News Muncher - searching for liability

9 hours, 11 minutes ago

Tax burden on corporate sponsorships eased

New Delhi: The Goods and Services Tax Council’s decision on Saturday to tweak a rule on corporate sponsorships is set to make these deals more tax efficient and the recipient of funds better off, officials and experts said. The Council’s decision to shift the onus of remitting tax on sponsorship deals from the donor—that is, the entity that receives the …

Sponsorship Tax Council Event Sehgal Corporate Sponsorship Corporate Sponsorships

1 day, 18 hours ago

S.138 NI Act | Director Who Signed Cheque Not Liable For Dishonour When Company Hasn't Been Added As Accused : Supreme Court

Live Law

The Supreme Court reiterated that the authorised signatory of a company cannot be held liable under Section 138 of the Negotiable Instruments Act, 1881 for dishonour of a cheque drawn on the company's account unless the company is arraigned as the principal accused. The Sessions Court upheld the conviction, but the Calcutta High Court reversed it, ruling that the cheque …

Supreme Court Court Director Company Accused Held Fir

2 days, 15 hours ago

'Hiring' Of Helicopters By Andaman & Nicobar Admin Not Exigible To Tax Under Central Sales Tax Act: Delhi High Court

Live Law

The Delhi High Court has held that the supply of helicopters by Pawan Hans Ltd. to the Andaman & Nicobar Islands administration, under an agreement executed in the year 2003, is not exigible to tax under the Central Sales Tax Act, 1956. Disagreeing with the Tribunal, the High Court said that the clauses pertaining to confidentiality and security were hardly …

Tax Court Control Transfer Administration Right Tribunal

3 days, 3 hours ago

Ravens CB Marlon Humphrey is trying to reduce stress, and he’s enjoying a bounceback season

Associated Press

— Marlon Humphrey’s approach to football — and really his approach to life — has changed a bit this year. I was like, ‘Well this is better than being almost late.’” Baltimore’s 35-14 road win over the New York Giants last weekend was Humphrey’s 13th start of the season, a mark he has reached twice in the last four years. …

Season Think Ravens Baltimore Humphrey

3 days, 13 hours ago

Bitcoin Taxation: This lesser-known rule cut a techie’s tax liability to just ₹33 lakh on ₹6.64 crore in crypto gain

Live Mint

Bitcoin taxation case: An ex-Infosys employee recently won a case against the Income Tax department after the Jodhpur income tax appellate tribunal decided that the cryptocurrency sold by the person was a capital asset. The ITAT stated that the person should be allowed to pay a lower tax rate on his profit from the sale and claim ₹4.95 crore as …

Tax Cryptocurrency Sale Crypto Bitcoin Capital Gain

3 days, 21 hours ago

Employee Of Aided Schools Can Directly Recover Grant In Aid From The State Government : Rajasthan High Court

Live Law

A single judge bench of the Rajasthan High Court, comprising of Justice Sudesh Bansal held that the grant-in-aid can be sanctioned and paid directly by the State Government to the employees of the aided educational institutions. The Rajasthan Non-Government Educational Tribunal, Jaipur directed that for employee's dues against pay & allowances, arrears of salary on revision of pay-scale and grant …

Rajasthan Court State Government Pay Interest Payment State

4 days, 10 hours ago

J&K High Court Orders ₹11.63 Lakh Compensation To Family Of Electrician Electrocuted During Repair Work

Live Law

Upholding the principle of respondeat superior, the Jammu and Kashmir and Ladakh High Court has awarded ₹11.63 lakh as compensation to the family of an electrician who lost his life due to electrocution while conducting repairs on an 11 KV power line. 11,63,000/- along with interest @7.5% per annum in favour of the petitioners from the date of filing of …

Compensation Court State Singh Repair Petition Repair Work

4 days, 16 hours ago

Income tax investment declaration: When you change job, this is what you should do

Live Mint

This is the time of the year to submit proof of investment with your employer in order to claim tax exemption. Finally, when he will file his income tax return in July next year, the tax calculation will turn out to be more than the TDS deducted by his employer. Investment declaration: If you have not shared information of investment …

Investment Income Tax Employer Tds Tax Lakh Income Claim Exemption

5 days, 13 hours ago

CII Focuses on Boosting MSME Exports

Deccan Chronicle

New Delhi: Leading industry body Confederation of Indian Industry on Wednesday said that it would focus on critical challenges which hinder manufacturing and export growth, especially in small business segments. “Deeper integration into global value chains, enhanced digital trade infrastructure and a focus on building the competitiveness of micro, small and medium enterprises will help India more than double its …

