In our globalised economy, financial transparency is a cornerstone of compliance with international tax laws. The Common Reporting Standard ( CRS ) and the Foreign Account Tax Compliance Act (…
Top Stories Revise ITR to Show Foreign Assets or Face Rs. 10 Lakh Penalty! Income Tax Dept warns Taxpayers The reminders aim to guide taxpayers in completing the mandatory “Foreign…
A recent opinion provided by the Solicitor General of India to the National Financial Reporting Authority (NFRA) has clarified that the authority to issue binding standards or guidelines for audit…
The GST Network ( GSTN ) has highlighted specific scenarios where the GSTR-2B for October 2024 was not generated, as reported by certain taxpayers. Below is a summary of the…
Top Stories Filing ITR with Foreign Assets? Here’s How to Complete FSI, TR, and FA Schedules Step-by-Step Proper disclosure of the same will help you to avoid the penalties and…
Top Stories Demand Notice on GSTR Mismatch issued after 5 Years GST Registration Cancelled: Madras HC sets aside Order on 5% Pre-deposit [Read Order] The petitioner submitted that they had…
Top Stories Husband Transferring Portion of Residential Building to Wife Amounts to Luxury Tax Evasion: Kerala HC dismisses Petition [Read Order] The Court further held that “While tax planning is…
The Delhi High Court recently quashed an Income Tax Appeal filed by the Revenue, ruling that delayed order levying penalty on an Assessee under Section 271C of the Income Tax…
Top Stories Inability to prove Unexplained Cash Credit u/s 69A of Income Tax Act: ITAT remits issue to AO for Fresh Consideration [Read Order] Assessing Officer has made the addition…
In a recent ruling, the Madras High Court held that an expired Anti-Dumping Duty ( ADD ) notification cannot be extended. The court directed a reassessment of Huawei Telecommunications’s ADD…