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Commission Agents introducing Potential Customers is ‘Service’, Claim of Commission eligible for Deduction: Gujarat HC [Read Judgment]

Taxscan Team

The Gujarat High Court in the matter pertaining to revenue held that commission agents who are introducing potential consumers will be regarded as...

Madras HC stays Special Court hearing in Tax Evasion case against Karti Chidambaram, wife

CBDT issues Norms for Computation of Income under the Head ’Salaries’

CBDT explains Broad Scheme of TDS from Salaries

CBDT issues detailed circular on TDS from Salaries for FY 2019-20 [Read Circular]

Turkey introduces 7.5% Digital Service Tax as a Part of ‘Expenditure Taxes Law’

The Turkey Government has enacted it's Digital Service Tax (DST) of 7.5% on gross revenue from the sales. The new DTS system was introduced as a part of the “Expenditure Taxes Law” under the Turkish...

VAT Increase in Nigeria as President Signs Finance Bill into Law

The President of Nigeria Muhammadu Buhari has signed the financial bill 2019 on 13/01/2020 Monday, which attempts to increase the Value-Added Tax (VAT) rate from 5% to 7.5% into the law in Abuja. The...

Contracts - Nigeria - VAT - President - Finance Bill - Taxscan

Service Tax can't be levied on Remuneration for Sales Promotion as it was already subject to Income Tax: CESTAT [Read Order]

The Customs Excise and Service Tax Appellate Tribunal (CESTAT) of Allahabad set aside the ruling of lower Tribunal and held that if the entire remuneration stands considered by Income Tax Authorities...

CBDT extends deadline of Compounding of Direct Taxes Offences [Read Circular]

The Central Board of Direct Taxes (CBDT) has extended the deadline of the Compounding of Offences under Direct Taxes till January 31, 2020. According to the Circular, taxpayers to avail of a...

Actual Payment of Business Expenditure in the relevant Accounting Year not mandatory for claiming Deduction: Kerala HC [Read Judgment]

The Kerala High Court has ruled that, Actual Payment of Business Expenditure in the relevant Accounting Year not mandatory for claiming Deduction. The appeal is filed by the revenue before the Kerala...

Income Tax Department detects Foreign Assets in recent search

The Income Tax Department conducted searches on 23rd July, 2019 in a group covering 13 premises across 3 States (Delhi, Haryana & Himachal Pradesh). The group, controlled by persons who have...

Re-Assessment on the basis of Documents already in hand of AO not Valid: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the Assessing Officer cannot invoke the provisions of section 147 and 148 to make re-assessment on the basis of facts and...

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