The Government of India (GOI) has issued Notification conferring lower tax rate benefit of 10% under the India-Spain Double Taxation Avoidance…
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Basic Understanding of IND AS 116
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Macro Economic Factors- March 2024
February 2024 catalogued a great set of numbers with GDP observing ambitious growth rate of 8.4% and the RBI MPC…
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Mandatory Registration- Input Service Distributor
Applicability of ISD- Clause 11 Chapter IV Finance Act 2024 Download PDF:-
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Processing of returns of income validly filed electronically with refund claims for AY 2021–22 beyond the prescribed time limit in non-scrutiny cases.
The CBDT issued an Order on March 01, 2024, to address issues with processing income tax returns of the Assessment…
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Macro Economic Factors- February 2024
The Macro-Economic indicators for the month signaled at a strong economic growth across all sectors of the economy. Industrial activity…
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Interim Budget- Input Service Distributor
Proposed Amendment- Distribution of ITC by the Input Service Distributor Download PDF:-
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Addition of clause (h) of Section 43B: Income Tax Implication on delay payment to Micro and Small Enterprises Registered under MSME Act,2006.
As per the Amendment made by the Finance Act, 2023 clause (h) has been inserted under section 43B, emphasizing that…
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APR Compliance – Requirement of Audit of Foreign Entity
Introduction of the new OI Rules has made it mandatory to file APR based on the audited financial statements of…
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Macro Economic Factors- January 2024
Macro-Economic indicators for the month reflects expansion throughout the economy at a moderate pace. While CPI inflation is again creeping…
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Date Extension- ITC Reversal, Reclaim and Order under section 73
CBDT extends time limit for passing order under section 73 and ITC reversal and reclaim Download PDF:-
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Feedback for High-Value Transaction Under e-Campaign on Compliance Portal
Under e-campaign, the income tax department sends emails/SMS to identified taxpayers to verify their financial transactions related to information received…
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Macro Economic Factors- December 2023
The Macro-Economic indicators for the month gave mixed signals. Foreign trade numbers have declined due to the global slowdown, but…
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GST Appeal Pre-deposit from Electronic Credit Ledger
Clarification on GST Appeal 10% Pre-deposit requirement Download PDF:-
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Non applicability of Black Money Act if Investment in Foreign Entity is disclosed in Audited Balance Sheet.
The assessee admittedly duly recorded and disclosed the investment in foreign entity in its audited balance-sheet and also furnished such…
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Supreme Court ruling on Automatic enforcement of Most Favoured Nation (MFN) Clause in Indian Tax Treaties.
The Hon’ble Supreme Court has made a ruling on availing benefits under MFN clause of India’s income tax treaties only…
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Macro Economic Factors- November 2023
The macro-economic Indicators for the month gave mixed signals with strong domestic demand during the festive season, while the ongoing…
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