The cap( CBDT ) has clarified that, No requirement of scrip wise reporting for day trading and short-term sale or purchase of listed shares. There was a report in a certain section of media that...
The Finance Act, 2020 has inserted Section 194-O which elaborates on levying 1% Tax Deducted at Source (TDS) on Payments made to E-Commerce Participants, which will be applicable for the transactions from 1st October 2020...
As the major tax provision kicks off from next month, one needs to keep a tap on their foreign remittances if any as they will now attract TCS at the rate of 5% subject to...
The Gauhati High Court directed the petitioner to submit an application before the authorities for correcting information provided in the Form SVLDRS-1 as regards the disclosure of the dues from them. The petitioner Urban Systems...
In the light of the Supreme Court’s decision, the Madras High Court reaffirmed that amendment relaxing the disallowance under Section 40(a)(ia) of the Income Tax Act is retrospective and curative in nature. The revenue filed...
The Income Tax Appellate Tribunal (ITAT) held that the Amendment dated June 01, 2015, in the processing of statement of tax deducted at source under Section 200 A of the Income Tax Act, 1961 is...
The Central Board of Direct Taxes ( CBDT ) on Monday notified clarification in relation to the notification issued under clause (v) of the proviso to section 194N of the Income Tax Act, 1961 prior...
The scheme of Settlement of cases under the Income Tax Act 1961 is governed by Sections 245A to 245M contained in “Chapter XIX-A: Settlement of Cases”. In the common parlance, it is believed that the...
The Central Excise Service Tax Appellate Tribunal (CESTAT) has quashed service tax for construction of railway siding track works and also penalty imposed is also waived. The grievance of M/s NMC Industries (P) Ltd against...
The Authority for Advance Ruling (AAR) has ruled that the GST not applicable to ‘Mobilization Advance’ received prior to the implementation of Goods and Services Tax (GST). The M/s.Shapoorji Pallonji and Co.Pvt.Ltd is registered under...
The Mumbai bench of the Customs Excise and Service Tax Appellate Tribunal ( CESTAT ) has held that Tyre Bullock Carts without bullocks and driver, provided by the appellant on rent for the purposes relating...
The Customs, Excise & Service Tax Appellate Tribunal (CESTAT) Mumbai has ruled that Sahara India TV Network is entitled to utilize Cenvat credit for payment of service tax on reverse charge basis on services rendered...
The Customs Excise and Service Tax Appellate Tribunal (CESTAT) held that the Swachh Bharat Cess paid on input services has to be available as Cenvat Credit and the same can be discharged by utilizing Cenvat...
The Delhi High Court held that the changeability of the activity on facilitating land and other related activities to attract service tax under the head ‘Real Estate Agent’. The respondent is engaged in the business...
The Gauhati High Court has ordered the revenue department to issue fresh Show Cause notice raising demands for recovery of service tax from BSNL and exclude the “non-taxable” services from the services provided at the...
The Chennai bench of the Customs Excise and Service Tax Appellate Tribunal (CESTAT) held that the Service Tax on consideration received by the appellant from the Foreign Service Recipient under Storage and Warehousing services cannot...
The Customs Excise and Service Tax Appellate Tribunal (CESTAT), Bangalore has held that Service Tax Refund paid are not applicable to subsequent invoices issued as per the request of clients. The appellant M/s TPI Advisory Services...
The Customs Excise and Service Tax Appellate Tribunal (CESTAT) held that the right to collect parking fees given by the mall owners is nothing but a consideration provided to the appellant by the mall owners....
The Income Tax Appellate Tribunal (ITAT) in Mumbai held that unabsorbed depreciation pertaining to assessing year AY 1997-98 to AY 2001-02 can be carried forward and set off in the later years. The assessee company...
The Ministry of Finance on February 12th has notified a new set of rules called the Tribunal, Appellate Tribunal, and other Authorities (Qualifications, Experience and other Conditions of Service of Members) Rules, 2020. The government...
The Madras High Court has held that in the case of an error in short-levy of service tax, for the purpose of ratifying the assessee is left with 2 options either by suo-moto or by...
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