ICAI President elected as IFAC Board Member
CA. Atul Kumar Gupta, President, The Institute of Chartered Accountants of India (ICAI) has been elected as the Board Member of the International Federation of Accountants (IFAC) at the IFAC Council Meeting in November 2020.
Deciphering Neurofinance: Why we’re not very good at analyzing financial markets and unable to make rational investment decisons
Despite the surge of automated processes, human involvement still dominates the realm of investing. From a biological perspective, we are rational beings, yet our actions deviate from the normative economic theory. Fama's efficient market hypothesis,
79 Days of Delay In Filing Appeal under Income Tax Act: Delhi HC Condones Delay Considering Review proceedings Initiated by Assesse [Read Order]
The Delhi High Court condoned the 79 days of delay in filing an appeal under the Income Tax Act, 1961 considering the time review proceedings initiated. The assessee filed the review application for the Income
Understanding Tax Implications for Online Casino Winnings in India
A guide on the tax implications for online casino winnings in India, highlighting legal nuances, player responsibilities, and common practices. Tax Implications for Online Casino Winnings in India The online casino scene has captured the
TDS on Indirect Transfer of Capital Assets deriving Value substantially from Assets situate in India prior to Retrospective Amendments hit by Doctrine of Impossibility: ITAT
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that the TDS on indirect transfer of capital assets deriving value substantially from assets situated in India prior to retrospective amendments hit by doctrine of impossibility.
Delay of One Day in Filing Audit Report Due to Technical Glitches of Income Tax Portal: ITAT sets aside Penalty u/s 271B [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur Bench, has recently, on finding that the delay of one day in filing audit report was due to technical glitches on the Income Tax Portal, set aside the
Role Indian Tax Laws Plays in Gambling
The year 2020 has witnessed a rapid increase in the number of players on online casinos. Amid the pandemic lockdown, people have engaged in online gambling more than ever before. With the rise in popularity of
GST Data reveals 50% increase in number of Indirect Taxpayers
A preliminary analysis of the GST data reveals that there has been a 50% increase in the number of indirect taxpayers, besides a large increase in voluntary registrations, especially by small enterprises that buy from
How Do the U.S. Presidential Elections Impact Gold Prices
The U.S. Mid-term elections are just around the corner. In November, congressional seats will be up for grabs, which will help determine if the democrats remain in power or if the republicans re-take either the
How are Casino Winnings Taxed in Different Countries?
Picture this: You're sitting at a blackjack table, feeling the rush of adrenaline as you play your cards just right. Suddenly, luck is on your side, and you hit the jackpot. The chips are stacked
5 Most Popular Indian Online Casinos
Gambling is a popular pastime in India, with many people looking to the internet to find the best chance to play their favorite games and win real money. With so many different choices available, it
IBBI publishes Revised Syllabus and other details of Valuation Examinations
The Central Government notified the commencement of Section 247 (relating to valuers) of the Companies Act, 2013 with effect from 18thOctober, 2017. It also notified the Companies (Registered Valuers and Valuation) Rules, 2017 on 18thOctober,
ITAT Annual Digest [Part 50]
This yearly digest summarizes all the ITAT stories published at taxscan.in in 2023 Penalty Against Agriculturist for Accepting Loan Through Banking Channel u/s 269SS of IT Act, 1961: ITAT Vijayaben G. Zalavadia vs JCIT CITATION:
Assessing Officer is bound to look at the Litigation History of the Assessee: Delhi HC [Read Order]
In AVTEC Limited v. DCIT, the division of the Delhi High Court held that AO is bound to look at the litigation history of the assessee and cannot expect the assessee to inform him. In
Chartered Accountant vacancies at HPCL Rajasthan Refinery Ltd. (HRRL)
The HPCL Rajasthan Refinery Ltd. (HRRL) has invited application from qualified Chartered Accountant for the designations etc. which will be decided later as per Company policies. However, grade and salary will remain the same as