The Central Board of Direct Taxes (CBDT) has extended the deadline for filing income tax returns for resident individuals to Jan. 15, 2025, from Dec. 31, 2024. ET Year-end Special Reads The extension applies to belated returns filed under Section 139(4) and revised returns filed under Section 139(5) of the Income Tax Act, 1961, the … Read more
Maruti Suzuki India (MSI) on Wednesday said a Haryana GST appeals authority has upheld a tax demand of Rs 139.3 crore against the company. “The Commissioner (Appeals) has passed an order for period July 2017 to August 2022 upholding the demand of Rs 1,393 million, in matter of tax liability under reverse charge basis on … Read more
The Supreme Court has rejected the income tax department’s petition seeking review of its March 2021 judgment that held that payments made to non-residents for software purchase can’t be taxed as royalty.The revenue authorities had termed these cross-border payments made to foreign software companies and distributors for the software purchase as royalty. The rationale being … Read more
