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Taxation case laws

January 2, 2018

Aadhaar Linking Scheme Extended till March 31st 2018

Ever since the Aadhaar card was rolled out in January 2008, it has been in the spotlight.  When it was first introduced, most people did not know why it was introduced. However, as time went on we got to know that we were required to […]
January 2, 2018

Buying Duty Free Goods Now Easier

One of the perks of travelling is buying duty free goods.  However, trying to calculate the currency exchange, then adding the multitude of other fees/charges, can be tricky, unless you are a mathematics genius.  Recently Central Board of Excise and Duty (CBEC) announced that duty […]
December 24, 2017
Can Education Cess be levied as Excise Duty

Education Cess Cannot Be Levied as Excise Duty is Exempt in Backward States

Education cess cannot be levied as Excise duty is exempted in backward states. Know more about this topic by clicking this blog by H&R Block India.
December 5, 2017

Scrutiny Assessment Parameters For Revised or Belated ITRs Filed Post Demonetisation

When demonetisation was announced late last year, many people were left scrambling trying to convert their old bills into the new ones.  The country was in state of chaos for several subsequent weeks.  Though it caused a lot of headache for the common public, the […]
December 4, 2017

Exemption Granted u/s 54EC For Investment Made After Delay of Over Six Months

The saying “rules are not set in stone”, exists for a reason.  Our world is governed by rules to prevent wrong doings.  However, as the saying goes “there are exceptions to every rule”.  Income Tax laws exist to govern the citizens by preventing corruption, tax […]
November 28, 2017

NRI Income Non-Taxable in India if Stay Abroad Exceeds 182 Days

With companies stretched around the globe, it is not uncommon for employees to travel abroad or be deputed for work related purposes.  A scenario which is more prevalent in today’s global economy.  This change in the work environment led to amendments being made to the […]
November 16, 2017

New Exemption Limit for Agriculturists on Cash Transactions u/s269ST

Exemptions to many taxation and income laws have always included farmers, including section 40A(3), which disallows any cash transactions (i.e. not made by cheque/electronic/draft) above 10,000 for all business transactions.  However, rule 6DD of 40A(3), exempted agriculturists.  Recently an amendment, 269ST, was made during the […]
November 14, 2017

Relief for Home Buyers under GST

Anybody who booked or made partial payments for their under construction properties before July 1st, 2017 should not face any increased costs under the new GST scheme.  Any builder demanding more money because of GST is in violation of profiteering u/s 171 of GST law […]
November 13, 2017

Late Penalty for Filing and Payment Delays u/s 234A and 234B Amended

The income tax department can charge penalties for persons who fail to file their return of income by the due date.  Under section 234A the assessee can be charged a late penalty of 1% interest for every month of delay in filing.  Furthermore, under section […]
October 9, 2017

CBDT Proposes Mechanism for Self-Reporting on Income & Taxes

The CBDT had proposed a draft notification for creating a mechanism for self-reporting of the estimated current income and taxes. The assessees for such reporting are taxpayers, viz companies and people (individuals, firm, etc.) to whom tax audit cases are applicable by voluntary compliance. Additional […]