Home Highlights February 2016 Year 2016 This

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1. Rate of tax on Interest Income - how the tax rate of non resident companies in their respective countries will be applied on this interest income earned by the assessee...

2. Effective date of Change in rate of tax / GST - In case of a notification in the body of which the effective date is not written, the effect of the amending notification...

3. Discretionary trust liable to pay tax at maximum marginal rate, including highest slab rate of income tax and surcharge applicable to individuals. Section 2(29C)...

4. Assessee employed by Indian entity but sent on long-term international assignment to Singapore. Salary received in India for administrative reasons, but employment...

5. Rate of GST - old rates of GST or new rates - ongoing projects construction of which had started before 01.04.2019 - definition of ‘affordable residential apartment’ has...

6. Tax Administration Reforms Commission

7. The High Court addressed the issue of liability to pay excess tax collection to the Government when the respondent's tax liability is higher than the tax collected. The...

8. Profiteering - restaurant service - reduction in rate of GST - every recipient/ customer is entitled to the benefit of the tax rate reduction by way of reduced prices...

9. Partnership firm rendered professional services in Japan, taxes withheld there. Firm claimed foreign tax credit (FTC) which was denied by tax authorities. ITAT held that...

10. This circular clarifies the scope of regularization on an "as is" or "as is, where is" basis mentioned in previous GST circulars issued based on GST Council...

11. RATES OF INCOME-TAX for the PY 2022-23 i.e. AY 2023-24 [As per previous year Budget and comparison with Budget 2023 proposals] - Notes In the new tax regime increase the...

12. Goods and services Tax - Rates of Tax for goods and Services - Schedule wise and item wise

13. Co-operative Societies - Rate of Income Tax - For normal provision same rate of tax and surcharge as applicable will continue and for computation of tax under sec 115BAD...

14. Revision u/s 263 by CIT - addition were made u/s 69 and 69C - ld PCIT has stated that the AO has not applied the rate of tax as per section 115BBE, what he meant was...

15. Refund claim - inverted duty (GST) structure - If the Assistant Commissioner arrives at his satisfaction that the actual rate of tax on the input supplies made by the...