Begin typing your search above and press return to search.
Late Filing of GSTR-3B for entire Financial Year except 2 months: Commercial Tax Officer of Karnataka imposes 18% interest on Net Tax Liability
The Karnataka Commercial Tax Officer (CTO) has applied an 18% interest rate on the net tax liability due to the delayed submission of GSTR-3B for the...
![Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Loss-Loss-of-Chit-Fund-Utilized-Chit-Fund-Loss-of-Chit-Fund-Utilized-for-Business-Purpose-Business-Loss-ITAT-taxscan.jpg "Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]")
![Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Loss-of-Chit-Fund-Chit-Fund-Utilized-for-Business-Purpose-Business-Loss-Chit-Fund-ITAT-taxscan-.jpg "Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]")
![Participation in Chit Fund for Raising Fund: Difference b/w Subscription Amount Paid and Prize money received allowable as Income/Loss, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/09/Chit-Fund-Income-Loss-ITAT-Taxscan.jpg "Participation in Chit Fund for Raising Fund: Difference b/w Subscription Amount Paid and Prize money received allowable as Income/Loss, rules ITAT [Read Order]")
Madras High Court dismisses a plea challenging increase in fee from 3% to 5% under Tamil Nadu Chit Fund Rules, 1984 [Read Judgment]
The Madras High Court dismissed a plea challenging increase in fee from 3% to 5% under Tamil Nadu Chit Fund Rules, 1984. The Appendix II of the Tamil Nadu Chit Fund Rules, 1984 was substituted by...
Punjab & Haryana HC denies bail to person involved with syndicate for running the affairs of Company leading to alleged Fraud of more than Rs.2956 cr [Read Order]
The Punjab and Haryana High Court denied the bail to a person involved with the syndicate for running the affairs of the Company leading to alleged fraud of more than Rs.2956 crores. The...
![Service Tax not payable on Chit Transactions During 2012 to 2015: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/04/Chit-Transaction-Service-Tax-Taxscan.jpg "Service Tax not payable on Chit Transactions During 2012 to 2015: Kerala HC [Read Judgment]")
Service Tax cannot be Levied on Chit Fund Business as it would not amount to ‘Fund Management’: SC [Read Judgment]
A two-judge bench of the Supreme Court in Union of India & Ors v. M/S. Margadarshi Chit Funds (P) Ltd. etc, categorically held that the chit fund business are not subject to service tax as it was...
![Service Tax cannot be Levied on Chit Fund Business as it would not amount to ‘Fund Management’: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/07/Chit-Fund-Service-Tax.jpg "Service Tax cannot be Levied on Chit Fund Business as it would not amount to ‘Fund Management’: SC [Read Judgment]")