Flavored milk is a drink that will be taxed, according to AAAR regulation. Flavored milk is not milk; it is…
Income tax ‘raids’: What’s the similarity among both surveys and searches?
The Income Tax Department (I-T Deptt) conducted “searches” at over 100 sites in Maharashtra, Delhi, Haryana, and Uttar Pradesh on…
Will your APY donation be tax-deductible if your membership expires for income taxpayers?
From October 1, 2022, income taxpayers will be prohibited from investing in the Atal Pension Yojana (APY). The question now…
Analyzing the Impact of Recent GST Guidelines on Section 159 CGST
The Central Board of Indirect Taxes and Customs has released recommendations on the processes that must be followed to prosecute…
Revised, belated and updated income tax returns: Do you know the difference between them?
The deadline to file your income tax return for the fiscal year 2021-22 (the assessment year 2022-23) has gone. In…
Do you get income tax refunds? Save your deduction evidence or face a 200% penalty
Taxpayers are receiving automated online notifications from the Income Tax Department if extra deductions are claimed in the Income Tax…
Will the government impose a 28% flat tax on casinos, internet gambling, and horse racing?
According to government sources, a panel of state finance ministers on casino and internet gambling taxation would likely deliver its…
GST (Tax) on Rentals? Registered tenants must pay an 18% tax on their house rent
According to the new GST laws that went into effect on July 18, a renter who is registered with the…
How much TDS should be deducted when buying a property from an NRI?
If you buy real estate from a Non-Resident Indian (NRI), you must deduct tax (TDS) under Section 195 of the…
The Centre explains the taxation of several items: Ice cream parlours are subject to an 18% GST
As part of a full clarification of the tax duty on a variety of products and services, the Central Board…