Taxpayers are facing revival of decades-old demands without prior notice or service of orders. The key takeaway is that such demands suffer from serious procedural lapses and merit CBDT intervention.
Explore the proposed scheme for resolving unresolved tax demands, easing taxpayer burdens, and improving compliance through fair, transparent mechanisms.
Exporters urge retrospective relief from GST Rule 96(10), citing financial hardship and court rulings deeming the rule arbitrary. Call for deletion since inception.
Rule 96(10) caused confusion for exporters due to restrictions on IGST refunds. Its deletion in 2024 offers relief, but unresolved cases remain.
CPC denies concessional tax rate under Section 115BAB, citing incorrect grounds. Learn about legal inconsistencies, remedies, and steps for affected taxpayers.
Explore the necessity of issuing notices under Section 263 post the Faceless Assessment Scheme introduction. Analyze the schemes efficacy in curbing shortcomings.
Learn how to avoid penalties under Section 270A of the Income Tax Act through understanding its provisions and utilizing Section 270AA for immunity.
Learn how CFOs, auditors, and filers can comply with Section 43B(h) effortlessly. Identify creditors, prepare lists, categorize, and manage agreements effectively.
Explore the implications of Income Tax Act’s Section 115TD(3) introduced by the Finance Act 2022 on charitable trusts. Learn about cancellation risks, tax liabilities, and potential challenges.
Explore the disparities in depreciation rates under Companies Act and Income Tax Act. Proposing solutions for tax simplification, ease of business, and increased revenue
