News

The Supreme Court has decided matter in favour of Income Tax Department where, around 90000 Income Tax reassessment notices issued under old regime between 1st April and 30th June 2021, for assessment years 2013-14 to 2017-18 have been upheld.

Setback for Taxpayers: 90000 Tax reassessment notices issued under old regime upheld by SC

The Supreme Court allows GST ITC on Construction Costs in matter of Chief Commissioner of Central Goods and Service Tax  vs. M/s Safari Retreats Private Limited

Breaking: Supreme Court allows GST ITC on Construction Costs

Notifications

Notifications - Central Tax

CBIC has notified the Principal Bench of AT to examine if ITC or Tax Rate Reductions result in a Price Decrease via issuing a Notification.

Principal Bench of AT to examine if ITC or Tax Rate Reductions result in Price Decrease: CBIC

MCA has notified Indian Accounting Standards (Ind AS) 104 for Insurance Contracts via issuing a Notification.

MCA notifies Ind AS 104 for Insurance Contracts

ICAI in a press release stated that it stands committed to the well-being of Chartered Accountants and also formed a group to address work-life balance and stress management.

ICAI Stands Committed to Well-being of Chartered Accountants

Articles

Govt. proposed inviting recommendations on the Income Tax Act of 1961 from the private sector and tax experts beginning in October.

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Setback for Taxpayers: 90000 Tax reassessment notices issued under old regime upheld by SC

Breaking: Supreme Court allows GST ITC on Construction Costs

Principal Bench of AT to examine if ITC or Tax Rate Reductions result in Price Decrease: CBIC

MCA notifies Ind AS 104 for Insurance Contracts

ICAI Stands Committed to Well-being of Chartered Accountants

Income Tax Act Simplification: Govt to Invite Suggestions from Industry