almost doubled from 4.8 crore (in F.Y. 2015-16) to 9.2 crore (in F.Y. 2021-22).
MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 27th April, 2023 G.S.R.330(E).— In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following Scheme further to amend the National Savings Recurring Deposit Scheme, 2019, namely:- 1. (1) […]
This Scheme may be called the Sukanya Samriddhi Account (Amendment) Scheme, 2023. It shall be deemed to have come into force on the 1st day of April, 2023.
National Savings Certificates (VIII Issue) (Second Amendment) Scheme, 2023 shall be deemed to have come into force on 1st day of April, 2023.
National Savings Time Deposit (Second Amendment) Scheme, 2023 shall be deemed to have come into force on the 1st day of April, 2023.
