Tax on Winning from Games, Shows, Lottery & Gambling
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Money won is twice as sweet as money earned. TV Channels, Newspaper, Malls, online marketing, Petrol Pumps, everywhere there are…
gambling
Recent Posts
- Section 159 applies only if reassessment notice is issued before Assessee’s death
- Section 87A PIL disposed of by Bombay HC
- CIT(E) Can’t Reject Trust’s Registration Application Based on Only One Clause of Trust Deed- Surat ITAT
- GST on Accommodation Services
- CBDT clarification on applicability of PPT while granting treaty benefits:
- Interest on deposits of surplus fund would qualify for the deduction u/s 80P(2)(a): Kerala HC
- Bombay HC dismissed writ petition against reopening – Observed wrong mention of return not filed as a typographical error
- Limitation period runs from the date the DRP’s directions are uploaded on the ITBA portal.
- Reopening is invalid if the escaped income is below ₹50 lakh and the notice was issued after the 3-year limit
- No recovery can be made without following the procedure specified in Section 78 & 79 of the GST Act
