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Additions under Section 68 cannot be deleted merely relying on Assessee’s evidence – SC

Facts of the case: Assessee had fil...
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Clarification on various promotional schemes under GST

Sr. No. Types of Discount Examples Wh...
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Special allowances to be included in “Basic wages” for deducting PF – Supreme Court

Supreme Court in the case of Regional Pr...
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SEBI released notification to increase the levels of Corporate Governance and transparency by notifying the format for Annual Secretarial Audit Report and Annual Secretarial Compliance Report for Listed Entities and their material Subsidiaries

The Securities and Exchange Board of Ind...
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Compliance to file a One time return of outstanding receipt of money or loan by a company but not considered as deposits

Notification No. 41 published on January...
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Royalty payment to Italian Co. pursuant to agreement effective from 01-04-2008 would be taxable at 10%

Facts of the case: The Assessee bei...
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Reassessment proceedings stands valid if Foreign Co. couldn’t explain revenue earned from its PE in India

Facts of the case: The Assessee was...
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Promotion and Marketing services to overseas client is an ‘Intermediary Services’

Facts of the Case:                      ...
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Compliance to file declaration of commencement of business in eForm INC-20A

Notification No. 907 published on Decemb...
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Interim Union Budget 2019 – Direct Tax Recommendations

Head Proposed recommendation Assessee ...
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Unutilized amount on prepaid cards to be construed as Advance by Tel-Co’s : Delhi HC

Facts of the case: Assessee was pro...
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Non-Compete Fees not taxable under GST

In a recent judgement given by Kerala Hi...
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Services Qualify as Exports even if consideration is not received in convertible foreign exchange

What if, a service provider in India, ou...
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New Framework notified by RBI on External Commercial Borrowings

Background As part of ongoing efforts...
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Treatment of ‘prepayment penalty’ incurred for foreclosure of existing loan and availing new loan/borrowings

Facts of the Case: The company avails...
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Exception from online filing of application for lower or no withholding of tax in case of NRIs and Resident applicants

Background Section 197 and 206C(9) of...
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Withdrawal of Circular No. 10/2018 dated 31.12.2018 on applicability of section 56(2)(viia) of the Income-tax Act, 1961

Background Section 56(2)(viia) of the...
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Important changes through Notifications issued on December 31, 2018

1.Compulsive Reverse Charge Mechanism (R...
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Exemption of dividend cannot be denied merely because payer Co. didn’t pay tax on distribution of dividends

Facts of the case: The Assessee was...
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Capital gain on sale of assets contributed by partners as capital contribution would be taxable in the hands of the firm only

Facts of the case: Assessee was a p...
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Bill to Ship to mode of supply may involve more than three parties

Facts of the case: A (Applicand, he mad...
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Time limit preseribed for filing Country by Country Report (CbCR) by Constituent Entity

In order to standardize the documentaion...
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Recommendations made during 31st GST Council Meeting

Extension of Due Dates Form Due ...
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Addition of income cannot be made by AO merely on the grounds of taking tax credit by the Assessee

Facts The Assessee was following cash s...
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Support services provided by Back Offices in India to MNCs Abroad does not

Clarified by The Authority for Advance R...
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What is the nature of High seas sale under GST? Clarified by Authority for Advance Ruling

As per the recent AAR Ruling, following ...
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