What do you mean by ‘specified premises’? W.e.f. 01.04.2025, the definition of specified premises shall be as under: “Specified premises”, for a financial year, means,- (a) a premises from where the ...

1. The applicability of the Rebate under section 87A on Short-Term Capital Gain under the New Regime is a highly debatable ...

Supreme Court & Bombay High Court Uphold Right to Rectify GST Errors: Bonafide Buyers Entitled to ITC Even if Not Reflected ...

Non-Adjudication on Section 87A Rebate for STCG: The court refrained from making a conclusive ruling on whether the rebate under Section 87A applies to Short-Term Capital Gains (STCG). However, It ...

Subject: Various issues related to availment of benefit of Section 128A of the CGST Act, 2017-reg.

Effective from the date of publication in the Official Gazette, this amendment updates the Income-tax Rules, 1962, specifically Forms 26Q and 27Q. In Form 26Q, Section 194T has been added to the ...

The Rajasthan High Court addressed a case where Namrata Jain, an NRI residing in the USA for over 15 years, challenged an income tax reassessment initiated under Section 148A(d) of the Income Tax Act, ...

Under section 208 it is obligatory to pay advance tax during the financial year in every case where the advance tax payable is Rs. 10,000 or more. Thus if the advance tax payable is less than Rs.

The Government of India addressed queries regarding the Goods and Services Tax (GST) on medicines and medical goods in a recent Rajya Sabha session. The GST rates and exemptions are determined by the ...

Notwithstanding this fall, the Indian stock markets have consistently performed positively for long term investments. The benchmark NIFTY-50 index has yielded a price return of 11.13% on compounded ...

Madras High Court held that reopening of assessment u/s. 148 of the Income Tax Act based on the judgement of Hon’ble Supreme Court judgement is tenable as Supreme Court has not given direction to ...

Delhi High Court held that retrospective cancellation of GST registration without assigning reason in SCN and in final order is unjustifiable. Accordingly, writ allowed and order cancelling ...