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Ola and Uber are permitted to tack on a 10% surcharge in addition to the GST, and the Karnataka High Court has ordered the government to fix the price of app-based autorickshaws within 15 days

The High Court of Karnataka has ordered the State government to determine the rate of app-based auto rickshaw aggregators within 15 days, which is an important decision. Up until that point, the Court has permitted the service providers to levy an extra 10% fee on top of the government-set rate. The government set the auto…

ITAT confirms that JDA income is considered business income

The Revenue Tax Appellate Tribunal (ITAT), Bangalore upheld the revision judgment made by Section 263 of the Income Tax Act of 1961 and determined that the income from Joint Development Agreements (JDA) is considered commercial income. Before issuing the aforementioned notice according to Section 133C, the Income Tax Officer questioned the appellant, M/s. ETA Star…

Are you thinking about giving NFTs, cryptocurrencies, or VDAs this Diwali? Here is all you need to know about taxes, as well

Festivals and giving go hand in hand, and the festivities are made even more joyful and rewarding when we offer presents to the people we care about most—our family, friends, and acquaintances. Consider giving cryptocurrencies, non-fungible tokens (NFTs), other virtual digital assets (VDAs), and the like this holiday season if you want to give a…

GST on packaged parathas is 18%: Gujarat Appellate AAR

The 18% Goods and Services Tax (GST) is applicable on parathas, according to the decision of the Gujarat Appellate Authority of Advance Finding (AAAR), which affirmed the ruling of the Authority of Advance Ruling (AAR). The two-member panel said that parathas cannot be categorized as simple chapati or roti since they are distinct from other…

Investing in NPS has several tax benefits

The tax benefits that the National Pension System (NPS) provides to its members are only one of the many perks it offers. Any person who joins NPS is eligible to claim tax advantages. Tax advantages can be obtained by deducting contributions made to NPS from one’s income tax as well as by taking tax-free distributions…