Direct Taxes (including International Taxation)

Govt should reduce 1% TDS on e-commerce transactions to minimise cash flow impact for MSME sellers

  E-commerce, a sunrise industry in India, has driven massive investments in infrastructure and logistics in the past decade. It has...

Additional form to be filled if you are choosing the new tax regime

  The Central Board of Direct Taxes (CBDT), via a notification dated October 1, 2020, has clarified that individuals opting for the ...

TDS/TCS provisions applicable for e-commerce firms from 01st October that businesses must know

The central government on Tuesday released a detailed list of tax deducted at source (TDS) or tax collected at source (TCS) provisions ap...

Change in Scrip wise reporting of shares in Income Tax Returns – Implication on traders an...

In a major announcement, the Finance Ministry has said there is no requirement of scrip-wise reporting in the Income Tax returns form for...

82 per cent taxpayers harassed for TDS mismatch

More than 82 per cent of individual taxpayers faced TDS mismatch problems during the last three years resulting in disallowance of refund...

TDS relief expected for MSMEs transacting through e-commerce platforms

The government is considering provision of relief to micro, small and medium enterprises (MSMEs) hit by the Covid-19 pandemic, sparing th...

With Covid restrictions gone, demonetisation cash deposits back under the Income Tax scanner

The taxman is back knocking on the door. In the past one month several individuals have been summoned by the investigation wing of the in...

CBDT lays down criteria on compulsory selection of ITRs for scrutiny during FY 2020-21

  The Central Board of Direct Taxes (CBDT) has laid down guidelines for compulsory selection of returns for scrutiny assessment duri...

Extension of limitation period on account of COVID-19 wouldn’t apply to statutory period for cond...

      [2020] 119 taxmann.com 231 (SC) SUPREME COURT OF INDIA Sagufa Ahmed v. Upper Assam Plywood Products (P.) Ltd. S. A. ...

Govt proposes special tax incentives for FPIs choosing Gift City over Singapore & Mauritius

Changes to the tax regulations introduced by the government on Friday will provide special incentive for foreign funds who choose to shif...

Lok Sabha Passes Taxation Bill To Relax Compliance Requirements For Taxpayers

Lok Sabha on Saturday passed a taxation bill that seeks to provide various reliefs in terms of compliance requirements for taxpayers amid...

Excess CST paid on account of denial of Form ‘C’ is allowed as refund to buyer

Where assessee, a manufacturer of cement, was registered under Central Sales Tax Act in State of Rajasthan and Competent Authority of Sta...

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