A division bench of Delhi High Court comprising of Chief Justice G Rohini and Justice Sangita Dhingra Sehgal has issued notice to Union Government and Reserve Bank of India (RBI) challenging the surcharge levied on credit

The Kerala High Court in M/S Fabindia Overseas (P) Ltd. v. The Asst.Commissioner (Assessment), held that the levy of Surcharge on Retailers on the basis of stock imported into the State under Section 3(1A) of

What exactly is this surcharge? A surcharge is an extra income tax to be paid by the taxpayers earning a higher income i.e., beyond a certain limit. Put simply, this is for high net-worth individuals

Taxation and Investment regime for Pradhan Mantri Garib Kalyan Yojana (PMGKY) commenced on Dec 17 &open for declarations till 31st March '17. The Central Government has decided that up to 30.12.2016,  the payment towards tax,

The Income Tax Appellate Tribunal recently proclaimed that Surcharge and Education Cess are not tax and therefore, it should not include for computing tax. The tribunal noted that the tax effect of Rs. 90,000/- and

The Kolkata bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that Educational Cess (EC) and Social Welfare Surcharge (SWS) were in the nature of surcharge and non-levying of Educational Cess applies to

The Income Tax Appellate Tribunal (ITAT) Hyderabad, on March 29th earlier this year passed an order to delete Educational Cess from assessment as it is an additional Surcharge as per the INDIA-UAE Double Taxation Avoidance

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that the levy of surcharge and cess cannot exceed the tax rate of 10%, as per India –

A division bench of the Orissa High Court has held that surcharge under Section 5A of the OST Act is to be levied before deducting the entry tax paid by the dealer pursuant to the

On 01.10.2022, the Central Board of Direct Taxes (CBDT), through notification 111/2022, inserted the provision for Application for recomputation of income under sub-section (18) of Section 155 as Rule 132 of the Income Tax Rules,

In order to encourage investment in the capital market, it has been decided to withdraw the enhanced surcharge levied by Finance (No. 2) Act, 2019 on tax payable at special rate on income arising from

The Hyderabad bench of the Income Tax Appellate Tribunal ( ITAT ) recently held that the firm was only liable for a levy surcharge when the total income of that firm exceeds one crore. Assessee

The Income Tax Appellate Tribunal (ITAT), Pune bench has held that surcharge, education cess, and additional surcharges are eligible for minimum alternate tax (MAT) credit under section 115JAA. The appellant, Adurjee & Bros Pvt. Ltd.

In a major relief to M/s. BCD Travels India Private Limited, the Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) quashed service tax demand on commission received on fuel surcharge. Entertaining

In a setback to Sky Automobiles, the Orissa High Court upheld the reopening of the computation of surcharge. The petitioner, M/s. Sky Automobiles challenged a notice issued by the Deputy Commissioner of Sales Taxes (DCST)