Service Tax show cause was illegal as classification of services mentioned was completely erroneous – Supreme Court In a recent judgment the Supreme Court has held a service tax show cause notice illegal as the classification of services mentioned in it was completely erroneous. ABCAUS Case Law Citation:ABCAUS …

ICAI cancelled membership of 6834 chartered accountants for non payment of fee The Institute of Chartered Accountants of India (ICAI) removed approx. 7 thousand (6926) chartered accountants from the Register of Members Section 20 in the Chartered Accountants Act, 1949 provides for Removal of name of a CA …

Telegraphic transfer buying rate to be rate of exchange for the purpose of deduction of tax at source on income payable in foreign currency CBDT has amended income tax rule 26 to provide that telegraphic transfer buying rate shall be the rate of exchange for the purpose of …

CBDT issues Guidelines under clause (10D) of section 10 of Income-tax Act from AY 2024-25 Clause (10D) of section 10 of the Income-tax Act, 1961 (the Act) provides for income-tax exemption on any sum received under a life insurance policy, including the sum allocated by way of bonus …

Consideration used in section 48 does not have any reference to market value but only to consideration referred to in sale deeds as sale price of assets ABCAUS Case Law Citation:ABCAUS 3791 (2023) (08) ITAT Important Case Laws relied upon:Commissioner of Income tax vs Gillanders Arbuthnot & Co. …

IRDAI invites Application for Young Professional Program, 2023 IRDAI offers an opportunity to young individuals to work on important initiatives within IRDAI and expose themselves to policy issues and analysis in the insurance sector. It best suits individuals who wish to contribute to development of insurance sector in …