25 Feb, 2025
Introduction The Kerala High Court has ruled that issuing a consolidated GST show cause notice (SCN) for multiple financial years prejudices the assessee by restricting their ability to respond effectively. The limitation period for adjudication gets pegged to the earliest year mentioned in the notice, leading to potential legal disadvantages. This ruling clarifies the adjudication […]
Read More25 Feb, 2025
RBI’s Move to Ease Withdrawal Limits at New India Co-op Bank The Reserve Bank of India (RBI) has permitted depositors of New India Co-operative Bank, Mumbai, to withdraw up to ₹25,000 from their accounts starting February 27, 2025. This move will benefit over 50% of the bank’s depositors, allowing them to access their full savings. […]
Read More24 Feb, 2025
Introduction The Income Tax Bill, 2025, introduced in Lok Sabha on February 13, 2025, marks a significant reform in India’s tax landscape. It aims to replace the Income Tax Act, 1961, which has undergone numerous amendments over time, making it complex and difficult for taxpayers to navigate. This new bill focuses on simplification, efficiency, and […]
Read More24 Feb, 2025
Introduction Market volatility often brings uncertainty, but it also presents opportunities for investors to buy quality stocks at discounted prices. Top Nifty50 stocks, evaluated based on key financial metrics, can provide stability and potential returns even in uncertain conditions. Stock Reports Plus, powered by Refinitiv, assesses over 4,000+ listed stocks based on five key components: […]
Read More24 Feb, 2025
Indian Markets Open Lower Amid Bearish Sentiment The Indian stock market started the week on a weak note, with the Nifty index opening at 22,609, marking a gap-down opening and hitting an 8-month low. The Sensex also followed suit, opening lower amid rising concerns over continued bearish sentiment. Market Highlights: Sectoral Performance: Multi-Month Lows Across […]
Read More22 Feb, 2025
Introduction The AI industry is evolving rapidly, and the latest breakthrough, Grok 3, developed by xAI, has caught the attention of tech enthusiasts and businesses alike. Touted as a next-gen AI, Grok 3 is making waves with its superior coding abilities, search engine integration, and human-like interaction. Some even speculate that Grok 3 could challenge […]
Read More22 Feb, 2025
CBDT’s Tax Comparison Tool: A Smart Way to Evaluate Your Tax Liabilities The Central Board of Direct Taxes (CBDT) has introduced a Tax Comparison Tool under the Finance Bill 2025, designed to assist taxpayers in understanding potential changes in their tax liabilities. This tool offers a detailed comparison of total tax payable under the existing […]
Read More22 Feb, 2025
Introduction: The Changing Face of Nifty 50 The National Stock Exchange (NSE) has announced significant changes to the Nifty 50 index, with Zomato and Jio Financial Services Ltd. set to replace Britannia Industries Ltd. and Bharat Petroleum Corporation Ltd. (BPCL) from March 28, 2025. This reshuffle has sparked debates among market participants, raising questions about […]
Read More22 Feb, 2025
Introduction A recent judicial ruling has clarified a crucial aspect of GST Input Tax Credit (ITC) utilization, setting a precedent for businesses navigating tax compliance. The case revolved around a writ petition challenging the rejection of ITC due to an alleged misapplication of CGST/SGST instead of IGST, despite no actual loss of revenue to the […]
Read More22 Feb, 2025
Kerala High Court Rules Against Retention of Seized Cash by GST & IT Departments The Kerala High Court, in a significant ruling, has held that seized cash cannot be retained by either the Goods and Services Tax (GST) Department or the Income Tax (IT) Department before the conclusion of legal proceedings. The decision was made […]
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