Excessive payment u/s 40A(3) are not disallowed in case business expediency and identity and genuineness of parties are proved
When a person dies without leaving a Will ("Intestate Individual"), his/her succession is called Intestate Succession. It includes (a) Probate; (b) Letter of Administration; and (c) Succession Certificate.
The Goods and Services Tax (GST) portal has recently introduced a significant update in the form of an Invoice Management System (IMS).
It's a noteworthy Beena Manishbhai Fofaria V/s CIT(Appeals) case that clarifies the application of Section 87A, especially after the amendments brought by the Finance Act, 2023. This ruling is beneficial for many taxpayers.
A deep dive into why the RBI clings to high interest rates despite mounting pressure, balancing the scales between inflation control and economic growth. Will the December meeting finally break the cycle, or is price stability the ultimate goal?
The Direct Tax Code 2025 promises just that, aiming to simplify the tax system and empower taxpayers. Let's explore how this change could transform your financial journey!
Receipts for Transfer of "Copyright" by a Non-Resident (not having a PE in India) to a Resident in India are taxable in India as 'royalty'. However, the Transfer of "License" is not.
Relief from demand raised due to wrong availment of ITC for FY 2017-18, 2018-19, 2019-20 and 2020-21 in Contravention of Section 16(4)
For cases where an appeal is pending before an appellant forum as of July 22, 2024.
The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for AY 2024-25, focusing on accurate reporting of foreign income and assets in Income Tax Returns (ITR).
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