Explore Section 119A of the Income Tax Act and its implications. Understand the Taxpayer’s Charter and the guidelines set by the Board for its administration.
What is Valuation? In finance, valuation is the process of determining the present value of an asset. Valuations can be done on assets or on liabilities. In a business context, it is the price that a third party would pay for a given asset. Valuation is a very subjective thing. Value of same product can […]
Understanding the implications of Section 13(1)(d) and Section 11(5) in Income Tax Act. Learn about the restrictions on exemptions and investments for Charitable or Religious purposes.
Understanding the Section 2(6)(v) condition of the IGST Act 2017 and how it relates to filing GST returns for export of services.
Agriculture is exempt from income tax under Section 10(1). Taxes on agricultural income falls under Entry 46 in ‘State List’ under the Constitution of India. Thus, only the State Governments are competent to enact legislations for taxation of agricultural income and levy income tax. Thus, farmers who have no other sources of income are not required to file income tax returns.
Learn about the E-Invoicing System under GST Act. Discover the history of e-invoicing implementation and understand its applicability for businesses.
Get a comprehensive look at the draft directors report for the financial year 2021-22. Explore the company’s financial results and capital & reserves.
CESTAT held that the assessing authority has not found any undeclared machines in the manufacturing premises or factory of the assessee and duty has been demanded based on assumptions and presumption, which is not permissible under the scheme of compounded levy on the product manufactured by the assessee. Therefore, the appeals filed by the assessee were allowed by the CESTAT.
Understanding Section 74 of CGST Act, 2017: Learn about the provisions for tax determination and demand adjudication by Proper Officer.
Introduction The past half century has been a period of substantial change in tax policy in the advanced democracies. A particularly prominent part of this transformation has been the dramatic tax cuts on the rich across the Organization for Economic Co-operation and Development (OECD) countries. Recently, the newly elected government in United Kingdom (UK) unveiled […]
