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Highlights / Annotations / Catch Notes For 2023

Home Highlights Year 2023

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Showing 5751 to 5800 of 6412 Records

1 ....112 113 114 115116117 118 119 120........ 129

February 4, 2023 Notes Income Tax

Provisions relating to reassessment proceedings - In cases where survey under section 133A of the Act is conducted, the AO is deemed to have information for the purposes....
February 4, 2023 Notes Income Tax

Provisions relating to reassessment proceedings - It has been proposed that the section 148 of the Act may be amended to provide that a return in response to a notice......
February 4, 2023 Notes Income Tax

Clarification regarding advance tax while filing Updated Return - a retrospective amendment has been proposed in section 140B(4) that interest payable under section 234B....
February 4, 2023 Notes Income Tax

Bringing the non-resident investors within the ambit of section 56(2)(viib) - it is proposed to include the consideration received from a non- resident also under the......
February 4, 2023 Notes Income Tax

Rationalization of provisions related to the valuation of residential accommodation provided to employees - For uniform method of computation of value of perquisite,......
February 4, 2023 Notes Income Tax

Non-Banking Financial Company (NBFC) categorization - Amendment made in sec 43B and 43D to substitute the words, “a deposit taking non-banking financial company or......
February 4, 2023 Notes Income Tax

Treatment of donation to other trusts - Exemption u/s 10(23C) and u/s 11 - Donation by trust & Other institutions to another trust & Other institutions shall be treated.....
February 4, 2023 Notes Income Tax

Omission of redundant provisions related to roll back of exemption - Now the trusts and institutions under the second regime (i.e. u/s 12A(1)) are required to apply for.....
February 4, 2023 Notes Income Tax

Registration of Trust - For removing difficulty in earlier provision of registration, it has been proposed to amend the provision of registration to allow for direct......
February 4, 2023 Notes Income Tax

Exemption to trusts and institutions - Specified violations u/s 12AB and fifteenth proviso to clause (23C) of section 10 - In case of provision approval/ registration......
February 4, 2023 Case Laws GST

Detention of goods alongwith vehicle - mistake in entering details of the transporter in the e-way bill - human error - the Department has not placed before the Court......
February 4, 2023 Case Laws GST

Taxability - Point of taxation - Vouchers are distributed to its employees or the customers - In substance the transaction between the assessee and his clients is......
February 4, 2023 Case Laws Income Tax

Revision u/s 263 - Jurisdiction of CIT when the matter is pending before the CIT(A) - It is not a separate issue, which has to be taken care in revisionary jurisdiction.....
February 4, 2023 Case Laws Income Tax

Nature of income offered u/s 44BB - PE in India or not - Receipts from leasing/hiring of RIGs - sections 9(1)(vi), 44BB and 44DA apply in different situations. - The......
February 4, 2023 Case Laws Income Tax

Bad debts u/s. 36(1)(vii) - business advances given to subsidiary company which has become irrecoverable - the loss on account of non-payment of advance of subsidiary......
February 4, 2023 Case Laws Income Tax

Unexplained investment u/s 69 - In the present case before us admittedly, whatever sale consideration the assessee has received they were received in cheques. But in......
February 4, 2023 Case Laws Income Tax

TP adjustment - Determining the Arm's Length Price of international transactions in respect of "advisory services" - we adopt judicial consistency in the absence of any.....
February 4, 2023 Case Laws Customs

Served From India Scheme - grant of excess duty credit - as per Joint Director (DGFT) they inadvertently computed the credit at 10% instead of 5% - Needless to say......
February 4, 2023 Case Laws Customs

Clandestine Removal - 997.09 carats of diamonds and 98.34 carats of diamonds - processing loss - whether allegation of substitution of diamonds was established through......
February 4, 2023 Case Laws Service Tax

Refund of excess service tax paid - time limitation - Admittedly Central Goods & Service Tax Act was introduced w.e.f. 1.7.2017 replacing the erstwhile existing Act and.....
February 4, 2023 Case Laws VAT and Sales Tax

