Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Kerala, Nagaland and Telangana   The post Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Kerala, Nagaland and Telangana appeared first on The Tax Talk ..read more

CBDT further extends the due date for submitting the Trust audit reports to 10 Nov 2024 AY 2023-24   The copy of the order is as under:   The post CBDT further extends the due date for submitting the Trust audit reports to 10 Nov 2024 AY 2023-24 appeared first on The Tax Talk ..read more

GST in case of Vehicle Insurance companies Regardless of how frequently their vehicles are used, every automobile and two-wheeler owner must budget for a few recurrent costs. Motor vehicle insurance is one of them. Motor vehicle insurance costs have risen in recent years. Many blame the hike to higher GST rates. There should also be... The post GST in case of Vehicle Insurance companies appeared first on The Tax Talk ..read more

Unjust Tax Demands: The Confusion over REBATE Under Section 87A   Many taxpayers are receiving the Income Tax Demand Notices due to the disallowance of the rebate claimed in their ITRs under section 87A. This issue has caused considerable confusion not only among taxpayers but also among accountants and tax professionals. Let’s break down why it... The post Unjust Tax Demands: The Confusion over REBATE Under Section 87A appeared first on The Tax Talk ..read more

If the construction of a building is integral to providing services such as renting, it may fall under the “plant” and eligible for ITC: Supreme Court in Safari Retreats Case   In a significant ruling, the Hon’ble Supreme Court has accepted the assessee’s argument under Section 17(5)(d) of the CGST Act in the Safari Retreats... The post If the construction of a building is integral to providing services such as renting, it may fall under the “plant” and eligible for ITC: Supreme Court in Safari Retreats Case appeared first on The Tax Talk ..read more

Taxability of dividend received from foreign companies   The term dividend has been defined in Section 2(22) in an inclusive manner which includes the Distribution of accumulated profits to shareholders. The taxability of dividends has undergone changes over the past few years both from the perspective of an Indian company declaring dividends and an Indian... The post Taxability of dividend received from foreign companies appeared first on The Tax Talk ..read more

Income Tax Demand Notices Vs . Disallowance of Rebate under section Section   Many taxpayers are currently receiving Income Tax Demand Notices due to the disallowance of the 87A rebate in their ITRs. There is a lot of confusion with regard to such demand amongst taxpayers. Let us know about it. What’s the issue: The... The post Income Tax Demand Notices Vs . Disallowance of Rebate under section appeared first on The Tax Talk ..read more

ITC On Construction Costs Can Be Claimed If Building Construction Was Necessary For Renting Out Service : Supreme Court   The Supreme Court declared that real estate companies can claim Input Tax Credits (ITC) under the Goods and Services Tax (GST) regime, on costs of construction for commercial structures intended for renting or leasing purposes. The... The post ITC On Construction Costs Can Be Claimed If Building Construction Was Necessary For Renting Out Service : Supreme Court appeared first on The Tax Talk ..read more

TOLA Will Continue To Apply To Income Tax Act After April 1, 2021 If Any Action Or Proceeding Falls For Completion Between March 20, 2020 & March 31, 2021: SC   Union of India & Ors. Vs. Rajeev Bansal (Civil Appeal No 8629 of 2024) Background: 1. The Taxation and Other Laws (Relaxation and Amendment... The post TOLA Will Continue To Apply To Income Tax Act After April 1, 2021 If Any Action Or Proceeding Falls For Completion Between March 20, 2020 & March 31, 2021: SC appeared first on The Tax Talk ..read more

Compliance Calendar For October’ 2024   INCOME TAX ▪ 07th October 2024- Due date for payment of TCS/ TDS for the month of September’24. ▪ 07th October 2024- Due date for filling Tax Audit Reports for FY 2023-24. (Extended Date) ▪ 15th October 2024- Due date for filling TCS Return for 2nd quarter (July-September). ▪... The post Compliance Calendar For October’ 2024 appeared first on The Tax Talk ..read more