If you are filing Income Tax Return as an individual or as a company, there is something called Form 26AS which captures all the tax paid on your behalf by your employer or clients What is Form 26AS? Form 26AS is also known as the Tax Credit Statement. It is your annual consolidated tax statement […]
The Bombay High Court ruled that the Delayed self-assessment tax payment cannot be tax arrear for Vivad se Vishwas Scheme. The petitioner, Macrotech Developers Limited is a public limited company incorporated under the Companies Act, 1956 having its registered office at Mahalaxmi, Mumbai. It is engaged in the business of land development and construction of […]
The Madras High Court quashed the Customs Commissioner’s order rejecting to convert drawback shipping bills to drawback-cum-advance authorization shipping bills. The petitioner is a manufacturer and exporter of garments. In the course of their business, the petitioner had obtained Advance Authorization dated 08.07.2014 from the Joint Director General of Foreign Trade (JDGFT), Coimbatore for import […]
The Government has issued the guidelines for Power Generation, Transmission, and Distribution in Special Economic Zones (SEZs). Mr. Senthil Nathan S, the SEZ Director while writing to all the Chief Secretaries of all States/UTs; All Development Commissioners, Special Economic Zones; Ministry of Power, Shram Shakti Bhawan, Rafi Marg, New Delhi; DGEP, Department of Revenue; DG, […]
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Delhi bench has held that the levy of penalty on the sole proprietor of a firm along with the concerned firm would amount to double jeopardy under the provisions of the Customs Act, 1962. The customs department imposed penalty on the appellant, a sole proprietor and […]
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chandigarh bench has recently held that the benefit of cenvat credit cannot be denied to the taxpayer on the basis of a faulty investigation conducted by the department. The appellant, a Company, sold the goods to one Sikkim Ferro Alloy, who was buyer of the goods, […]
A two-judge bench of the Madras High Court has denied the benefit of exemption of urban land tax to Chennai Port Trust under the provisions of the Tamil Nadu Urban Land Tax Act of 1996. While considering an appeal filed by the State, Chief Justice Amreshwar Pratap Sahi and Justice Senthilkumar Ramamoorthy ruled that the […]
The Lieutenant Governor (LG) of Jammu and Kashmir, Manoj Sinha while Putting speculations to rest said that the Union Territory administration would not levy any property tax on the people in Jammu and Kashmir. Earlier this month, the Union home ministry had empowered the union territory’s administration to impose the property tax following an amendment […]
The Punjab and Haryana High Court rejected the anticipatory bail to a person accused of Money Laundering worth Rs.220 Crores. The petitioner, Jagadish Nangineni and Jagdish Chandra Sharma submitted that Sobha and Chintels entered into 59 agreements to sell through which they agreed to sell 59 NPNL plots to LLPs created by Sobha at the […]
Tuesday15th June, our next webinar under our SIMPLIFIED banner on the subject ‘Denial of IGST Refund / Rebate to Advance Authorization Holder – Way Forward’ will be held between 5:00 PM and 7:00 PM. CA. NAVJOT SINGH will be our guest speaker for this webinar aimed at professionals and students alike. He has been an […]
Next Saturday, on 5th June, Taxscan is will be conducting the next program under our SIMPLIFIED banner. The Webinar will be on SEBI’s Proposed changes to the Framework of Promoters, Promoter Group & Independent Directors. CS Gaurav Pingle will be the speaker at this webinar aimed at professionals and students alike. Gaurav Pingle is an […]
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