Employee of Company Can not be penalized or prosecuted for the GST Default of the Company Summary in Key Points: Issue: Whether a mere employee of a company can be penalized and prosecuted under the GST Act for actions of another company, where the employee is not a taxable person under the Act. Facts: The… Read More »
Supreme Court Upholds Bombay High Court Order Quashing Personal Penalty on Authorized Signatories Under GST Summary: The Supreme Court of India upheld the Bombay High Court’s decision to quash show cause notices issued by the Revenue department seeking recovery of Rs. 3731 Crore from authorized signatories under the GST Act. The High Court had held… Read More »
Decoding Section 194T Income Tax Act : TDS on Payments to Partners The introduction of Section 194T in the Income Tax Act, 1961, has brought about a significant change in the tax landscape for partnership firms. Effective from 1st April 2025, this section mandates Tax Deducted at Source (TDS) on certain payments made by firms… Read More »
Section 269T of the Income Tax Act : Challenges for Firms in TDS Compliance This Article provides a good overview of the challenges firms face with Section 194T of the Income Tax Act, which mandates TDS on payments to partners. Here are some key takeaways: Section 194T to come on the statute by the Finance (No.… Read More »