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As the Union Budget 2023 is approaching nextly, the industries are putting their points. One of the sectors is the insurance sector which asks for the exemption for health insurance and life insurance, citing that no GST would be levied on these two. Tax experts mentioned that the “Insurance sector is still facing the issue […]
Input Tax Credit (ITC) cannot be denied owing to the cancellation of the GST Registration with retrospective effect, according to a decision by a division of the Calcutta High Court (HC). The respondents in the writ petition are LGW Industries Limited & Ors. Although the respondents/writ petitioners had requested a broader relief in the writ […]
The V2 portal is Version 2 of the MCA portal, which was used to file numerous forms pertaining to corporations and limited liability partnerships. LLP Solutions have been decommissioned on the V2 portal and relocated to the V3 portal. The MCA is in the process of updating the current portal version from Version 2 to […]
The applicant’s provision of regular medical monitoring services and other logistical support to senior citizens at their doorstep does not qualify for exemption from the application of the Goods and Services Tax, which is subject to an 18% rate as determined by the West Bengal Authority for Advance Ruling (AAR). The authority noted that the […]
The Income Tax Appellate Tribunal, Gauhati Bench ruled that the finding of the id. CIT(A), acknowledging the provisions of Explanation 2 to Section 15 of the Act that consists of the salary, bonus, commission, or remuneration obtained via partner beneath the head ‘salary’ and considering the provisions of section 192 of the Act specified about […]
What is Form 16B? The amount of money deducted as property TDS is essentially shown by Form 16B. In this instance, the buyer must essentially deduct the TDS from the property at the time of sale. The amount deducted as TDS on the sale property that the buyer had deposited with the Income Tax Department […]
In the present geopolitically unstable times, India is projected to become even more appealing as an investment location with the Union Budget 2023-24 announcements on February 1. The development of the information technology industry will probably play a significant role in achieving this objective. In 2023, information technology investment in India is expected to increase […]
Simple Definition of the Form 15CA Form 15CA declares that a tax has been deducted from the payment made to an NRI. Instead of leaving the NRI taxpayers to file and pay income tax papers, this helps the Indian government collect tax efficiently at the time of the remittance. Different Components of Form 15CA Part […]
The Maharashtra Authority of Advance Ruling (AAR) held that the transfer of monetary proceeds via IVL India to the petitioner IVL Sweden shall be obligated towards the payment of the integrated goods and services tax beneath (the RCM) reverse charge mechanism. The two-member bench of M. Rammohan Rao and T.R. Ramnani sees that excluding the […]
