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Supplying Electricity to Occupants of Commercial Complex is subject to Service Tax: Calcutta HC [Read Judgment]

The Calcutta High Court has held that the transaction of obtaining high-tension electric supply converting it to low-tension supply, and supplying it...

Late Filers can still submit their Income Tax Returns till 31st March with a Late Fee of Rs. 10,000:...

Fund Management activities through Fund Managers registered under SEBI Mutual Funds Regulations not...

Mere Suspicion that Expenditure is for Non-Business purposes can’t be Ground for Addition: ITAT...

Manufacture of Herbal Products eligible for Income Tax Deduction: Madras HC [Read Judgment]

CBI arrests Two GST Officers in a Bribery Case

The Central Bureau of Investigation ( CBI ) has arrested two Superintendents posted at the GST office, Pune (Maharashtra) for demanding and accepting a bribe of Rs. One lakh from the complainant. A...

Delay in Statutory Audit is a Reasonable Cause for late filing of Tax Audit Report: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Jaipur has held that the delay in the completion of the statutory audit can be a reasonable cause for delay in filing of the tax audit report. Coming to the...

TDS deductible on Salary of Missionaries / Nuns: Madras High Court [Read Judgment]

A two-judge bench of the Madras High Court has held that the provisions of the Income Tax Law are apolitical and areligious in character, and salaries and grants-in-aid to nuns and missionaries are...

ITAT disallows Fake Claim for Deduction as Rent paid to Mother was an afterthought [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has disallowed a fake claim for deduction because it was proved that the rent paid to mother was nothing, but an afterthought to claim...

E-Way Bill Portal enhances New Features

The E-Way Bill portal created for generation of e-way bill across the country has informed that new features has been enhanced to the portal with a view to remove tax evasion attempts. As per a...

Looking for Tax Savings Schemes this Year? Here They Are..

This is the time most of the taxpayers are looking for suitable tax savings schemes to calculate their tax liabilities and claims which can be made during Income Tax Return (ITR) filing. While the...

Addition for Unexplained Share Capital and Share Premium can’t be made prior to 2013 Amendment: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition in respect of share capital and the share premium by treating the same as unexplained cannot be made under...

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