Evasion of Tax - The driver is not required to give any information with respect to details of the invoices. He is to only produce documents to show that there was a......
February 4, 2023 Case Laws Indian Laws

SEZ unit - Levy property tax at “industrial rates” instead of “Commercial Rates” - The charging provision is under Section 87 of the 1994 Act which rather permits levy......
February 3, 2023 Notes Income Tax

Amendment in definition of 'Specified Person' for the purpose of higher deduction of tax in case of Non-filers shall exclude a person who is not required to furnish the.....
February 3, 2023 Notes Income Tax

For the benefit of TDS deduction on later date - As assessee filed ROI on accruals basis and TDS deducted on subsequent FY - On an application made by assessee within 2.....
February 3, 2023 Notes Income Tax

Assistance to authorized officer during search and seizure - For the purpose of search AO now take services of any person, entity as approved by PCC or CC or PDGIT or......
February 3, 2023 Notes Income Tax

TDS on accumulated balance of EPF u/s 192A - In case of low paid employees not furnishing PAN, TDS will be deducted at 20% instead of MMR as earlier.
February 3, 2023 Notes Income Tax

Amendment made in case of TDS of Non-Resident- In respect of units of Mutual Fund u/s 10(23D) or from specified companies u/s 10(35) has to deduct 20% or if treaty u/s......
February 3, 2023 Notes Income Tax

Deduction of interest u/s 94B shall exclude certain class of NBFC as specified which were included in the definition of banking units earlier.
February 3, 2023 Notes Income Tax

Rationalisation of Appeals to the Appellate Tribunal - as per the amendment to sec 253 revisional order passed u/s 263 by PCC or CC or an order u/s 154 are now......
February 3, 2023 Notes Income Tax

Reducing the time provided for furnishing TP report - Now any information, documents required by AO for international transaction U/s 92D has to be furnished within 10......
February 3, 2023 Notes Income Tax

Introduction of the authority of Joint Commissioner (Appeals) - In order to reduce burden or bottleneck of small cases with small amount of disputes and demand from......
February 3, 2023 Notes Income Tax

Government analyzed the wrong information reported in the SFT - Government aim not fullfill of transparency between taxpayer and department - introduce a penalty on a......
February 3, 2023 Notes Income Tax

Extension the scope of area of Penalty and prosecution provisions - if assessee fails to deduct TDS in u/s 194R, u/s 194S, u/s 194BA Penalty u/s 271C & Prosecution u/s......
February 3, 2023 Notes Income Tax

Defining the cost of acquisition in case of certain assets for computing capital gains - 'Cost of acquisition’ and ‘cost of improvement’ of certain assets like......
February 3, 2023 Notes Income Tax

TDS u/s 194-IC on Capital gain in case of Joint Development Agreement (JDA) u/s 45(5A) - the full value of consideration shall be taken as the stamp duty value of his......
February 3, 2023 Notes Income Tax

Double claim of Interest Paid on Capital Borrowed for purchase of Property - Ist U/s 24 under House Property income, 2nd deductions under chapter VI-A and 3rd u/s 48 as.....
February 3, 2023 Notes Income Tax

Increase in rate of TCS of certain remittances - To promote domestic tourism and to flow of money within India TCS rate on Overseas tour package & other foreign......
February 3, 2023 Notes Income Tax

For the purpose of inquiry u/s 142- Valuation of inventory has to be done through cost accountant now. Also, for the purpose of section 144 amended to exclude the period....
February 3, 2023 Notes Income Tax

Amendment in special tax regime for REIT & INVIT - To avoid dual Non-taxation in the hands of unit holders as well as business trust on any income distributed by such......
February 3, 2023 Notes Income Tax

Market Linked Debentures now included in the definition of securities and transfer of such market linked securities is taxable under as short term capital gain as well,.....
February 3, 2023 Notes Income Tax

Presumptive income - enhancement of threshold limits - U/s 44AD if 95% of gross receipts and payments through no-cash mode than limit of presumptive taxation increased......
February 3, 2023 Notes Income Tax

