Hence, if a bank had earlier routed BDDR through reserves, no deduction would be allowed under income tax. Now, with RBI mandating P&L routing, co-operative banks can rightfully claim tax deduction, ...

The Income Tax Appellate Tribunal (ITAT) Amritsar has deleted an addition of Rs. 4.72 lakh made to the income of senior citizen Balbir Kaur for Assessment Year 2012-13. The addition stemmed from a ...

If there will be a tax savings in future then deferred tax assets will be created. Tax savings in the current year do not determine the creation of DTA. 5. When to create DTL:- Deferred tax liability ...

Traces has recognised that the issue is a recurring issue, the TRACES portal (TDS Reconciliation Analysis and Correction Enabling System) has introduced a refund mechanism in respect of such ...

Accurate classification of materials and inventory is central to transparent financial reporting, particularly under the ...

The Reserve Bank of India’s Monetary Policy Committee (MPC), chaired by Governor Sanjay Malhotra, met from June 4-6, 2025, ...

According to the GST Act, there is no provision for filing revised returns. Consequently, once GSTR-1 and GSTR-3B are filed, ...

1. (1) These rules may be called the Companies (Accounts) Second Amendment Rules, 2025. (2) They shall come into force with ...

The statutory time frame provided to a taxpayer for filing an appeal before GSTAT is Three (3) months from the date of ...

let’s view summary of tables to be reported in GSTR-1. 1. Taxable No. 4 outward supplies made to registered persons ...

The Banking Laws (Amendment) Act, 2025 promises more options for depositors with new nomination rules. But unless important legal and practical issues are resolved, these well-meaning reforms might ...

1. The petitioner would submit that with the assistance rendered by the good office of the learned Additional Government Pleader, Mr. Siddiqui, the petitioner could ultimately file the appeal under ...