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The income tax department has extended the deadline for a variety of compliances linked to the long-term capital gains tax exemption till March 31, 2023, which will be helpful to many taxpayers. In order to claim any exemption under the terms of Section 54 to 54GB of the Income-tax Act, 1961, the Central Board of […]
According to the Andhra Pradesh High Court, the GST department is not permitted to keep the disputed money that was unintentionally paid to them. The division bench of Justice C. Praveen Kumar and Justice A.V. Ravindra Babu tracked, the amounts furnished by the taxpayer who has filed the wrong information could not be treated as […]
The method for submitting a request for a refund by an unregistered person under the GST system has been defined by the Central Board of Indirect Taxes and Customs (CBIC). Considering the cases that have been brought to light, where unregistered purchasers, had a contract or arrangement with a builder for the provision of services […]
The Delhi Bench of the Income Tax Appellate Tribunal permitted the capital gain exemption under section 54 of the Income Tax Act on the basis of the amount identical to the capital gains that would be utilised for the acquisition of the new house. The two-member bench of Yogesh Kumar US (Judicial Member) and Dr. […]
A Division Bench of the Gujarat High Court permitted a writ petition in the matter of Goods and Services Tax (GST) refund that is to be provided, recognizing that the taxpayer of those consultants along with others can transmit with the GSTN on the portal when the specification like “May I Help You” would be […]
The Central Board of Indirect Taxes and Customs (CBIC) specified the way of processing and sanctioning IGST refunds, upheld for clause (c) of sub-rule (4) of rule 96, transmitted to the jurisdictional GST authorities under sub-rule (5A) of rule 96 of the Central Goods and Service Tax Rules, 2017. Under the rule, CBIC laid on […]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench, in a petition furnished to it stated that there would be no addition incurred on the basis of a typographical error in the ITR via the taxpayer. ITAT, before-mentioned observation when a plea was chosen before it via the taxpayer, as against the order on […]
Under Section 54(1) of the CGST Act, it is mentioned that the amount credited in the TDS form is qualified to get a refund for the applicant. Since the excess amount was present in the electronic cash ledger the applicant has furnished 3 separate applications for the repayment of excess credit inside the electronic cash […]
Non-resident Indians (NRIs) who used to purchase property in India might reveal the same toughness to follow all the complaints because of their unawareness of the Indian laws. The taxation would be an additional problem for them. The Foreign Exchange Management Act (FEMA) permits Indian citizen who lives outside the country to invest in Indian […]
