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A senior government official informed Business Standard that in the forthcoming Interim Budget on February 1, Union Finance Minister Nirmala Sitharaman is considering the introduction of further tax waivers or exemptions exclusively applicable to the Old Income Tax regime. The proposed measures may involve extending income tax exemption thresholds to around Rs 7 lakh and […]
The Competition Commission of India received a welcome relief as GST authorities dropped a demand for ₹7.08 crore in service tax. The ruling clarified that the regulator isn’t required to register for service tax, negating any liability for the tax. The breakdown of the ₹7.08 crore demand includes ₹6.78 crore for service tax, along with […]
The Tamil Nadu Electricity Board has been granted relief by the Chennai bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT). The bench considering the limitation has quashed the service tax demand on the Goods Transport Agent (GTA) services. The Tamil Nadu Electricity Board, the appellant in this case, is involved in the […]
The Madras High Court relieved the taxpayer, Tvl Marimuthu Venkateshwaran on cancellation of GST registration because of the non-filing of tax returns as of problems related to health. The writ petition furnished under Article 226 of the Constitution of India for issuance of a writ of Certiorarified Mandamus, asked for the records of the Assistant […]
The Central Board of Direct Taxes (CBDT) directed that the Indian Laws and the double tax avoidance treaties give enough security to NRIs and expats who were helpless in India because of Covid-19 from the possibility to furnish taxes in 2 countries on a similar income in FY21. CBDT told in the circular provided on […]
The CBDT which stands for The Central Board of Direct Taxes provided a big relief to all the taxpayers. CBDT through an order directed all the authorities to not send any adverse message and letters to any tax assessee for mistakes during the first quarter of Financial Year 2020-21. CBDT with this step reflecting that […]
The union finance minister Nirmala Sitharaman has finally taken some relief measures on the basis of currently widespread coronavirus pandemic. The decisions are taken to provide relaxation to the various sectors as well as to the taxation industry. In her video conference with all the state finance ministers and panel, she has talked on all […]
Amidst the degrading situation of the Indian economy caused due to the Corona Pandemic, several industries are looking forward to the Indian government to support the businesses that are constantly stumbling due to the ups and downs in the market. Several industries are seeking some sort of relief in payment policies of GST Check out […]
Paying heed to the current situation in two very fresh Union Territories of India i.e. Jammu & Kashmir and Ladakh, the Indian government has provided relief for those struggling with tax filing and compliance due to unavailability of the internet in the region. In a most recent statement, the Central Board of Direct Taxes (CBDT) […]
