Fraudulent Non-Filing: Inapplicability of the ‘Escape Clause’ Under Section 74 Facts The Default: For the Financial Year 2017-18, the assessee raised invoices totaling ₹20.92 crores, which included a GST component of ₹3.19 crores. Non-Compliance: Despite collecting/raising invoices for these amounts and receiving partial payments from clients, the assessee failed to file monthly GSTR-3B returns and… Read More »
Invalidity of Service Tax Demands Based Solely on Form 26AS and Misuse of Extended Limitation Facts The Projects: The appellant assessee was awarded prestigious civil construction contracts, including the Legislative Assembly of Nagaland at Kohima (by PWD) and a school building (by the Development Authority, Nagaland). The Exemption Claim: The Petitioner contended that these were… Read More »
Invalidity of Composite Assessment Orders Spanning Multiple Financial Years Facts The Scope: The Petitioner, a registered company, was served with a single, composite assessment order covering a period from November 2020 to October 2023. The Overlap: This period spanned across multiple tax periods and more than one financial year. The Challenge: The Petitioner approached the… Read More »
Breach of Natural Justice: Mandatory Personal Hearing Before Rejection of Refund Claims Facts The Business: The Petitioner is a Private Limited company engaged in IT/ITES exports. During the period from January 2024 to June 2024, they made zero-rated supplies without the payment of IGST. The Claim: The Petitioner filed for a refund of unutilized Input… Read More »
Taxability of Pension as per Income Tax Act 2025 Here is the updated guide on the Taxability of Pension, strictly as per the provisions of the Income-tax Act, 2025 and the Income-tax Rules, 2026: Video Regarding Taxability of Pension as per Income Tax Act 2025 Taxability of Pension Introduction Pension income is taxable under the… Read More »
HOW TO DOWNLOAD TDS CERTIFICATE PURCHASE OF PROPERTY NEW INCOME TAX ACT 2025 [Video] HOW TO DOWNLOAD TDS CERTIFICATE PURCHASE OF PROPERTY NEW INCOME TAX ACT 2025 Form 132 Income Tax Rules 2026 Certificate under section 395(4) for tax deducted at source Your Query solved how to download tds certificate for tds on property, tds certificate for… Read More »
Taxation of Capital Gains for Non-Residents Introduction Capital gains tax applies to income from the transfer of a capital asset. For non-residents, specific provisions govern aspects like period of holding, cost of acquisition, foreign currency fluctuations, and computation methods. Taxability of Capital Gains Capital gains from an asset in India: Always taxable in India underSection… Read More »
Taxation of Royalty and Fees for Technical Services (FTS) for Non-Residents The taxability of royalty or FTS income for a non-resident depends on factors such as the place of accrual, existence of a Permanent Establishment (PE) in India, the date of the agreement, and Double Taxation Avoidance Agreements (DTAAs). For agreements entered into on or… Read More »
Taxation of Interest Income of Non-Residents A non-resident is taxed in India on interest income that accrues, arises, or is deemed to accrue or arise in India. Interest received in India is also taxable. While interest is generally taxed at normal rates, certain categories of interest income are subject to concessional tax rates on a… Read More »
Taxation of Dividend Income of Non-Residents Dividend income received by a non-resident from an Indian company is always taxable in India. However, dividends from a foreign company are taxable in India only if received in India. Unlike regular income, dividends for non-residents are taxed on a gross basis at concessional rates. Taxability of Dividend Income… Read More »