News

Delhi's Chief Minister, Rekha Gupta, conducted a surprise inspection at the State GST office in ITO, and found several officials absent from their duties.

Delhi CM Conducts Surprise Inspection at State GST Office, ITO; Several Officials Found Absent

Judgement

ITAT Mumbai ruled that tax authorities cannot arbitrarily apply a higher presumptive income rate when a taxpayer has correctly declared income under Section 44AD.

No Arbitrary Higher Tax Can Be Imposed When Presumptive Income Is Properly Declared: ITAT

It was observed that profits from one client were shifted to another by changing the codes. This suggested that there was no punching mistake but a deliberate attempt.

ITAT Upholds Addition Due to Non-Genuine Client Code Modifications

The ITAT Bangalore held that interest earned from temporary surplus funds is business income eligible for Section 80P deduction, not “income from other sources".

Interest earned by Cooperative society from temporary deployment Surplus business Funds eligible for Section 80P Deduction: ITAT

The handbook explained GST returns, payment procedures, filing timelines, and compliance rules. It included updates on ITC, IMS, Rule 88C, and ISD, helping users understand practical aspects easily.

ICAI Issues March 2026 Edition of Handbook on Returns and Payments Under GST

The IT Department has replaced old Form 49B with new Forms 134 and 135 to simplify the TAN application process.

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Delhi CM Conducts Surprise Inspection at State GST Office, ITO; Several Officials Found Absent

No Arbitrary Higher Tax Can Be Imposed When Presumptive Income Is Properly Declared: ITAT

ITAT Upholds Addition Due to Non-Genuine Client Code Modifications

Interest earned by Cooperative society from temporary deployment Surplus business Funds eligible for Section 80P Deduction: ITAT

ICAI Issues March 2026 Edition of Handbook on Returns and Payments Under GST

Applying for TAN? Here’s What’s Changed with the New Forms