Latest update 01.04.2024

Expecting Refund Of Rs. 6,329 Crore From Income Tax Department, Says Infosys

Infosys expects a refund of Rs. 6,329 crore from the Income Tax Department, the country’s second largest IT services company said. It also informed the stock exchanges about tax demand to the tune of Rs.  2,763 crore, citing various assessment orders. Read more

Zomato gets tax demand order of Rs. 23.26 crore

Zomato gets tax demand order of Rs.23.26 crore Read more

Taxability of Personal/Corporate Guarantees under GST

Banks have long since developed an unwritten convention of obtaining personal/corporate guarantees from the Directors of the Corporations and the holding/subsidiary companies between one another, to secure the Loans advanced by them to those companies. Read more

Telangana registers highest tax revenue of Rs. 13,703 cr during February

Telangana has registered tax revenue of Rs.13,703.92 crore in the month of February making it the highest tax collection in a month in the recent times. Read more

Tax dept expands scope for filing of appeals by officials; how this can impact taxpayers

CBDT in its recent circular has maintained the threshold limits for filing appeals by the Income-tax (I-T) department with tax tribunals, high courts, and the Supreme Court (SC), stated a Times of India news report. However, the circular has also broadened the list of exceptions, allowing appeals to be filed even for ‘insignificant’ sums, the news report stated. Read more

GST E-invoicing – reg.

If your turnover during the financial year 2023-24 was exceeding the threshold limit of Rs. 5 crore for the first time then w.e.f 01.04.2024 E-invoicing is applicable to you. Read more