India Cii

6 days, 1 hour ago

Tamil Nadu MP writes to PM Modi, seeks tax waiver on Gukesh's cash prize

India Today

Tamil Nadu Congress MP R Sudha has written to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman, urging a tax waiver on the prize money won by newly crowned World Chess Champion Dommaraju Gukesh. Sudha emphasised that precedent exists for such waivers, citing instances during Congress governments when sports icons like Sachin Tendulkar and Ravi Shastri received exemptions …

Tamil Nadu Congress Gukesh Sudha

6 days, 13 hours ago

Employee's Compensation Act, 1923; To Absolve Liability, Insurer Must Prove Negligence By Employer In Verifying Employee's Driving License: Bombay High Court

Live Law

Bombay High Court: A single judge bench consisting of Justice Nitin B. Suryawanshi overturned a Labour Court order that dismissed a compensation claim under the Employee's Compensation Act, 1923. Further, citing Nirmala Kothari v. United India Insurance Co. Ltd., they argued that the insurer couldn't deny liability simply due to the absence of a driving license. Court's Reasoning The court …

High Court Compensation Evidence Labour Driving Fir Tiwari

6 days, 17 hours ago

Direct retail inflows hit a three-year high at nearly ₹1 trillion

Live Mint

Retail investors trading directly on NSE bought nearly ₹1 trillion worth of shares cumulatively between April and November, nearly eclipsing their total purchases in the previous two financial years combined. A three-year high Retail investors bought shares worth a net ₹29,594 crore in October, followed by direct retail purchases of ₹9,192.72 crore in November, as per the daily data submitted …

Market Retail Investors Nifty High Direct Trillion Nse

6 days, 18 hours ago

NI Act | College Cannot Be Equated To A Company, Principal Not Vicariously Liable For Signing Cheque: Madras High Court

Live Law

The Madras High Court recently quashed the proceedings initiated against a Principal of a college under Section 138 of the Negotiable Instruments for signing a cheque that was returned for “insufficient funds”. While doing so, Justice Anand Venkatesh held that the Principal had not signed the cheque in his individual capacity, and since a college could not be equated to …

Court College Liability Act Trustee Principal Managing

6 days, 21 hours ago

Immortality In Metaverse: Exploring Social, Legal & Psychological Challenges

Live Law

Metaverse is an intersection of cyber-physical social system that gives rise to a multi-user, post-reality, fully immersive 3-D cyberspace by amalgamating Augmented Reality, Virtual Reality, Extended Reality, Artificial Intelligence and blockchain technology. Even if a user dies physically, user's AI avatar can continue to exist in the metaverse autonomously and perform its functions without the consent or permission of the …

Social World Legal Data Psychological Criminal Behaviour Family Members

1 week, 1 day ago

ITR advance tax deadline today: Who all should pay these taxes? All you need to know

Live Mint

As the third installment of advance tax is due on December 15, taxpayers are reminded of the importance of adhering to this deadline to stay compliant and avoid penalties. Advance tax, often referred to as the "pay-as-you-earn" tax, is a requirement for individuals and businesses whose tax liability for the financial year exceeds ₹10,000. Salaried individuals are also required to …

Income Liability Advance Tax Deadline 15 Taxpayers

1 week, 2 days ago

ITR Advance Tax Deadline Today: Know how to pay tax before due date to avoid penalty

India TV News

The advance tax deadline is nearing and taxpayers with an income tax liability exceeding Rs 10,000 must pay advance tax by December 15. According to Section 208 of the Income Tax Act, 1961, taxpayers with an estimated tax liability of over ₹10,000 in a year, are required to pay tax in installments in the form of advance tax. As per …

Tax Pay Liability Advance

1 week, 2 days ago

Income tax news: How much money you can save if you pay advance tax on or before December 15— explained

Live Mint

The term "advance tax" describes the portion of income tax that must be paid in instalments by the deadlines rather than all at once. If taxpayers' income tax liability exceeds ₹10,000, they must pay advance tax; otherwise, they will be subject to penalties and penal interest. You can avoid interest penalties under Sections 234B and 234C of the Income Tax …

Mumbai Income Tax Interest Advance Balwant Jain Paid Pay

1 week, 3 days ago

Section 33-C(2) I.D. Act Is Similar To Execution Provision, Liability To Pay Should Be Pre-Decided : Punjab & Haryana HC

Live Law

A single bench of Punjab & Haryana High Court comprising of Justice Jagmohan Bansal held that the employee cannot approach Labour Court under the Section 33-C of the I.D. Further the case of Bombay Chemical Industries v. Labour Commr., was relied upon by the court wherein the Supreme Court held that when a workman's employment status is disputed and lacks …

