TDS Defaulter arrested and sent to jail by the Tis Hazari Court  As per Press Release of Finance Ministry, Tis Hazari Court has sentenced a TDS defaulter to jail. The Tis Hazari Court has ordered judicial custody of the Director of a Delhi based Real Estate and IT …

Mere categorisation of land as agricultural in revenue records not suffice for capital gain exemption. Whether a land is agricultural or not is a question of fact – High Court Prelude: Section 2(14) of the Income Tax Act, 1961 (the Act) defines  “capital assets”. It also provides for …

Addition made in computation of income comes under Explanation 1(B) of Section 271(1) related to concealment penalty under the Income Tax Act. Explanation rejected by ITAT in assessment proceedings, can not be considered bona fide in penalty proceedings-High Court ABCAUS Case Law Citation: ABCAUS 2169 (2018) (01) HC …

Changes in GST rates on services as per 25th GST Council Meeting. Exemptions, ITC Eligibility Criteria, Rationalization etc. Recommendations made on GST Rate changes on services by the 25th GST Council Meeting The Union Finance Minister Shri Arun Jaitley Chaired the 25th Meeting of the GST Council in New …

Late fee for GSTR-1 5 5A reduced. date for filing GST REG-29 for cancellation of registration extended. Policy Changes recommended by GST Council Meeting.   The Union Finance Minister Shri Arun Jaitley Chaired the 25th Meeting of the GST Council in New Delhi today. The following Policy Changes have been …

Recommendations for Changes In GST/IGST Rate and Clarifications in Respect of GST Rate on Certain Goods -As per discussions held in the 25thGST Council Meeting  The Union Finance Minister Shri Arun Jaitley Chaired the 25th Meeting of the GST Council in New Delhi today. The Council has recommended certain …