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However, income tax rules offer additional tax benefits to senior citizens. To claim these benefits, the individual must be of the age of 60 years or above but less than 80 years at any time during the respective year.
The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that Cenvat Credit Rules, 2004 and Central Excise Act, 1944 lacks provision to allow cash refund of cesses lying...
The company has received an order from the Principal Commissioner of CGST & Central Excise, Mumbai, Maharashtra imposing a penalty of Rs 1,83,17,388 under applicable provisions of the Central Goods and Services Tax Act, 2017 and Maharashtra Goods and Services Tax Act, 2017, Cipla said in a regulatory filing
The Rajasthan High Court has held that once the deduction claim for education cess is withdrawn, the assessee is immune from the imposition of a penalty under Section 270A of the Income Tax Act.The...
In a regulatory filing, Mahindra & Mahindra said it has received an order from the office of the Deputy Commissioner, State Tax, Audit Wing, Indore-01, Madhya Pradesh imposing a penalty amounting to Rs 4,11,50,120 to the two-wheeler business of Mahindra Two Wheelers Ltd (MTWL), which was demerged from MTWL and has since been merged with the company.