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The Orissa High Court clarified that an order by the Income Tax Appellate Tribunal (ITAT) dismissing the department’s appeal due to a low tax effect can be appealed before the High Court under Section 260A of the Income Tax Act, 1961. However, the High Court cannot entertain an appeal against the ITAT’s dismissal of the […]
The introduction of modern online tax payment systems in India has brought about enhanced accessibility, efficiency, and empowerment for both taxpayers and the government in fulfilling their civic duties. This transformation has revolutionized the way taxpayers and governmental bodies interact, simplifying the process of paying taxes and rendering it faster and more secure. In this […]
Following investigations into mobile phone manufacturers, laptop companies have come under scrutiny by tax authorities. According to credible sources, both income tax and indirect tax enforcement units are accusing laptop companies of evading taxes. Insiders familiar with the matter have revealed that intelligence agencies, including the Directorate of Revenue Intelligence (DRI), Directorate General of GST […]
An internal assessment by the income tax department reveals that insurance companies and their intermediaries have allegedly evaded approximately ₹30,000 crore in income tax since July 1, 2017, by underreporting income and fabricating expenses. The department has started taking action by issuing tax demand notices to these entities to recover the outstanding amounts, which may […]
With the impending introduction of the new Tax Collection at Source (TCS) on foreign remittances scheduled for October 1, the Travel Agents Association of India (TAAI) has issued a last-minute request to the government. They are urging authorities either to revoke this decision or postpone its enforcement until the next fiscal year, allowing for discussions […]
This summary highlights four important circulars issued in July 2023 regarding tax compliance. The first circular addresses the reconciliation of Input Tax Credit (ITC) between GSTR-3B and GSTR-2A, outlining how changes in rules have impacted ITC claims. The second circular discusses refund-related issues, clarifying that refunds are now limited to the ITC amount shown in […]
The government has gathered Rs 8.65 trillion in direct taxes as of September 16, after accounting for tax refunds. This amount surpasses more than half of its yearly goal, as reported by the Central Board of Direct Taxes (CBDT). The direct taxes collected up to this point, which also include the initial two instalments of […]
The Directorate General of Goods and Service Tax Intelligence (DGGI) cannot be prevented from opting the intelligence-based enforcement action when investigations are under process by other authorities, the Delhi High Court ruled. When any of the council would have revealed it important to investigate the applicant based on specific data, the investigation could not be […]
For managing the projects the tools of project management are used, it is generally performed by the project manager. Compared to simple projects which take lesser things complex projects need proper planning, assigning tasks, and setting deadlines, which confirms that everyone would comply with it and monitor the spent duration. The requirement for quantifying, objectifying, […]
