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RBI issues 15 Question & Answers (FAQs) on Withdrawal of Rupees 2000 Denomination Banknotes 1. Why are ₹2000 denomination banknotes being withdrawn? The ₹2000 denomination banknote was introduced in November 2016 under Section 24(1) of RBI Act, 1934 primarily with the objective to meet the currency requirement of …
RBI to withdraw Rs. 2000 Denomination Banknotes from Circulation but Will continue as Legal Tender The Rs. 2000 denomination banknote was introduced in November 2016 primarily to meet the currency requirement in view of demonetisation. The objective of introducing Rs. 2000 banknotes has been stated to met banknotes in …
Disallowance u/s 50C can not be made by CPC by adjustment u/s 143(1) as it infringes statutory right of objection provided in section 50C – ITAT ABCAUS Case Law Citation:ABCAUS 3745 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) …
There is no provision in the Income Tax Act to tax the difference between value of jewellery declared and jewellery found in search as deemed sale ABCAUS Case Law Citation:ABCAUS 3744 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) …
Deduction u/s 35(2AB) allowed as Form 3CL was issued late by the competent authority . Form 3CL issued by competent authority can not be ignored – ITAT ABCAUS Case Law Citation:ABCAUS 3743 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the …
FAQ on applicable TCS rates subsequent to Spending on International Credit Card on foreign trip expenses brought under FEMA Rules Finance Ministry issue Frequently Asked Questions (FAQs) on Tax Collection at Source (TCS) on foreign remittance through the Liberalised Remittance Scheme (LRS) subsequent to The e-Gazette notification dated …
Bitumen not valuable article u/s 69A as it requires ownership in large quantity to treat it valuable – Supreme Court ABCAUS Case Law Citation:ABCAUS 3742 (2023) (05) SC Important Case Laws relied upon:Dhirajlal Haridas v. Commissioner of Income TaxCommissioner of Income Tax v. Amrit lal ChunilalKotak Mahindra Bank …
Income Tax Aaykar Sampark Kendra and its Helpline numbers going to be discontinued. View working Tax Helpline Numbers The the new numbers of Income tax Helpline/helpdesk which will continue are as under E-filing Help Desk Contact Details: e-filing and Centralized Processing Centere-Filing of Income Tax Return or Forms …
Spending on International Credit Card on foreign trip expenses brought under FEMA Rules As per Rule 5 of the the Foreign Exchange Management (Current Account Transactions) Rules, 2000 read with Schedule III, Individuals can avail of foreign exchange facility for specified purposes (i.e. foreign travel/tour, studies abroad, medical …
Public interest/interest of creditors to weigh in Merger or Amalgamation between small companies / holding and its subsidiary company – MCA Notification MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 15th May, 2023 G.S.R. 367(E).—In exercise of the powers conferred by sub-sections (1) and (2) …
