section 269ST

New Section 269ST Is Applicable As Under

1. If u accept 3 Lac or more from same person in a day even against different bills section is vi...

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started construction

Benefit of Section 54F Is Not Available If Assessee Has Not Started

In Ajay Kumar v. ITO, the division bench of the Allahabad High Court held that exemption under secti...

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Income-Tax dept

Demonetisation Error: Income-Tax Dept Errors, Mixes Up Note Ban Data

The recently launched Operation Clean Money has received ample response from taxpayers through the e...

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Minimum Alternate Tax

Foreign Tax Credit For Minimum Alternate Tax And Alternate Minimum Tax

MAT: "Minimum Alternate Tax" or "Maximum Aversion Tax": You read it correctly...

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Pre-Assessment notice

Pre-Assessment Notice To Wrong Address of Assessee Will Not Render A Valid Notice

In CIT v. Abacus Distribution Systems (India) Pvt. Ltd, the Bombay High Court held that the issue of...

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itat

As Per IT Act Co-owner, Who Invests Major Share In Property

Recently, in ShriIsola Srinivas v. ACIT, the Hyderabad bench of the ITAT held that a Co-owner, who i...

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gst registration

The GST: So Far So Good, But Not Good Enough

The proposal departs from the expert view that an ideal GST should have a few exempted commodities a...

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Income Tax Act

Internet Charges To Be Deducted From The Turnover Under Section 10A

In Qvantel Software Solutions, Hyderabad v. ITO, the ITAT Hyderabad held that the internet charges a...

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Deduction on Capital Gains

Deduction on Capital Gains Under Section 54F Can Be Extended

In ACIT v. Sri B. Surendra Choudary, the division bench of the ITAT, Hyderabad bench held thatthe ne...

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Patent™ is Taxable

Consideration Received On Sale of ‘Patent’ Is Taxable Under The Head ‘Capital Gain

In M/s. Bharat Serums & Vaccines Ltd. v. ACIT, the division bench of the Mumbai Income Tax Appel...

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Bill In Lok Sabha

This MP Proposed 5 Lakh Marriage Bill In Lok Sabha But Used A Chartered Plane For Her Wedding

In recent times, a bill was introduced in Lok Sabha by Ranjeet Ranjan, a Bihar Congress MP, who soug...

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Cashless and Digital Transactions

Cashless and Digital Transactions to boost GDP

Digital and cashless transactions would boost GDP growth of the country in a meaningful transition f...

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Trademark Objections

Some Reasons For Trademark Objections

Once a Trademark application is filed, a trademark examiner scrutinizes the application. This is don...

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SSI Exemption

SSI Exemption Not Available To A Unit Using Third Party Brand Name To Manufacture Goods

In a recent ruling, the Delhi CESTAT held that Small Scale Industry (SSI) exemption is not available...

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tax pay

SMEs To Pay 25% Tax Even If Rs 50-CR Limit Crossed in FY17

Central Board of Direct Taxes (CBDT) chairman Sushil Chandra said the income tax department will com...

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Professional Tax

Professional Tax For The Financial Year 2016-17

Professional tax is a tax levied by the various State Governments of India on salaried individuals,...

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Minimum Wages Act

Minimum Wages Act,1948 Applicable in Whole India

Minimum Wages Act envisages to fix minimum standard wage in scheduled employments thereby protecting...

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CA in india

A Practicing CA Cannot carry on Business Through Companies, Trusts and Firms: Delhi HC

In a recent ruling, the Delhi High Court confirmed the removal of a practicing Chartered Accountant...

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Tax Exemption to Patanjali

Yoga a Form of ‘Medical Relief’: ITAT Delhi Allows Tax Exemption to Patanjali Yogpeeth

In a big relied to Baba Ramdev's Patanjali Yogpeeth, the Delhi bench of Income Tax Appellate Tribuna...

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Jewellery purchase

Jewellery Purchase in Cash Above Rs 2 lakh to Attract 1% Tax From April 1

NEW DELHI: Cash purchases of jewellery will attract 1 per cent TCS (tax collected at source) from Ap...

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