Latest Tax Updates, News, Articles & Notifications
No Income Tax in India for salary earned by a Korean Resident outside India: ITAT Delhi Amit Laroya Vs ACIT (ITA No.1457/Del/2022) Facts: 1. Amit Laroya, the appellant, challenged the … Read More
ITAT Mumbai judgement on whether employment includes self employment for the purpose of determining residential status ACIT Vs Nishant Kanodia (ITA No. 2155/Mum./2023) Facts: 1. The assessee, being an individual, … Read More
Stock difference should be taxed as business income and not unexplained investment: ITAT Chennai Ethiraj Hotel Mart (ITA No.: 1086/CHNY/2022) Facts: 1. The appellant/assessee operates in the wholesale trading sector, … Read More
Mere outsourcing of services to Indian subsidiary would not give rise to PE in India: ITAT Delhi M/s EXL Service. Com INC (ITA No. 4989/DEL/2014) Facts: 1. Exl India has … Read More
CBIC notifies the changes recommended in the 43rd GST Council meeting through following Notifications : Notification No 17/2021 to 27/2021 of Central Tax Dated 1st June 2021 Notification No No. … Read More
1. RBI in its Circular No RBI/2021-22/45 dated 31st May 2021 stated that In view of the order of the Supreme Court, the circular banning the use of digital currencies … Read More
MCA relaxes levy of additional fees in filing of certain Forms under the Companies Act, 2013 and LLP Act 2008 vide General Circular No. 06/2021 Dated: 03/05/2021. In view of … Read More
In the case of transfer of long term capital asset, Income Tax on capital gains is determined by deducting indexed cost of acquisition/ improvement from the sale consideration. Finance Act … Read More
CBDT notifies Income Tax Cost Inflation Index for Financial Year 2020-21 (Assessment Year 2021-22) vide Notification No. 32/2020-Income Tax dated 12th June 2020 at 301. Cost Inflation Index helps taxpayer … Read More
The Key Decisions of 40th GST Council Meeting held on 12th June 2020 are as follows: 1. Nil late fees for GSTR-3B if there is no tax liablity, for all … Read More
