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After the decision of The Hon'ble Supreme Court in Northern Operating System in the Service tax regime, across the Country taxpayers are calculating their exposure under GST.
Allowability of CSR expenditure has been sealed after Explanation 2 to Section 37(1) was inserted in the Income tax Act 1961 w.e.f. 1.4.2015.
Penalty is allowed if it is compensatory and teaches the assessee how to run its business in future. It is disallowed if it is a punishment for intentional violation of a law
Resale method appropriate in Transfer Pricing where there is no Value Addition to traded goods by the distributor
Determination of date of transfer of capital asset before and after AY 2017-18... where two AYs are involved
Serving Of GST Notices In Form GST DRC-01 And Order In Form GST DRC-07 Other Than On The GST Portal Renders Notices/Orders Illegal
Does the Income Tax Law debar a charitable institution from getting registered until it is registered under another Law?
Cross border Payment Aggregators like Amazon (Pay) India, Google India, Razorpay, Pine Labs, PayPal, Cashfree, Paymate, etc to be directly regulated by RBI now
Not every doctor is corrupt and not every pharmaceutical firm resorts to unethical means to sell their products. However, there is no denying that a large number of doctors and medical companies adopt unfair means. Even the Supreme Court frowned at the expenses incurred on sales promotion of certain medicines
Is tax planning an offence or not? From the Apex Court's decision in the case of Union of India vs. Azadi Bachao Andolan [2003] 263 ITR 706 (SC), it is transpired that once the transaction is genuine, merely because it was entered into with a motive to plan tax, it would not become a colourable device, nor does it earn any disqualification.
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