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Securing Your Golden Years: Navigating the SCSS and PPF Landscape
The Senior Citizen Savings Scheme (SCSS) and Public Provident Fund (PPF) are government-backed investment avenues that offer a safe haven for individuals seeking long-term financial security. With their tax-free interest earnings and flexible withdr…
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Secure Your Future: Navigating the World of General Provident Fund
The General Provident Fund (GPF) is a government-backed savings scheme that offers a safe and reliable investment option for salaried individuals. With its tax-free interest earnings and the flexibility to make partial withdrawals, the GPF provides …
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Wealth Creation: Unlocking the Power of Equity Investments
Fixed-income investments like PPF may offer stability but often fail to outpace inflation, limiting long-term wealth generation. Equity investments, though riskier, have the potential to deliver superior returns over time, making them a crucial comp…
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Unlock Tax-Free Wealth: PPF, SSY, and EPF Contributions Pave the Way
Embark on a journey towards financial freedom with investment avenues that offer tax-free returns. The Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and Employees' Provident Fund (EPF) stand as pillars of tax-efficient wealth creation…
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Unlock Tax-Free Wealth: PPF, SSY, and EPF Contributions Pave the Way
Embark on a journey towards financial freedom with investment avenues that offer tax-free returns. The Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and Employees' Provident Fund (EPF) stand as pillars of tax-efficient wealth creation…
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Unlock Effortless Savings: PPF and SSY Contributions via NEFT
Canara Bank introduces a groundbreaking facility enabling customers to contribute to their Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) accounts through NEFT from any bank. This innovative step streamlines long-term savings, ensuri…
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Seamless Savings: Canara Bank Unlocks Convenient PPF, SSY Contributions
In a move to streamline financial planning, Canara Bank has introduced a game-changing facility that allows customers to contribute to their Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) accounts via NEFT from any bank. This innovat…
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Safeguarding Your Financial Future: The Importance of Timely Contributions
In the realm of financial planning, adhering to deadlines is paramount. This comprehensive guide delves into the consequences of missing the March 31st deadline for contributing to vital investment schemes like the Public Provident Fund (PPF), Sukan…
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Safeguarding Your Financial Future: The Importance of Timely Contributions
In the realm of financial planning, adhering to deadlines is paramount. This comprehensive guide delves into the consequences of missing the March 31st deadline for contributing to vital investment schemes like the Public Provident Fund (PPF), Sukan…
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Safeguarding Your Legacy: The Power of Nomination in Banking
In the realm of financial planning, ensuring the seamless transfer of assets to loved ones is a paramount concern. This comprehensive guide delves into the intricate world of nominations, a powerful tool that empowers individuals to designate benefi…
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Unlocking Tax-Efficient Wealth: PPF vs VPF - The Smarter Choice
In the quest for tax-efficient investments that nurture long-term financial goals, two contenders emerge: the Public Provident Fund (PPF) and the Voluntary Provident Fund (VPF). While PPF has been a traditional favorite, VPF offers an enticing alter…
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Navigating the PPF Journey: Maximizing Returns Beyond Maturity
The Public Provident Fund (PPF) offers a secure and tax-efficient investment avenue for individuals seeking long-term wealth accumulation. However, as the 15-year lock-in period concludes, account holders face pivotal decisions that can significantl…
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Navigating PPF Accounts: Ensuring Compliance for NRIs
PF & ESI,Mar. 30, 2024Non-Resident Indians (NRIs) have the opportunity to invest in the Public Provident Fund (PPF), a secure long-term savings scheme. However, specific guidelines govern the operation and closure of these accounts to maintain their regular status and reap the associated benefits. This comprehensive guide explores the nuances of managing PPF accounts for NRIs, ensuring compliance with regulations and maximizing returns.
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Safeguarding Your PPF Investment: Navigating Irregularities
PF & ESI,Mar. 30, 2024Investing in the Public Provident Fund (PPF) offers a secure avenue for long-term wealth creation. However, certain circumstances can render your PPF account irregular, potentially impacting its benefits. This comprehensive guide explores the scenarios that could lead to an irregular PPF account status and provides insights into mitigating such situations, ensuring your investment remains compliant and fruitful.
