SIGN IN SUBSCRIBE

News Update

PM to visit Laos to attend ASEAN-India SummitI-T - AO has no jurisdiction to consider claim made by assessee in revised return filed after time prescribed by Sec 139(5) for filing revised return had already expired: SCKautilya Conclave 2024: Dr Jaishankar stressed on emergence of AI and its impactGST - Yatri Sathi App - Applicant, though qualifies the definition of being an e-commerce operator, does not satisfy the conditions of Section 9(5) of the Act for discharging tax liability by an electronic commerce operator: AARIIFT to open first overseas campus in DubaiGST - Purchases of second hand gold jewellery from individuals who are not registered under GST would not amount as supply of goods or supply of services and applicant is not liable to pay tax on reverse charge basis: AARNC-Congress Alliance to form Govt in J&K; BJP breaks taboo in HaryanaGST - Affordable housing - 3/2019-CTR - Services by way of extending loans by HDFC Bank to applicant against consideration payable in the form of interest is an inward supply of exempted services - Services would be a part of total inward supply for computing threshold limit of 80%: AARFood parks among areas for investments between India and UAE: GoyalCX - Penalty - Rule 26 - SCN and OIO have explained in detail about the nature of offence for which penalty is levied - No breach of any requirement for levy of penalty: HCAbu Dhabi Investment Authority commences operations in GIFT CityGST - KHOL is exempted - End use of the product at the end of the purchaser is not the concern of the assessee and cannot be the consideration for classifying the goods in question: HCSafari Retreats Judgement of Supreme Court: A Pyrrhic VictoryIndia’s RuPay card launched in MaldivesI-T- When the assessee has own funds and surplus is more than investments, then, the presumption is that own funds are used: ITATUS Court orders Google to welcome rival App storesI-T- Penalty under Section 271(1)(c) is invalid where notice issued u/s 274 fails to specify the exact limb of penalty imposed: ITATUS to sell lightweight torpedoes worth USD 175 mn to IndiaI-T- CIT(A) empowered to consider additional evidence not furnished during assessment proceedings or which CIT(A) opines is necessary to admit for adjudicating matter; AO must necessarily have opportunity to examine such evidence: ITATLawyers, wife not to have access to Imran Khan over security concernsI-T- Re-assessment proceedings are rightly quashed where found to be based on change of opinion : ITATHurricane Milton turns into Category 5 stormCX - Spirits are denatured to be rendered unfit for human consumption - commodity tax in Constitutional scheme excludes Union's jurisdiction on spirits for human consumption - Excise tax applies to all spirits not intended for human consumption: CESTATUK sets up Regulatory Innovation Office to spur growthCX - Molasses used captively for manufacturing Undenatured ethyl alcohol, are exempt from tax - tax demand raised thereon is not sustainable: CESTATMexican mayor killed days after assuming officeCus - Unless it is established that royalty is paid as a condition of sale, it cannot be included in assesable value: CESTAT

MESSAGE BOARD

   

Income Tax - Over 5 lakh non-filers under scan


Rankings in ease of doing business

Ref: TIOL-DDT 2466 dated 30-10-2014 regarding India’s 142nd ranking in ease of doing business report. In the ten metrics used to measure ease of doing business in the World Bank's 2015 report, covering the period from June 2013 to May 2014, India came close to the bottom in two categories. It stood at 184th in the category _Dealing with Construction Permits_ and 186th in _Enforcing Contracts. Ranking in other eight categories are: Starting a business -158th, Getting electricity -137, Registering property -121, Getting credit -36th, Paying taxes -156, Trading across borders-126, and Resolving insolvency-137.
India’s ranking at 156 in the category of paying taxes in not a positive indicator for Indian Tax Administration. It is interesting to note that Octroi, which is being collected by local bodies, was abolished in 1976 by most of the states but it is still leviable in some states like Maharashtra.
**Pankaj Jaroli

pankaj jaroli 30/10/2014

 

Back

TIOL Tube Latest

TIOL Tube
Shri Shailendra Kumar, Trustee, TIOL Trust, giving welcome speech at TIOL Fiscal Awards 2024.

TOP NEWS


AR not Afar by SK Rahman

VISION 360



Ms. Kavita Reddy reading the acceptance speech on behalf of Dr. Y. V. Reddy former Governor of RBI, at TOL Fiscal Awards 2024 after being conferred TOL Kautilya Global Award 2024 by Deputy Chairman of Rajya Sabha, Shri Harivansh Narayan Singh.

TII LATEST

TIOLCORPLAWS LATEST