Latest update 18.03.2025
A. Article
Writ Petition cannot be filed directly after issuance of intimation of tax
The Hon’ble Karnataka High Court in the case of M/s. Sri Nanjudappa Constructions dismissed the writ petition was to be dismissed as premature since tax intimation issued to Assessee under Section 73(5) of the CGST Act was not a final demand, and Assessee had an opportunity to contest it before any further proceedings.
Rectification of Applications Vs Form GST SPL-01/Form GSTSPL-02…!
A Tax Payer registered under GST, got an Order of demand and in which the demand of tax, interest, penalty is exists with multiple demands including Section 16(4) demands; but the payment against such demands is still due to the Government, since his grievances/Appeal against such Order is still due or pending as the case may be.
Taxability of director renumeration: Salary or Business income
The taxation issues for directors significantly differs from that applicable to professionals or non-executive directors who are earning income under “Profits and Gains from Business and Profession” and executive directors who are earning income under salary
B. Tax in Media
Ayodhya Ram Mandir trust says it paid Rs 396 crore in taxes in past 5 years
The Shri Ram Janmabhoomi Teerth Kshetra Trust, which manages the Ram Temple in Ayodhya, has paid Rs 396 crore in taxes to the government in the past five years, trust secretary Champat Rai said on Monday. He said the amount was paid between February 5, 2020, and February 5 this year.
After popcorn, now turn of donuts to get afflicted by ‘GSTitis’: Congress
The Congress on Saturday took a swipe at the government over its implementation of differential GST rates, saying that after popcorn, it is now the turn of donuts to get afflicted by “GSTitis”.
Income Tax Bill: Lok Sabha panel weighs expanding ‘accountant’ definition
The highlight of the two meetings of the select committee of the Lok Sabha, tasked with examining the Income Tax Bill, 2025, has been suggestions that the panel could recommend expanding the definition of ‘accountant’ to include other professionals, especially company secretaries and cost accountants.
The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, has introduced major revisions to the tax deducted at source (TDS) rules, aimed at providing financial relief to taxpayers, especially senior citizens, investors, and commission earners. Here’s a breakdown of the key changes effective from April 1, 2025.
CBDT makes all Income Tax offences compoundable, eases rules for defaulters
All offences under the income-tax law, including cases that involve agencies such as the Enforcement Directorate and the Central Bureau of Investigation, have been made compoundable by competent tax authorities if the applicant is not found to be involved in any anti-national or terrorist activity, the central board of direct taxes (CBDT) said on Monday.
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