How to file form 10-IC? Purpose of Form 10-IC [00:03]: This video explains Form 10-IC, which is an application for domestic companies to opt for paying income tax, surcharge, and cess at a concessional rate of 22%, subject to certain conditions. Who Can File [00:21]: Domestic companies registered on the e-filing portal. Companies must have… Read More »
How to download ITR-V? Purpose of ITR-V [00:03]: This video explains how to download the ITR-V (Income Tax Return Verification) form. The ITR-V is an acknowledgment receipt sent by the Income Tax Department upon successful receipt of a taxpayer’s Income Tax Return. Importance of ITR-V [00:11]: If a taxpayer files an Income Tax Return but… Read More »
Change your e-filling password Purpose [00:01]: This video guides you on how to change your e-filing password. Prerequisites [00:04]: To change your password, you need a valid and active Permanent Account Number (PAN) and your existing e-filing password. Steps to Change Password [00:15]: Log in: Log in to the e-filing portal using your User ID… Read More »
Taxpayer Assistance through Co-Browsing Introduction to Co-Browsing [00:04]: This video introduces the co-browsing facility, initiated to provide taxpayer assistance through the help desk. What is Co-Browsing? [00:18]: Co-browsing allows help desk agents to access a taxpayer’s browser in real-time with a click of a button. With the taxpayer’s permission, agents can securely view and navigate… Read More »
A revision of an assessment isn’t valid without specific adverse material against the assessee. Issue Can a completed assessment, where a deduction was allowed after due verification, be revised under Section 263 of the Income-tax Act, 1961, based on general adverse findings against a third party (in this case, a political party), without any specific… Read More »
Mere uploading of an order to the GST portal is not a valid “communication,” and the time limit for an appeal doesn’t start until the order is properly served. Issue Does the mere act of uploading an adjudication order onto the GST portal constitute a valid “communication” of that order to the taxpayer, thereby starting… Read More »
A subsequent Supreme Court ruling isn’t a valid ground to rectify a final ITAT order. Issue Can the Income Tax Appellate Tribunal (ITAT) use its power of rectification under Section 254(2) of the Income-tax Act, 1961, to recall its own final order just because a subsequent judgment by the Supreme Court has overruled the legal… Read More »
An appellate authority cannot reverse a sanctioned refund by ignoring evidence on the record. Issue Can a GST Appellate Authority reverse a refund that has already been sanctioned, on the grounds that proof of export was not properly considered, when the case record clearly shows that the taxpayer had in fact submitted the required proof… Read More »
A hotel cannot cite “market dynamics” to justify not passing on a GST rate cut. Issue Can a hotel avoid the charge of profiteering under Section 171 of the CGST Act, 2017, by claiming that an increase in its base price, which completely offset a GST rate reduction, was a result of market dynamics or… Read More »
Cash is “property” under the wide definition in the Benami Act. Issue Does cash (physical currency) fall within the definition of “property” under Section 2(26) of the Prohibition of Benami Property Transactions Act, 1988, making it subject to the provisions of the Act? Facts The case involved the seizure of a large amount of cash,… Read More »