Maintaining that a tax exemption notification should be interpreted strictly, the Supreme Court recently ruled that it was for the assessee to show that his case fell within the parameters of the exemption clause or exemption notification and he can’t claim the benefit of ambiguity in such notification. The benefit of doubt will go to the tax authorities.
Rahul Jain, Partner with inputs from Mansi Chopra, Manager contributed an article on Tightening the screws on tax exemption for Hindu Business Line
The Central Board of Direct Taxes (CBDT) has put off till March 31, 2019, the proposed GST and GAAR reporting under the amended tax audit form. This dispensation would be available for tax audit reports to be furnished on or after August 20 but before April 1, 2019.
Our experts contributed their views on aforementioned story for following publications:
- I-T defers inclusion of GST, GAAR in audits – Rahul Jain, Senior Partner for Livemint.
In a taxpayer-friendly move, the income tax department has notified a scheme aimed at eliminating the physical interface between taxpayers and the department. The Centralized Communication Scheme 2018 will facilitate electronic issuance of notices to taxpayers, requiring them to furnish information or documents for the purpose of verification in a prescribed format.
- Rahul Jain, Partner shares his views on aforementioned story for following publications:
- Hindu Business Line
Rahul Jain, Partner shares his views on Number of Income Tax Non-Filers Falls By Half In 2017 for Bloombergquint.