Comment In many judgments it is clarified that there should not be a levy of penalty without an intention to evade tax. In this judgment court again clarified that the penalty should only be levied when there is an intention to evade tax. One more
The Central Board of Direct Taxes (CBDT) has recently notified the Income Tax Return (ITR) Form ITR-6 for the Assessment Year (A.Y.) 2024-25, which will come into effect from April 01, 2024. This notification also includes the Income-tax (First Amendment) Rules, 2024, which further amend
As anticipation builds for the Interim Union Budget 2024, a significant announcement is expected to shake up the landscape of Goods and Services Tax (GST) in India. The buzz surrounds proposed reforms aimed at enhancing compliance and easing the burden on businesses, particularly small vendors.
In recent times, many taxpayers using GST portals found themselves inundated with notices and orders from the GST Department. This surge was due to the expiration of the limitation period for issuing notices and orders under Section 73 of the CGST Act 2017. Under the
Demystifying Cryptocurrency Taxation: A Guide for the Navigating Investor The meteoric rise of cryptocurrencies has ignited excitement and intrigue, attracting legions of individuals eager to dive into the decentralized waters. However, amidst the thrill of potential gains lurks a lurking beast: taxation. For the uninitiated,
