Judgement

"The assessee is not under obligation to explain cash deposits when an income tax return is filed under the presumptive taxation scheme," says ITAT.

Presumptive Taxation: Assessee not under obligation to explain cash deposit when ITR is filed u/s 44AD, says ITAT

Articles

Announcement

The CBT Examination of Diploma on Management and Business Finance will be held in January and February.

ICAI Important Announcement on Post Qualification Course - Diploma on Management and Business Finance January 2023 Examination

ICAI has released Applicable Study Material for CA Foundation, Intermediate and Final Course May/ June 2023 Exams. CA Foundation, Intermediate and Final Course study material for May / June 2023 examination is available for download in PDF format.

ICAI Released Study Material for CA May/ June 2023 Exams

In circumstances where the said building has been duly reflected in the schedule of fixed assets and perquisite value has been duly taxed ITAT allowed Interest Deduction on Loan on House Property used by Directors for their residential purpose.

ITAT Allows Interest Deduction on Loan on House Property used by Directors for their residential purpose

News

Central Bureau of Investigation started investigation against then PNB Manager and including Other Two Companies for Bank Fraud of Rs.168.59 Crore. Fraud was done by issuing 34 false bank guarantees using the bank's system in an illegal and unauthorised manner.

Bank Fraud: CBI Registers Case against PNB Manager and 2 Companies for Bank Fraud of Rs. 168.59 Crore

Homebuyers who cancel their purchase of an under-construction property after paying the purchase price and GST will receive a return straight from the government. Council recommended that the GST rules be amended to allow a buyer to file an application for refund if the contract or agreement for the supply of services, such as the construction of a flat or house, is cancelled and the time period for the concerned supplier (developer) to issue a credit note has expired.

GST Paid can be refund in case of Under-Construction Property if purchase deal is called off

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