Gains on transfer of shares of Shares would be taxable as long-term capital gains when shares are held for more than 12 months

5 Jan, 2024

Gains on transfer of shares of Shares woul...

Introduction: In the intricate world of income tax, the classification of assets as short-term or long-term can sign...

Payments to teachers cannot be categorized as Fee for Professional Services under Section 194J

5 Jan, 2024

Payments to teachers cannot be categorized...

Introduction: In a recent tax dispute between the District Intermediate Educational Office and the Income Tax Office...

Haryana Launches One Time Settlement-2023 Scheme Pre GST tax liabilities: A Benefits for Traders and Businesses

3 Jan, 2024

Haryana Launches One Time Settlement-2023 ...

In a groundbreaking development, Chief Minister Sh. Manohar Lal has responded to the persistent appeals from Haryana's ...

If the sale deed of a joint property fails to specify the wife’s share, 50% of the rent is taxable in her hands: ITAT

3 Jan, 2024

If the sale deed of a joint property fails...

Introduction: In a recent case, the Income Tax Appellate Tribunal (ITAT) shed light on the tax implications of joint...

Mumbai Tribunal Upholds Penalty Under Black Money Act on Failure to Disclose Foreign Assets in ITR

3 Jan, 2024

Mumbai Tribunal Upholds Penalty Under Blac...

Introduction: In a recent decision, the Mumbai Tribunal affirmed the imposition of penalties on a taxpayer under the...

Supreme Court Ruling: No Penalty Under Section 271C for Belated TDS Remittance

3 Jan, 2024

Supreme Court Ruling: No Penalty Under Sec...

Introduction: In a landmark judgment, the Supreme Court, in the case of US Technologies International (P.) Ltd. v. C...

Opportunities for Chartered Accountants in the Transformative GST Era

2 Jan, 2024

Opportunities for Chartered Accountants in...

In the dynamic arena of finance, Chartered Accountants (CAs) have historically been synonymous with audit and accounts ...

Comprehensive Overview on Schedule I and Schedule II of FEMA on Capital Account Transactions

2 Jan, 2024

Comprehensive Overview on Schedule I and S...

Introduction In the realm of financial regulations, the Foreign Exchange Management Act (FEMA) plays a pivotal role,...

CBDT Records Unprecedented 8.18 Crore ITRs for AY 2023-2024

2 Jan, 2024

CBDT Records Unprecedented 8.18 Crore ITRs...

Introduction: In a remarkable feat, the Central Board of Direct Taxes (CBDT) achieved a historic milestone with an a...

31 Dec, 2023

Landmark Delhi High Court Ruling Ensures R...

Introduction:In a significant legal development, the case of A.S. Rawat vs. Dawa Tashi (AIR 2023 Delhi 252) unfolde...

DGFT Extends Deadline for Mandatory E-Filing of Non-Preferential Certificate of Origin

28 Dec, 2023

DGFT Extends Deadline for Mandatory E-Fili...

In a recent development, the Directorate General of Foreign Trade (DGFT) has issued Trade Notice No. 36/2023-24 dated D...

GST Payment Made Easy: Two New Banks Join the Ranks

28 Dec, 2023

GST Payment Made Easy: Two New Banks Join ...

In a significant move to enhance the efficiency and accessibility of Goods and Services Tax (GST) payments, the GSTN ha...

The Income Tax Department issued clarification regarding issuance of notices to taxpayers who have already filed Income Tax Returns.

28 Dec, 2023

The Income Tax Department issued clarifica...

Introduction: In the intricate world of taxation, communication from the Income Tax Department can sometimes raise e...

Online Filing of Annexure-V for Goods Transport Agencies opting Forward Charge

28 Dec, 2023

Online Filing of Annexure-V for Goods Tran...

Introduction In a significant stride towards enhancing the ease of tax compliance, the Goods and Services Tax Networ...

Reopening assessment based on mistaken factual premises is unsustainable in law

26 Dec, 2023

Reopening assessment based on mistaken fac...

Introduction: The Income Tax Appellate Tribunal, Delhi Bench "C," recently adjudicated the appeal in the case of Kun...

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