Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Income Tax Appellate Tribunal (ITAT), the Mumbai Bench, in its recent ruling, has recently granted approval to Cleartrip’s claim regarding their expenses on advertising and sales promotion. Cleartrip Private Limited, the assessee, had sustained costs related to advertisement and publicity. The Assessing Officer (AO) contended that since Cleartrip and its subsidiaries were engaged in […]
Non-resident Indians (NRIs) need to get a Tax Deduction at Source (TDS) certificate in order to avoid having taxes deducted on income generated in India. NRIs cannot utilize Form 15G/H to excuse themselves from TDS on their income as residents may. Instead, they must submit an application to the assessing officer to get a certificate […]
The tax deducted at source under Section 194C(2) of the Income Tax Act, 1961 does not get levied if there is no contractual or sub-contractual relationship between the joint venture and its constituencies, the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) ruled. The taxpayer Joint Venture (JV) was created via RAMKY Infrastructure Ltd […]
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 […]
The Allahabad High Court ruled that in cases where goods are accompanied by specified documents like invoices, either the consignee or consigner is considered the owner of the goods. Under Section 129(1)(a) of the Goods and Services Act, 2017, penalties, if applicable, should be charged. A consignment was being transported for M/s Tata Steel Ltd. […]
The innovation as well as the development services furnished to the German company amount to the export of the services, Punjab and Haryana High Court ruled. The taxpayer does not function in any marketing of the products of Fresenius Kabi Deutschland GmbH Germany (FKDG) nor any product is delivered via FKDG to the same, as […]
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 Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that damage related to the right to sue is considered a capital receipt and is not subject to taxation. The bench, comprising Amit Shukla (Judicial Member) and Amarjit Singh (Accountant Member), observed that Section 6 of the Transfer of Property Act explicitly outlines […]
The West Bengal Authority for Advance Ruling (AAR) has stated that when providing services to the State Government, the value of supply must encompass both monetary and non-monetary considerations. Aryan Flour Mills Private Limited, a flour mill located in West Bengal, offers services to the State Government by processing wheat into fortified flour for distribution […]
