Case Laws on section 2(24) of Income Tax Act Section 2 (24) : Income – Capital or revenue-Receipt representing compensation for loss of source of income would be treated as capital receipt.
Bar of Application for Advance Ruling Where Matter Pending Consideration before income tax Authorities Section 245R (2) provides for the rejection of application for advance rulings. The said section provides that the Authority may, after examining the application and the records called for, by order, either allow or reject the application. The proviso to this […]
Tax invoice, Debit Note and credit Note under GST 1. Introduction Invoice is a document which provides evidence as to existence of transaction of sale or purchase of goods or the agreement of supply. GST act also gives immense importance to invoice and named it as tax invoice containing details provisions as stated hereunder.
Undisclosed Income : CBDT to issue notification to ensure secrecy CBDT is likely to issue a fresh notification making it clear that information about those who declare their black money under the compliance window which ends on September 30 will be kept secret, a senior official said today.
Fat tax impose in kerala on burgers, pizzas in budget Finance minister Thomas Isaac, who presented the revised budget for 2016-17 on Friday, said the government will raise tax revenues through nine schemes, which include introduction of a 14% “fat tax” on burgers, pizzas, tacos, doughnuts, sandwiches, burger patties, pasta and bread-fillings. The budget expects […]