Now the due date for ITR filing has extended to 31st December 2020, it would be advisable to file the tax returns for the financial year (FY) 2019-20 or AY 2020-21 as soon as possible, to avoid the last-minute rush. Following points to consider before filing …
Judgement: The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while deleting the disallowance against Infosys BPM Ltd. held that payments made to a non-resident for acquiring off-the-shelf software are not royalty and no obligation to deduct TDS. Facts of the case: The revenue has appealed on …
1. The Central Government has introduced new enhancements to the E-Way Bill (EWB) system. 2. Enhancements to the E-way bill are as follows:– a) Document Numbers are case sensitive for an e-Waybill generation. b) In the Bulk Upload, if the Pin-to-Pin distance is not known, the …
1) The Central Board of Indirect Taxes and Customs (CBIC) issued the list of Senior/ Junior Standing Counsels, CGST for different High Courts other than Delhi High Court. 2) The President of India appointed a fresh panel of Senior or Junior Standing Counsels of CBIC to …
Judgement: The Telangana High Court quashed the Fraud Identification Committee (FIC) resolution declaring former Chairman and Managing Director, as ‘fraud’ and ‘willful defaulter’. Facts of the case: The petitioner, Mr. Rajesh Agarwal was aggrieved by the non-inclusion of principles of natural justice in the Master Directions …
The Institute of Chartered Accountants of India (ICAI) notified the schedule for the CA Examination for January/ February 2021. “In reference to the announcement dated 19th November 2020, it is notified for general information that next Chartered Accountant Examinations for the students who had opted-out from …
Judgement: The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that tax rates specified in the Double Taxation Avoidance Agreement (DTAA) in respect of dividend must prevail over Dividend Distribution Tax (DDT). The appellant, Giesecke & Devrient (India) Pvt Ltd was incorporated in 2001 as a …
Judgement: The Income Tax Appellate Tribunal (ITAT) Bangalore Bench while setting aside the order passed by the Assessing Officer deleted the disallowance against the Coffeeday Enterprises. Facts of the case: The assessee, M/s Coffeeday Enterprises Ltd. is engaged in the business of managing hotels and resorts. …
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that TDS cannot be deducted on the rent if the accommodation services were taken on a casual basis. Facts of the case: The assessee, Dadiba kali Pundole Esplanade House is engaged in the business of auctioning fine …
The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that tax rates specified in the Double Taxation Avoidance Agreement (DTAA) in respect of dividend must prevail over Dividend Distribution Tax (DDT). Facts of the case: The appellant, Giesecke & Devrient (India) Pvt Ltd was incorporated in …
Judgement: The Income Tax Appellate Tribunal (ITAT), New Delhi Bench imposed the penalty for failure to maintain Transfer Pricing Documents under and Section 271AA. Facts of the case: The assessee, Convergys Customer Management Group Inc. is a non-resident company incorporated under laws of the USA. The …
