Latest from Tax laws

Case Summary of Raja Benoy Kumar Sahas Roy v/s C.I.T

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Raja Benoy Kumar Sahas Roy V/S C.I.T Issue Raised: Whether the income arrived comes under the definition of "Agricultural Income" or not? Petitioner: The Commissioner Of Income-Tax, We...

Summary Of Case Raja Benoy Sahas Roy v/s C.I.T

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Facts of the case: Here Respondent owns 6000 acres of forest of sal and piyasal trees. The forest was of spontaneous growth and it was 150 years old. Respondent used to sell those trees and...

GST Returns: How And When To File Them

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Goods and Services Tax (GST) as introduced in 2017 has the objective to fulfil the notion of One Nation One Tax One Market. It is a form of indirect tax which combined nearly all the taxes levi...

GST And Recent Development In Exemption Under GST

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Goods & Services Tax is a form of Indirect tax which is mainly levied by the government on goods and services being provided and not on the income, profit or revenue of a person. Under GST ...

Case Analysis Of R.K. Jain v/s. Union Of India 1993 Air 1769

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This is a case analysis of a renowned case, R.K. Jain Vs Union of India & Ors. (1993), which was a Writ Petition in the form of a P.I.L. The case has been summarized and analyzed under the ...

Case Analysis On: ITC LTD v/s Agricultural Produce Market Committee And The M...

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The main significance in the present case is that this case involved a controversy between the working of two Acts: The Tobacco Board Act of 1975, enacted by the Parliament, and the Bihar Agric...

Modern Uses Of Indian Trust Act 1882

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Decoding Mutual Funds Registered Under SEBI Mutual funds are registered under the Indian trust act 1882. They are private trusts that are publicly traded on the stock exchange. To understand ...

NFT's And Its Current Scenario In India

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There's nothing like an explosion of blockchain news to leave you wondering what the NFT's What are NFTs? What does it stand for? NFTs are non-fungible tokens that we can use to represent own...

Assessment and Taxation of HUF

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Under section 2(31) of the Income-tax act, 1961 Hindu Undivided Family (HUF) is treated as a 'person'. A Hindu Undivided Family is assessed to income tax as a separate independent unit. The mea...

GST on Food Service

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GST on Food and Restaurants:Good and Services Tax on food services items in India can be 5%,12% or 18%. Its depends upon the location of the restaurant and its establishment type, location and ...