Following Budget 2024, the long-term capital gains on domestic and foreign equity funds/ETFs/FOFs were to be taxed at 12.5%.

The Tribunal ruled that the demand raised was not sustainable, and Alpha Industries was not liable to pay additional excise duty on the VAT incentive amount.

Any individual trained to review and verify accounting data and recognised as a Chartered Accountant (CA) under the Chartered Accountant Act, 1949 is deemed to be an auditor. Every company needs to ...

High Court has held that where the proceedings have been concluded against the recipient under Section 73 of Central Goods and Services (‘CGST’) Act due to non-reflection of ITC in the relevant ...

Board evaluation is a formal periodic, often annual, evaluation of the Board as a whole, its committees and individual Directors (including the Chairperson). This process seeks to identify areas of ...

The issue arose from a show-cause notice dated March 26, 2013, where the revenue proposed to demand duty from the appellant, arguing that the initial notification was effectively amended, restricting ...

The ITAT acknowledged the taxpayer’s claim of unawareness regarding the faceless assessment proceedings. It noted that while the taxpayer did not file a formal return, he provided a computation of ...

Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has allowed two appeals filed by Light Ray Advisors LLP against separate orders, both dated October 21, 2024, passed by the learned ...

GST law provides two types of tax compliance structures for businesses—Regular Scheme and Composition Scheme. While the Regular Scheme applies to most taxpayers, the Composition Scheme is a simplified ...

Chokalingam Srinivasan filed a writ petition with the Madras High Court, challenging an assessment order from the Deputy State Tax Officer I, citing a violation of natural justice principles. The ...

The learned Departmental Representative (DR) argued for the dismissal of the assessee’s appeal, citing the assessee’s consistent failure to appear or submit any written submissions before both the ...

CBDT has maintained a consistent pace in concluding APAs, having signed 125 in FY 2023-24 and 95 in FY 2022-23. Notably, this year also saw the signing of India’s first-ever MAPA. Additionally, on ...