Jayant Nanda VS. Union of India, [2024] 159 taxmann.com 674 (Delhi) Where based on search at premises of assessee, NRI, it was alleged that assessee had indulged in evading disclosure of a large amount of undisclosed foreign assets/income in offshore jurisdictions and LOC was issued against assessee, since assessee had not been called for investigation by authorities for two years, […]
Mukesh Ambani led Reliance Industries and Walt Disney announced the merger of their India TV and streaming media assets, creating an $8.5 billion entertainment juggernaut far ahead of rivals in the world’s most populous nation. Largest Indian conglomerate will inject $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake, with Disney […]
In this edition we have tried to bring you notice the latest amendment that followed in the month of March, 2024 issued by RBI, CCI and others. RBI Updates Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024 RBI has issued a Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024 which […]
GST Calendar –Compliances for the month of January’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) February 10, 2024 GSTR-8 (Tax Collected at Source ‘TCS’) February 10, 2024 GSTR-1 February 11, 2024 IFF- Invoice furnishing facility (Availing QRMP) February 13, 2024 GSTR-6 Input Service Distributor February 13, 2024 GSTR-2B (Auto-Generated Statement) February 14, 2024 GSTR-3B February 20, […]
CBDT ORDER DATED 31.01.2024 [F. NO. 225/132/2023/ITA-II, DATED 31-1-2024] The CBDT vide this order dated 31.01.2024, to resolve grievance of taxpayer related to issue of refund in respect of returns of income validly filed electronically up to AY 2020-21, time limit of processing the same further extended the time till 30.04.2024. On 1st February 2024, Union Finance Minister Nirmala Sitharaman presented the Interim […]
BlackRock and Global Infrastructure Partners (GIP) have signed a definitive agreement for a stock and cash deal. BlackRock will acquire GIP for $12.5 billion (around INR 1,00,000 crore) which will make the world’s largest asset manager as one of the biggest players in alternative assets and private markets. BlackRock will buy GIP in $3 billion cash and roughly 12 million […]
Indirect Tax News Letter GST Calendar –Compliances for the month of January’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) January 10, 2024 GSTR-8 (Tax Collected at Source ‘TCS’) January 10, 2024 GSTR-1 January 11, 2024 IFF- Invoice furnishing facility (Availing QRMP) January 13, 2024 GSTR-6 Input Service Distributor January 13, 2024 GSTR-2B (Auto-Generated Statement) January 14, […]
NOTIFICATION NO. 105/2023; Dated: December 22, 2023 That the CBDT vide Notification No. 105 of 2023; notifies new ITR Forms (ITR-1 SAHAJ & ITR-4 SUGAM) for AY 2024-24. Important Judicial Precedents Whether re-opening of assessment can be resorted to solely on assumption that Assessee did not file ITR for the relevant AYs, thus revealing non-application of mind on part of […]
Indirect Tax News Letter GST Calendar –Compliances for the month of December’2023 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) December 10, 2023 GSTR-8 (Tax Collected at Source ‘TCS’) December 10, 2023 GSTR-1 December 11, 2023 IFF- Invoice furnishing facility (Availing QRMP) December 13, 2023 GSTR-6 Input Service Distributor December 13, 2023 GSTR-2B (Auto-Generated Statement) December 14, […]
Introduction Goods and Services Tax (GST) has transformed the Indian taxation system, bringing about a unified and transparent approach. However, with the implementation of GST comes the responsibility of complying with its intricate filing procedures. GST Return Audit and assessment is a crucial aspect that businesses must navigate to ensure compliance and avoid legal complications. In this blog, we will […]