The Finance Minister, Nirmala Sitharaman, presented the Union Budget, 2020, and introduced a new income tax slab. The new tax regime was introduced for regular individuals, senior citizens, and HUF, wherein they can pay taxes at lower income tax slab rates. Let’s check the income tax …
Saving for one’s retirement is an extremely crucial financial goal. The best way to save for retirement is to go for long-term small but regular investments. For this, the National Pension System (NPS) and the Public Provident Fund (PPF) are two commonly used products. Here is …
The Bombay High Court held that interest on the loan is not taxable in absence of a mechanism for bifurcation of service prior to March 2006. Facts of the case:- The respondent, Shriram Transport Finance Company Ltd. is engaged in the business of lease and equipment …
Judgement:- The Income Tax Appellate Tribunal (ITAT) Bangalore has quashed re-assessment proceedings against Nike India Pvt. Ltd, which was reopened more than 4 years after the initial assessment. Facts of the case:- The assessee is engaged in the distribution of Nike products like footwear, apparel sports …
a) The Disciplinary Committee of Institute of Chartered Accountants of India (ICAI) removed the names of five CAs for Professional Misconduct. b) The Disciplinary Committee has held CA. Abhijit Balkrishna Gaikwad (Membership No. 122995), guilty of Professional and Other Misconduct falling and consequently ordered for the …
Grant Thornton Recruitment 2021. Grant Thornton recruiting CA,CIA,MBA,CS,CWA,CFA for Risk Consultant and issued online Job notification to accept Applications. Grant Thornton Bharat has over 4,500 people across 15 offices around the country, including major metros. Grant Thornton Bharat is at the forefront of helping reshape the …
1) The Department of Chemical and Petrochemicals has approached the Finance Ministry for reducing GST on pesticides from 18% to 5% with the objective to bring parity in taxation on agro-inputs. 2) Fertilizers that attract 5% of GST, the pesticide is charged 18% GST, even higher …
1) The Director-General of Foreign Trade (DGFT) notified the amendment of Importer-Exporter Code (IEC) related provisions under Chapter-1 and Chapter 2 of Foreign Trade Policy, 2015-2020. 2) As per the existing policy IEC is mandatory for export/import from/ to India. DGFT issues Importer Exporter Code in …
Judgement:- The Income Tax Appellate Tribunal (ITAT) Bangalore, on February 5, Income on sale of shares of a company merged should be treated as Long Term Company Gain (LTCG). Facts of the case:- The assessee, Shaw-Wallace Financial Services Ltd., (SWFSL), Kolkata, was a company engaged in …