Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Jharkhand High Court in its ruling has allowed the filing of an application for revocation of cancelled GST registration, despite the expiration of the limitation period. The decision derived from a petition furnished via a proprietor aggrieved by the dismissal of their petition u/s 107 of the Central Goods and Services Tax Act, 2017 […]
W.e.f 1st April MP Singh, 1990 batch of Indian Revenue Service (IRS) has been promoted as Chief Commissioner of Income Tax J&K and Ladakh headquarter at Srinagar by the Department of Personnel and Training and Central Board of Direct Taxes, New Delhi. Singh was posted as Principal Commissioner of Income Tax, J&K, and Ladakh for […]
The Andhra Pradesh Authority for Advance Ruling (AAR) held that Goods and Services Tax is leviable at 18% ( 9% Central Goods and Services Tax + 9% State Goods and Services Tax ) on brokerage charges by brokers, even when the produce is agricultural or exempt. The petitioner, M/s Gayatri Enterprises is a Commissioning Agent/Broker […]
The Delhi High Court ruled that just as a taxpayer does not file the returns for some period does not indicate that the taxpayer’s registration is directed to be cancelled with a retrospective date. The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja, in terms of Section 29(2) of the Act, the proper officer […]
Finding that the taxpayer operates seasonal trade in hosiery items duly backed by documentary proof, which AO investigated accepting the said transactions and resultant profit has been carried to tax, the Chandigarh ITAT said that the PCIT cannot be allowed to invoke his jurisdiction under section 263 only because he assumes that there is the […]
During remanding the case back for re-adjudication, the Mumbai ITAT stated that the prima facie onus shall be on the taxpayer to verify its claim of non-granting of TDS credit, by furnishing pertinent documents, like an appointment letter, salary slips or Form No.16 or bank statements, or any other corroborative evidence/ documents. The Bench of […]
The income tax department has discovered a scam that consists of the bogus use of permanent account numbers (PAN) to claim house rent allowance (HRA) without actual tenancy. Till now approximately 8,000-10,000 high-value matters, each concerning amounts surpassing Rs 10 lakh, have been recognized. From the examination of the alleged rent receipts totalling nearly Rs […]
A clarification has been furnished by the Finance Ministry in between the dissemination of deceptive details on social media platforms concerning the new income tax regime. The same shows that there are no additional revisions that are effective from 1st April 2024. Taxpayers are enabled to opt for either the old or new tax regime […]
A significant update for the verification process for electronically filed Income Tax Returns (ITRs) is been announced by the Central Board of Direct Taxes (CBDT). Effective from April 1, 2024, taxpayers need to use the newly notified Form ITR-V who submit their returns through electronic mode but fail to verify them electronically. Important Facts About […]
