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Recent slowdown and economic downturn had created a lot of uncertainty.

The Madras High Court has ruled on a significant Cenvat credit dispute involving the interpretation of 'within the factory of production' when intermediate products are stock-transferred between units of the same company. The decision addresses whether input credit on furnace oil used in manufacturing an exempt intermediate product can be claimed when that product is transferred to another unit for final dutiable goods production.

The Delhi High Court[1] (‘Delhi HC’) recently reaffirmed the settled legal principle that, in the absence of a specific statutory provision under the IT Act 1961, the income of a company cannot be taxed in the hands...

In the first episode of the Tax Podcast series, Maulik Doshi discusses Base Erosion Profit Sharing 2.0 where he explores the different aspects of OECD Pillar One, Pillar Two framework, and the G7 Deal.

"Explanation 4‟ is to be inserted retrospectively from 1st April, 1962 whereby the expression „through‟ used in section 9(1) shall mean and include "by means of" "in consequence of" or "by reason of".

The due date for filing the return of income and wealth for the assessment year 2015- 16 for all assessees other than (a) corporate-assessee or (b) non-corporate assessee (whose books of account are required to be audited) or (c) working partner (of a firm whose accounts are required to be audited) or (d) an assessee who is required to furnish a report under section 92E, has been extended from 31st July, to 31st August, 2015.

The proposed law further provides that such adjustment amount, if not repatriated into India within the prescribed period, the same shall entail a notional interest which would also be subject of tax.

The Organization for Economic Co-operation and Development has played a key role over the last decade or so with the introduction of key tax policies and proposals, which have helped in shaping the global tax regime.

Tribunal upholds taxpayer's contention of exclusion of indirect expenses for margin computation; verify data before considering a company as a comparable.

To provide a fillip to current economic slowdown in the country, Finance Minister Nirmala Sitharaman

The Bangalore Bench of Tribunal in the case of IBM India Private Ltd. vs ITO: ITA No. 749 to 752/Bang/2012 & 1588 to 1591/Bang/2012 (Bang) held that the assessee was liable to deduct tax at source...

Since the launch of Tax Street in 2019, we have garnered an avid readership and industry appreciation for the insights shared by our specialists in Direct Tax, Indirect Tax, and Transfer Pricing.

As per the Economic Survey, the agriculture sector contributes approximately 16% of the country's GDP for FY24 at current prices and supports about 46.1% of the population.

The key highlights of this issue include Mauritius extending the deadline for filling asset statement, change in the RRSP contribution limit in Canada, Malaysian 2018 National Budget of individual income tax and important tax provisions in 2018 budget in Ireland.

Under the existing provisions of section 80G, donation in excess of INR 10,000 made in cash is not allowed.

The CESTAT Chennai examined whether converting waste PET bottles into PET flakes constitutes 'manufacture' under the Central Excise Act, 1944. The case involved a process of sorting, crushing, washing, and drying used bottles into flakes, raising questions about whether this transformation creates a new product or merely changes the physical form of existing PET material.

Senior Partner Safir Anand and Lead Managing Associate Ritu Bhargava, explain to Aditya Rangroo of India Business Law Journal (IBLJ) why India's best startups have chosen foreign shores and whether it's possible to stem...