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  • Article

    No Disallowance U/s 40A(3) Where Cash Payments Are Genuine And Verifiable

    For Assessment Year 2014–15, the taxpayer, Sabha Chand, engaged in the retail sale of liquor, reported turnover of INR 6.56 crores with a net profit...
    IndiaTax
    Aurtus Consulting LLP
    Aurtus Consulting LLP
  • Article

    No GST On Petrol And Other Petroleum Products

    Chief Economic Advisor Mr. Arvind Subramanian, on this Sunday, stated that Petrol and other petroleum product shall be outside the ambit of GST regime after its roll out.
    IndiaTax
    AMLEGALS
    AMLEGALS
Article

No Pre-deposit For Penalty-only Appeals If SCN Issued Prior To 1 October 2025 When Provisions Amended To Mandate Such Deposit

The Hyderabad Bench of the GSTAT has ruled on whether an assessee must remit a 10% pre-deposit under Section 112(8) of the CGST Act for penalty-only appeals when the underlying order predates the October 2025 amendment introducing this requirement. Drawing on precedent from the Delhi High Court's interpretation of similar amendments to Section 107(6)...
IndiaTax
Lakshmikumaran & Sridharan
Lakshmikumaran & Sridharan
  • Article

    Northern Operating Services Alert

    The Tribunal dismissed the appeal and cross-appeal of Revenue Authorities and the Taxpayer respectively as the matter in dispute was resolved in MAP proceedings
    IndiaTax
    Nangia & Co
    Nangia & Co
  • Article

    PAN Aadhaar Linking Deadline- 31 March 2021

    Permanent Account Number (PAN) is the Indian Tax Identification Number. In India, there is a requirement to obtain an Aadhaar, which is a Unique Identification Number and serves as proof of identity in India.
    IndiaTax
    Nexdigm Private Limited
    Nexdigm Private Limited
  • Article

    Points To Remember For Employee Stock Option Plan (ESOP) Taxability Of Global Mobile Employees

    ESOP is an option/choice/right given to employees to acquire shares of the company at a future date and at a predetermined price i.e. exercise/grant price.
    IndiaTax
    Nexdigm Private Limited
    Nexdigm Private Limited
  • Article

    Profit On Transfer Of Shares Acquired Under Stock Option Plan Taxable As ‘Capital Gain' Not ‘Salary'

    The Chennai Bench of the Income Tax Appellate Tribunal in a recent ruling in Dr. Muthian Sivathanu v Assistant Commissioner of Income-tax [ITA No. 553/2018] held that proceeds received on sale of shares ...
    IndiaTax
    Khaitan & Co.
    Khaitan & Co.
  • Article

    Purchase And Sale Of Shares As An Intermediary Will Be Taxable As Business Income And Not Capital Gain

    The assessee is a wholly owned Indian subsidiary of Tractebel S.A., Belgium (‘TSA'). In India, TSA had entered into Joint Venture (‘JV') with Jindal Thermal Power Company Ltd (‘Jindal group').
    IndiaTax
    Nangia & Co
    Nangia & Co
  • Article

    Registration Under Section 12AA Of The IT Act – Proviso To Section 2(15) Has No Bearing On The Grant Or Denial Of Registration

    In that case, the assessee trust, incorporated under Punjab Town Improvement Act, 1922, filed application seeking registration under Section 12AA of the Act, which was rejected by CIT.
    IndiaTax
    Vaish Associates Advocates
    Vaish Associates Advocates
  • Article

    Rollback Provision Available In Respect Of Bilateral Advance Pricing Agreement Under The India-Korea DTAA

    A revised DTAA between India and Korea for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to taxes on income was signed on 18 May 2015 and came into force on 12 September 2016.
    IndiaTax
    Khaitan & Co.
    Khaitan & Co.
  • Article

    Safir Anand, Ritu Bhargava Speak To IBLJ On Why India's Unicorns Choosing Foreign Shores

    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...
    IndiaTax
    Anand & Anand
    Anand & Anand
  • Article

    Sanction Under Sec. 279 Of The Income Tax Act, 1961 For Prosecution – Conditions & Obligations

    In the case Indo Arya Central Transport Limited & Ors. vs. Commissioner of Income Tax (TDS), Delhi -1 & Anr. (http://lobis.nic.in/ddir/dhc/SKN/judgement/24-03-2018/SKN12032018CW39642017.pdf) ...
    IndiaTax
    Vaish Associates Advocates
    Vaish Associates Advocates
  • Article

    Supreme Court To Clarify The Position Relating To Arrest Provisions Under GST

    The Hon'ble Supreme Court, vide its order dated 29 May 2019, while refusing to interfere with the order of the Bombay High Court, has held that the position regarding the arrest provisions under Central Goods and Services Tax Act, 2017 ...
    IndiaTax
    Khaitan & Co.
    Khaitan & Co.
  • Article

    Tax Residency Determination Of Individuals: A Sea Change?

    Recently, the Finance Act, 2020 (FA 2020) has made changes to determination of tax residence of individuals under the Indian Income-tax Act, 1961
    IndiaTax
    Khaitan & Co.
    Khaitan & Co.
  • Article

    Taxability Of Gifts And Perquisites Provided By Employer To Employee

    The Ministry of Finance issued a Press Note on 10 July 2017 clarifying issues around applicability of Goods and Services Tax (GST) on transactions between an employer and employee, as detailed below:
    IndiaTax
    Dhruva Advisors LLP
    Dhruva Advisors LLP
  • Article

    TDS And TCS Provisions Under GST Notified

    The Ministry of Finance, vide Notification No. 50/2018-Central Tax and Notification No. 51/2018-Central Tax
    IndiaTax
    Khaitan & Co.
    Khaitan & Co.
  • Article

    Fundamentals Of UAE's FATCA/CRS Compliances

    Trupti Mehta - Director, Setup & Expansion, GCC Region, Nexdigm set the tone of the webinar by highlighting the importance of compliance with the latest regulations and how complicated laws can be managed by financial institutions ...
    IndiaCompliance
    Nexdigm Private Limited
    Nexdigm Private Limited
  • Article

    Ordinance Issued To Extend Deadlines U/Taxation And Benami Acts Amid COVID-19

    The Union Finance Minister vide Press Release dated March 24, 2020, has made some announcements in relation to the relief measures relating to statutory and regulatory compliance matters across sectors amidst COVID-19 outbreak.
    IndiaCoronavirus (COVID-19)
    S.S. Rana & Co.
    S.S. Rana & Co.
  • Article

    Delayed Payments, Lack Of Formal Financing In MSMEs Affect Job Creation

    India's Micro, Small and Medium Enterprises (MSME) are the backbone of the economy, contributing significantly to employment and GDP.
    IndiaCorporate/Commercial Law
    S.S. Rana & Co.
    S.S. Rana & Co.
  • Article

    Indian Subsidiaries Of Foreign Companies Virtual Stock Options Under GST

    Virtual Stock Options (VSOP), also known as Phantom Stocks, are given by Companies to incentivize and retain employees.
    IndiaCorporate/Commercial Law
    Kochhar & Co.
    Kochhar & Co.
  • Showing 361–380 of 3453 results

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