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Guidelines for removal of difficulties under sub-section (3) of section 194BA of the Income-tax Act, 1961
Publish Date : Monday, May 22, 2023 source
Trial Court can’t Debar Officer of Directorate of Enforcement from Prosecuting on Behalf of ED: HC
Case Details: Nil Kamal Ghosh v. Dipak Commercial Shrijit International - [2023] 150 taxmann.com 126 (HC-Calcutta) Judiciary and Counsel Details Rai Chattopadhyay, J. Ms Debjani Ray for the Appellant. Facts of the Case In the instant case, the appellant was an officer of the Directorate of Enforcement. The Trial Court by the impugned order upheld that […]
No TCS on Overseas Spending with International Debit/Credit Cards Upto Rs 7 Lakhs per FY
Press Release, dated 19-05-2023 In response to concerns regarding the applicability of TCS to small transactions under the Liberalized Remittance Scheme (LRS) starting from July 1, 2023, the Ministry of Finance (MoF) has decided to exclude payments made by individuals using their international debit or credit cards up to Rs 7 lakh per financial year […]
Understanding Capital Gains | A Comprehensive Guide and FAQs
Table of Contents Introduction The Provision Analysis Relevant Circular Frequently Asked Questions (FAQS) Check out Taxmann's Law Relating to Capital Gains which answers 1200+ questions on capital gains divided into 680+ topics, spread over 55 chapters and covers 3000+ case laws on capital gains. It also includes a threadbare analysis of the provisions, chapter-end summaries […]
Notification No. 27/2023 [F. No. 370142/11/2023-TPL] / SO 2189(E)
Publish Date : Tuesday, May 16, 2023 source
MCA Notifies Effective Date for Enforcement of Certain Secs. of Competition (Amendment) Act, 2023
Notification No. S.O. 2228(E); dated: 18.05.2023 The Govt. has notified May 18, 2023 as the effective date for the enforcement of certain sections of the Competition (Amendment) Act, 2023. The key provisions that are amended by the Amendment Act include provisions relating to Anti-competitive agreements, abuse of dominant position, combination, the selection committee for Chairperson […]
Threshold Limit for Interest under Mahila Samman Savings Certificate for Sec. 194A is Rs. 40,000: CBDT
Notification No. 27/2023, dated 16-05-2023 Section 194A of the Income-tax Act provides for deduction of tax at source (TDS) at the rate of 10% from interest, other than interest on securities, paid or payable to a resident person. The tax shall be deducted at the time of payment or credit, whichever is earlier. Further, tax […]
No Late Fees during GSTIN Revocation and Restoration Period: HC
Case Details: Ishwar Chand Proprietor of Bhagwati Trading Co. v. Union of India - [2023] 150 taxmann.com 294 (Delhi) Judiciary and Counsel Details Vibhu Bakhru & Amit Mahajan, JJ. Malay Swapnil & Ms Bhumika Aggarwal, Advs. for the Petitioner. Krishna Kumar Sharma, Sr. Panel Counsel Vijay Joshi, Sr. SC Anil Devlal, Govt. Pleader & Gurjas Singh Narula, Advs. for the […]
Order Demanding ITC Reversal Despite Tax Payment by Suppliers is Liable to be Set Aside
Case Details: Gajrar Singh Ranawat v. Union of India - [2023] 150 taxmann.com 260 (Rajasthan) Judiciary and Counsel Details Vijay Bishnoi & Yogendra Kumar Purohit, JJ. Vinay Kothari & Ayush Goyal for the Petitioner. Rajvendra Saraswat & Mukul Singhvi for the Respondent. Facts of the Case The petitioner was in business of construction of roads. It requested the supplier […]
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