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Unlock Global Opportunities: Navigating Foreign Investment Avenues
Stock Market,Mar. 30, 2024Investing in foreign markets opens up a world of possibilities, diversifying portfolios and tapping into global growth. However, it's crucial to understand the nuances and regulations that govern international investments. From leveraging tax treaties to navigating foreign exchange norms, this comprehensive guide equips investors with the knowledge to make informed decisions and maximize returns while mitigating risks. Explore the intricacies of fo…
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Court upholds GST on intermediary services provided by Indian agents to foreign…
Goods & Services Tax,Feb. 20, 2021The Gujarat High Court dismissed a petition challenging the constitutional validity of Section 13(8)(b) of the Integrated Goods and Services Tax (IGST) Act, 2017. The petitioner, an association of recycling industries, argued that the provision, which treats the location of the service provider as the place of supply for intermediary services, is unconstitutional and ultra vires. However, the court upheld the provision, stating that it is within th…
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Transfer pricing dispute: Court allows capacity adjustment for low plant utiliz…
Income Tax,Dec. 03, 2020This case involves a transfer pricing dispute between an Indian company, Giesecke & Devrient (India) Pvt. Ltd., and the Indian tax authorities. The company challenged the transfer pricing adjustments made by the tax authorities for its software development and SIM card assembly segments. The court allowed the company's claim for a capacity adjustment due to low plant utilization but remanded other issues back to the tax authorities for reconsiderat…
Exporters' Boon or Bane? Navigating Rule 96(10)'s Complexities
A pivotal rule governing IGST refunds for exporters, Rule 96(10) of the CGST Rules has undergone numerous amendments, creating a labyrinth of conditions and exceptions. This intricate web aims to strike a balance between facilitating exports and preventing misuse of tax benefits. Exporters must tread carefully, as non-compliance can lead to refund denials, interest liabilities, and penalties. Understanding the rule's nuances is crucial for seamless…
Goods & Services Tax,Apr. 25, 2024-
The revenue authorities cannot take advantage of their own mistakes and deny in…
Goods & Services Tax,Apr. 25, 2024The case revolves around a registered dealer, M/s Alok Traders, who sought interest on a delayed refund of the amount deposited for the release of goods under Section 129 of the CGST Act, 2017. The Allahabad High Court ruled in favor of the assessee, directing the revenue authorities to pay interest for the period from September 9, 2018, to March 31, 2022, at the rate notified under Section 56 of the CGST Act.
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Gujarat HC rules - denying refund of unutilized input tax credit on input servi…
Goods & Services Tax,Apr. 25, 2024The case revolves around several petitioners, including VKC Footsteps India Pvt. Ltd., who challenged the validity of Rule 89(5) of the Central Goods and Services Tax (CGST) Rules, 2017, which denied refund of unutilized input tax credit on input services in cases of inverted duty structure. The Gujarat High Court ruled in favor of the petitioners, holding that the restriction imposed by the Rule is ultra vires (beyond the scope) of Section 54(3) o…
Exporter entitled to IGST refund despite availing higher drawback rate; circula…
Goods & Services Tax,Mar. 02, 2021The case involved an exporter, M/s Amit Cotton Industries, who had exported goods and paid Integrated Goods and Services Tax (IGST). They claimed a refund of the IGST paid but were denied by the customs authorities because they had availed a higher drawback rate. The High Court of Gujarat ruled in favor of the exporter, stating that availing a higher drawback rate was not a valid ground to withhold the IGST refund, and a circular issued by the gove…
Software firm wins transfer pricing case as tax officer's comparable selections…
This case involves LSI Technologies India (P.) Ltd., a wholly-owned subsidiary of a Cayman Islands company, rendering software development services to its associated enterprise (AE). The Income Tax Officer (ITO) made a transfer pricing adjustment, increasing LSI's arm's length price (ALP) for the services rendered to its AE. LSI challenged the ITO's selection of certain companies as comparables for determining the ALP. The Income Tax Appellate Trib…
Income Tax,Apr. 25, 2024-
Goods & Services Tax , May. 19. 2022Supreme Court upholds GST refund formula in Rule 89(5) of CGST Rules, overrules…
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Goods & Services Tax , Apr. 25. 2024Court allows refund claim filed electronically within time, overriding circular…
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Goods & Services Tax , Apr. 11. 2024Refund of accumulated ITC allowed when input tax rate higher than output, even …
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Goods & Services Tax , Apr. 11. 2024Refund of GST on export of services allowed despite payment being received in I…
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Goods & Services Tax , Jan. 20. 2023GST Refund Claim Allowed Despite Procedural Lapse
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