Kerala HC Clarifies: Non-Service of Notice vs. Lack of Knowledge

March 5, 2025March 6, 2025 Chandan Tiwari No Comments

The Kerala High Court has provided significant clarification on the distinction between non-service of notice and lack of knowledge of service of notice, emphasizing the implications for the principles of natural justice. Justice Bechu Kurian Thomas delivered this observation in the case titled M/s Ramanattu Motor Corp. v. State of Kerala (WP(C) No. 23872 of 2024), which involved a dispute…

CGST, Goods and Services Tax (GST) in India, GST, GST Advance Ruling Authority, GST Amnesty Plan, GST Amnesty Scheme, GST Appellate Tribunal, GST E-Way Bill, GST Filing, GST Intelligence, GST On Trust, GST Rates, GST Registration, GST Related Disputes, GST Revenue Collection, GSTAT, GSTR-1, GSTR-3B, IGST, SGST

Delhi HC Urges Swift Action on 5.4 Lakh Pending Tax Tribunal Cases

March 5, 2025March 6, 2025 Chandan Tiwari No Comments

The Delhi High Court has recently raised alarm over the mounting backlog of appeals at the National Faceless Appeal Centre (NFAC), a body established to streamline tax assessments. With a staggering 540,000 appeals awaiting resolution, the court has urged immediate action to tackle the growing delays. Judicial Concern A division bench, led by Chief Justice…

Central Action Plan, File Your Income Tax Return, Income Tax, Income tax Act 1961, Income Tax Deduction, income tax return filing, Judicial Concern, National Faceless Appeal Centre, Taxpayer rights

53rd GST Council Meeting: Key Highlights and Recommendations

June 24, 2024June 24, 2024 Chandan Tiwari No Comments

The 53rd GST Council Meeting introduced significant measures to simplify tax processes, reduce litigation, and provide targeted tax reliefs. Here are the key takeaways: Waiver of Interest and Penalties: Extended Deadline for Input Tax Credit: Monetary Limits for Appeals: Reduced Pre-Deposit for Appeals: Appeal Filing Period Adjustment: Interest Relief on Delayed Returns: Anti-Profiteering Sunset Clause:…

Save Income Tax: Understanding the New Income Tax Regime

June 15, 2024June 15, 2024 Chandan Tiwari No Comments

The New Income Tax Regime, introduced in the 2020 budget by Finance Minister Nirmala Sitharaman under Section 115BAC of the Income Tax Act, offers an alternative to the traditional tax system. Designed to simplify tax calculations and provide benefits to taxpayers, this regime features altered tax slabs and reduced rates, but eliminates various exemptions and…

Agricultural Income, Better targeting of tax, Business Income, File Your Income Tax Return, Income Tax, Income tax Act 1961, Income Tax Deduction, income tax return filing, Indirect Tax, New Tax Regime, Old Tax Regime, Professional Income, Salary Income, Tax Regime, Tax Saving Scheme, Tax Slabs

Mandatory Scrutiny of ITR: Income Tax Department Reveals Criteria for Selection

May 24, 2024May 24, 2024 Chandan Tiwari No Comments

The Income Tax Department has recently unveiled detailed criteria for the mandatory scrutiny of Income Tax Returns (ITRs). These guidelines, released by the Central Board of Direct Taxes (CBDT) on May 3, 2024, specify how ITRs will be selected for close examination for the financial year 2024-25. These annual circulars have been a consistent effort…

Better targeting of tax, CBDT, Direct Tax, File Your Income Tax Return, Freelancer Tax Optimization, Income Tax, Income tax Act 1961, Income Tax Deduction, income tax return filing, Self Assessment Tax, Self Employed Taxes, Tax Regime, Tax Saving Scheme, Tax Scrutiny

LLP Registration in India: Understanding the Process and Benefits

May 22, 2024May 22, 2024 Chandan Tiwari No Comments

Starting a business in India has become more flexible and secure with the introduction of Limited Liability Partnerships (LLPs). This business structure, governed by the Ministry of Corporate Affairs and the Limited Liability Partnership Act, 2008, offers a unique blend of advantages from both partnerships and private limited companies. In this article, we’ll explore what…

Annual Return of LLP, Change address of LLP, Change Designation of Partner of LLP, Change in Name of LLP, Condonation of Delay in LLP Form, Documents Required for LLP Registration, LLP Registration, LLP Registration Process, LLP vs Private Limited Company, What is an LLP

Navigating the Latest Developments in GST

May 22, 2024May 22, 2024 Chandan Tiwari No Comments

In recent months, significant strides have been made in the administration and enforcement of the Goods and Services Tax (GST) in India. These changes encompass new directives from the Central Board of Indirect Taxes and Customs (CBIC), critical judicial rulings, and the operationalization of the GST Appellate Tribunal. Despite GST being a relatively young system,…

CBIC, CGST, DGGI, Goods and Services Tax (GST) in India, GST, GST Advance Ruling Authority, GST Amnesty Plan, GST Amnesty Scheme, GST Appellate Tribunal, GST E-Way Bill, GST Filing, GST Intelligence, GST On Trust, GST Rates, GST Registration, GST Related Disputes, GST Revenue Collection, GSTAT, GSTR-1, GSTR-3B, IGST, India's Economic, Input Tax Credit, SGST

How do freelancers save tax?

May 16, 2024May 16, 2024 Chandan Tiwari No Comments

Freelancers, the dynamic pioneers of self-employment, revel in their autonomy to choose projects and forge unique business ventures. However, amidst this entrepreneurial freedom lies the responsibility of navigating tax obligations effectively. Income earned through freelancing, a manifestation of one’s creative or professional prowess, falls under the ambit of ‘profit and gains from business and profession‘…

Freelancer Tax Optimization, Income Tax, Self Employed Taxes

How to download form 16, 16A and 27D

May 11, 2024May 11, 2024 Chandan Tiwari No Comments

The process of filing income tax returns has begun, but many salaried taxpayers are unable to file their returns due to not receiving Form 16. This form provides information about your income and the amount of tax deducted. Therefore, it becomes crucial for filing Income Tax Returns (ITR). Similarly, Form 16A and 27D are also…

Business Income, Condonation of Delay in LLP Form, File Your Income Tax Return, Income Tax, Income tax Act 1961, income tax return filing, Professional Income, Salary Income, TDS

Redemption of an unlisted NCD does not qualify as a capital gain

May 8, 2024May 8, 2024 Chandan Tiwari No Comments

The Income-tax Appellate Tribunal recently ruled that the difference between the proceeds received upon redemption of unlisted non-convertible debentures (NCDs) and their purchase cost should be classified as ‘interest income‘ and subjected to taxation under the category of ‘income from other sources‘ for the investor. Consequently, the ITAT (Mumbai bench) also disallowed tax benefits available…

Capital Gain, Income Tax, Income tax Act 1961, Income Tax Deduction, income tax return filing, Long Term Capital Gain, Marketing, Media, Mutual Funds

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