Life Insurance Policy - In order to prevent the misuse it is proposed that premium or aggregate of premiums (other than ULIP) in a year exceeding ₹5 Lakh shall be.....
February 3, 2023 Notes Income Tax

LTCG - Exemption u/s 54 and 54F - Imposing the restriction on claiming high value deduction taken by high-net-worth assessees - Maximum deduction can be claimed upto 10.....
February 3, 2023 Notes Income Tax

To cover all types of Online gaming in the ambit of tax deduction section 194BBA has proposed for deduction of tax on 'net winnings' from online gaming and sec 115BBJ......
February 3, 2023 Notes Income Tax

Introduction of new section 115BAE for newly incorporated Co-operative society - For new manufacturing cooperative societies incorporated on or after 1st day of April,......
February 3, 2023 Notes Income Tax

Facilitating certain strategic disinvestment - Definition of "strategic Investment" has been amended to include sale of sharholding by CG/SG/PSU in a Public company or a....
February 3, 2023 Notes Income Tax

Section 44BB and 44BBB - Benefit of opt-in or opt-out from presumptive taxation to certain assessee has been now limiting through insertion of proviso for no set off of.....
February 3, 2023 Notes Income Tax

Benefits for Development Authority [W.e.f. 1st April, 2024] • Insertion of the new clause (46A) of section 10 of IT Act to exempt any income arising to a body or......
February 3, 2023 Notes Income Tax

Clause (ix) of TDS deduction u/s 193 - on payment of any interest payable on any security issued by a company, where such security is in dematerialized form and is......
February 3, 2023 Notes Indian Laws

Tax Incentives to International Financial Services Centre - (i) Time limit for exemption on Transfer of assets of the original fund, or its wholly owned SPV to a......

1 ....112 113 114 115116117 118 119 120........ 129

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Latest Circulars

F: Transfer of ITC without filing ITC-02

A: Director Identification Number

A: No GST is applicable for the services provided by the Director under p...

A: Income Tax Act Revamp (Comprehensive Review): Status and Suggestion on...

N: Inland Container Depots for loading and unloading of goods - Seeks to ...

H: Reopening of Assessment upheld; NRI Status & Source of Funds questioned.

H: Service Tax Refund Claim's Jurisdiction Tussle - Recipient's Location ...

H: Assessment appeal dismissed over technicality, courts intervene to uph...

H: Hostel accommodation services taxed under GST, not exempt as residenti...

H: Liquor Tycoon's Undisclosed Income Unraveled Through Search Operation.

H: Petrol pump owner's cash deposits from sales accepted as genuine income.

H: Reassessment notices quashed, approval withdrawal invalid - jurisdicti...

H: NRI's unexplained mutual fund investment & capital gains get relief af...

H: Land sale profit: Business income or long-term capital gain? Intention...

H: Land business income surrendered during survey not unexplained, charge...

H: Taxpayer wins against tax dept's addition of unproved sundry creditors...

H: Professional fees earned abroad taxable in India, but Japanese withhol...

H: Lending business earned interest spread, no disallowance. Keyman insur...

H: Transaction Value Dispute: Insufficient Evidence for Duty Enhancement?

H: Rejected resolution plan barred from halting asset auction due to prin...

A: NON-SUBMISSION OF FORM 15G/15H TO THE COMMISSIONER FOR TDS UNDER SECTI...

A: UNDERSTANDING AMNESTY FOR WAIVER OF INTEREST / PENALTY U/S 128A OF GST...

A: Department cannot pass an order on the dated personal hearing

A: How to register a Company in India: A Step-by-Step Guide for 2024

C: Clarifications on the applicability of concessional duty under IGCR Ru...

C: Withdrawal of Master Circular on issuance of No Objection Certificate ...

C: Implementation of automation in the Customs (Import of Goods at Conces...

F: INTERMEDIARY SERVICES OR EXPORT SERVICES

F: assessment order

A: Electronic Liability Register

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