Understanding Form DRC-03A in the GST System
In the Goods and Services Tax (GST) system, taxpayers may sometimes make voluntary payments that are not directly tied to a specific demand or liability. These payments could be made…
Introduction to GST Relief Measures in India
The Goods and Services Tax (GST) Council in India has implemented various relief measures to improve tax compliance, simplify business operations, and foster research activities. The recent GST Council meeting,…
Unsecured loans proved to be genuine hence disallowance of interest u/s. 36(1)(iii) Ardor Overseas Pvt. Ltd. Vs DCIT (ITAT Ahmedabad)
Case Introduction: Ardor Overseas Pvt. Ltd. vs. DCIT Unsecured Loans in Business Financing Unsecured loans play a significant role in business financing as they provide access to funds without requiring…
Balancing Act: CBIC Guidelines for Tax Evasion Investigations
Introduction: The Need for Balance The globalized economy relies heavily on the seamless flow of imports and exports. However, this flow can be disrupted by the need to investigate tax…
Direct Tax Vivad Se Vishwas (DTVSV) Scheme 2024 – A Comprehensive Guide
The Direct Tax Vivad se Vishwas (DTVSV) Scheme, 2024, established by Chapter IV (Section 88 to 99) of the Finance (No.2) Act, 2024, is a program implemented by the Indian…
Unveiling the Impact: Fake Invoices in GST
In the complex world of taxation, particularly under systems like the Goods and Services Tax (GST) and various income tax provisions, the use of fraudulent documents such as fake invoices…
Examining the Anti-Profiteering Clause in GST
Goods and Services Tax (GST) was introduced in India as a comprehensive indirect tax on the manufacture, sale, and consumption of goods and services throughout the nation. Its aim is…
Tax Loss Harvesting: How It Works in India
Tax loss harvesting is a strategic financial practice utilized by savvy investors to reduce their tax liability arising from capital gains. By selling certain investments at a loss, investors can…
Procedure for Appeal against Cancellation of GST Registration
Goods and Services Tax (GST) has transformed the Indian economic landscape since its implementation in July 2017. GST has brought about a uniform taxation structure, ensuring the seamless flow of…
Exploring Assessment and Appeals in the Black Money Act
Taxes are not just statutory obligations; they are the backbone of a nation’s development, enabling the government to build infrastructure, provide essential services, and foster economic growth. Despite these benefits,…
Use of Gift as Colourable Device to attain eligibility for exemption u/s 54F Not Allowed: Hyderabad ITAT
In a landmark judgment that reverberates through the corridors of tax planning and legal stratagems, the Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) laid down a decisive ruling…
GST | Income Tax | TDS
A Comprehensive Guide to Tax Implications on Renting of Property: TDS, GST & Income Tax Discussed
Navigating the vast and intricate world of finance can be both challenging and enlightening, especially when it comes to understanding rental properties and the ensuing tax implications. This article serves…