Latest UpdateHeartiest congratulations to new Finance Minister Smt. Nirmala Sitharaman31 May 20190Heartiest congratulations to new Finance Minister Smt. Nirmala Sitharaman Team www.theTAXtalk.com Congratulates Smt. Nirmala Sitharaman on being appointed as Minister…
Income TaxLandmark Move : Input Tax credit (GST) Can not be denied to recipient for default on part of the supplier- Delhi High Court issued notice to UNION OF INDIA31 May 20190Landmark Move : Input Tax credit (GST) Can not be denied to recipient for default on part of the supplier-…
Income TaxHow to file of Statement of Financial Transactions (SFT)?31 May 20190How to file of Statement of Financial Transactions (SFT)? One of the key compliance expected from specified taxpayer is filing…
Income TaxREAL ESTATE INVESTMENT BACK TO LIFE31 May 20190REAL ESTATE INVESTMENT BACK TO LIFE Developers can expect a 10-year tax holiday on profits earned from rental housing. …
IT JudgementProcedure of Additions / Assessments etc in Search and Seizure cases.31 May 20190Procedure of Additions / Assessments etc in Search and Seizure cases. Issue has been aptly elaborated by Kolkata Tribunal in…
IT JudgementProvision for warranty is a contingent liability. Whether it is allowable as deduction31 May 20190Provision for warranty is a contingent liability. Whether it is allowable as deduction Provision for warranty is a contingent liability.…
IT JudgementAssessment under section 153C when Documents seized not belonging to the assessee31 May 20190Assessment under section 153C when Documents seized not belonging to the assessee Decision : In assessee’s favour. Relied: CIT v. M/s. Arpit…
IT JudgementNo exempt Income = No disallowance u/s 14A31 May 20190No exempt Income = No disallowance u/s 14A In absence of exempt income earned by assessee during the year under…
GSTFake invoice without actual supply, arrest & bail provision31 May 20190Fake invoice without actual supply, arrest & bail provision 2019 TaxPub(GST) 0181 (Karn-HC) IN THE KARNATAKA HIGH COURT B.A. PATIL,…
IT JudgementIf not a continuous activity, sale of land can not be treated as business income31 May 20190If not a continuous activity, sale of land can not be treated as business income An interesting case by P…
IT JudgementIf any partner does not agree to sell a firm’s property, whether the same can be considered as an encumbrance for capital gain computation?30 May 20190If any partner does not agree to sell a firm’s property, whether the same can be considered as an encumbrance…
Income TaxResidential house purchased which consists of several independent units cannot be a results in denial of exemption u/s 54.30 May 20190Residential house purchased which consists of several independent units cannot be a results in denial of exemption u/s 54. Here…
IT JudgementSecond proviso to section 40(a)(ia) as introduced by Finance Act, 2012 with effect from 1-4-2013, being curative and declaratory in nature was applicable restrosepctively with effect from 1-4-2005, therefore, no disallowance could be made if contents of CA certificate were proved to be correct30 May 20190Second proviso to section 40(a)(ia) as introduced by Finance Act, 2012 with effect from 1-4-2013, being curative and declaratory in…
IT JudgementAmount received on liquidation of shares held an ESOP is taxable as salary income or capital gain income ?30 May 20190Amount received on liquidation of shares held an ESOP is taxable as salary income or capital gain income ? Where…
TDSNo TDS required on payment towards charges for Utilization of bandwidth30 May 20190No TDS required on payment towards charges for Utilization of bandwidth Issue : Payment for utilization of bandwidth charges was…
GSTGSTN releases proposed New GST Return Prototype:30 May 20190GSTN releases proposed New GST Return Prototype: Recently, GSTN (Goods and Services Tax Network) has released a web-based prototype of…
IT JudgementSLP dismissed by SC against HC’s order quashing reassessment as sufficient disclosure was made on receipt of Govt. subsidy30 May 20190SLP dismissed by SC against HC’s order quashing reassessment as sufficient disclosure was made on receipt of Govt. subsidy …
IT JudgementLandmark Judgement : Property held Jointly can’t be held as owned by assessee while allowing sec. 54F relief: Mumbai ITAT30 May 20190Landmark Judgement : Property held Jointly can’t be held as owned by assessee while allowing sec. 54F relief: Mumbai ITAT…