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Recently the Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) stated that the equalization levy is not eligible to be payable on the payments of advertising when the target audiences, as well as the advertisers, are located outside of India. The bench of Dr S. Seethalakshmi (Judicial Member) and Rathod Kamlesh Jayantbhai (Accountant Member) […]
Supporting the impact of higher import duties on solar modules and cells, the government has started providing incentives to the domestic solar industry. But it seems that there is no intention of the government to provide tax relief to the importers of solar modules, for support, the government is open to validating the workable plans […]
The Gujarat High Court bench of Justice J.B. Pardiwala and Justice Nisha M. Thakore has ruled that the provisional attachment must not lay the burden on the normal business activities of the taxable person. The petitioner is involved in the business of manufacturing and selling ingots and has a factory located near Rajkot Gujrat state. […]
FM Nirmala Sitharaman would present her 4th Budget for India. In the ongoing pandemic, inflation is rising and the coming budget 2022 seems to disclose actions to mitigate the Covid-19 impact on the economy. At this time FM Sitharaman was required to raise more resources via taxes and non-tax revenues. But experts and salaried class […]
Impact of No Taxes in India The system of tax is so difficult in India. As a CA student, it would diminish your taxation syllabus which is difficult for many students to crack. As an assessee in India, they would surely find it cool as they do not need to give the time to all […]
Comparing observed inadequacy with ultraist purposes like an anti-national plan to destabilize the administration is inexcusable when talking about icons like Nandan Nilekani, Infosys, and the information technology (IT) industry in general. The industry’s offering to India’s development is a matter that justifies no recurrence. Recently an article was issued in the Rashtriya Swayamsevak Sangh […]
This is surprising and complicated too specifically for advertisers of Google. The digital giant Google shall pass on ‘India’s 2% Equalisation levy’ that was initiated in April 2020 applicable to those clients of Google whose advertisements are being visible in India effective from the month of October of this year. More importantly, this levy is […]
The Mumbai bench of the income tax appellate tribunal (ITAT) has freshly stood that the penalty beneath section 271(1)(c) of the IT act 1961 shall not be imposed towards the cause that the taxpayers had wrongly availed the tax deduction of the yearly exchange service cost looking for the corresponding as revenue expenditure. The taxpayer […]
The two corona waves have ruined the entire planet and have choked production, shut down the industries, led to cash crunch but increased the registration of companies. Similar to the notion that “Action speaks louder than words” there is a saying that “facts speak better than words”. This is proved when we open the statistics […]