Court Labour Pay Respondent Act Corporation Labour Court

1 week, 4 days ago

Switzerland withdraws tax MFN status on Indian companies over SC ruling on Nestle

New Indian Express

NEW DELHI: In a retaliatory action, the government of Switzerland has withdrawn the application of the Most Favoured Nation clause on Indian entities operating in the European country. The Swiss authorities took the action after the Supreme Court of India rejected automatic applicability of MFN clause under the bilateral tax treaty between the two countries in a case related to …

Tax Indian Indian Companies Switzerland Swiss Nestle Clause

1 week, 4 days ago

NCLAT appoints NBCC as consultant to complete Supertech's 16 housing projects in UP, Uttarakhand, Haryana and Karnataka

Hindustan Times

In a move that will bring relief to thousands of homebuyers, the National Company Law Appellate Tribunal has appointed the government’s construction arm NBCC as a project management consultant to complete real estate company Supertech Ltd's 16 real estate projects in Uttar Pradesh, Uttarakhand, Haryana and Karnataka at a cost of almost ₹9,500 crore. National Company Law Appellate Tribunal has …

Karnataka Court Uttar Pradesh Haryana Uttarakhand Projects Project

1 week, 4 days ago

Petition U/S 7 Of IBC Cannot Be Barred For Default Committed Prior To S.10A Period: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka has held that when default has been committed by the Corporate Debtor prior to Section 10A period, any default committed during the Section 10A period cannot be held to bar the application which is filed on the basis of default prior to Section 10A and subsequent …

Corporate Interest Tribunal Period Date Petition Default

1 week, 4 days ago

Income tax news: What happens if taxpayers fail to pay advance tax payment on December 15?

Live Mint

Advance tax payment: The deadline to make your advance tax payment is fast approaching — in only three days, on December 15. For advance tax payments done on or before June 15 — 15 per cent of the dues can be paid. For advance tax payments done on or before September 15 — 45 per cent of the dues can …

Income Tax Tax Payment Payment Advance

1 week, 5 days ago

Advance tax deadline on December 15: What happens if you miss it

India Today

Paying taxes in advance can help you avoid penalties. Taxpayers with an income tax liability exceeding Rs 10,000 must pay advance tax in four instalments—June 15, September 15, December 15, and March 15. PAYMENT DEADLINE ADJUSTMENT FOR PUBLIC HOLIDAYS If the due date for advance tax payment falls on a public holiday, taxpayers can make the payment on the next …

Tax Income Payment Advance

1 week, 5 days ago

Zero Liability For Customers If Unauthorized Transactions Occur Without Their Fault: NCDRC Holds Union Bank Of India Liable For Deficiency In Service

Live Law

The National Consumer Disputes Redressal Commission, presided by AVM J. Rajendra held Union Bank of India liable for deficiency in service owing to occurrence of unauthorized transactions. Contentions of the Bank The bank disputed the registered mobile number for the account and argued that the OTPs for the disputed transactions were sent to the complainant's registered number. Observations by the …

Bank Commission Number Transactions Union Bank Of India Unauthorized Complainant Filed

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Search results for liability

Tax burden on corporate sponsorships eased

S.138 NI Act | Director Who Signed Cheque Not Liable For Dishonour When Company Hasn't Been Added As Accused : Supreme Court

'Hiring' Of Helicopters By Andaman & Nicobar Admin Not Exigible To Tax Under Central Sales Tax Act: Delhi High Court

Ravens CB Marlon Humphrey is trying to reduce stress, and he’s enjoying a bounceback season

Bitcoin Taxation: This lesser-known rule cut a techie’s tax liability to just ₹33 lakh on ₹6.64 crore in crypto gain

Employee Of Aided Schools Can Directly Recover Grant In Aid From The State Government : Rajasthan High Court

J&K High Court Orders ₹11.63 Lakh Compensation To Family Of Electrician Electrocuted During Repair Work

Income tax investment declaration: When you change job, this is what you should do

CII Focuses on Boosting MSME Exports

Tamil Nadu MP writes to PM Modi, seeks tax waiver on Gukesh's cash prize

Employee's Compensation Act, 1923; To Absolve Liability, Insurer Must Prove Negligence By Employer In Verifying Employee's Driving License: Bombay High Court

Direct retail inflows hit a three-year high at nearly ₹1 trillion

NI Act | College Cannot Be Equated To A Company, Principal Not Vicariously Liable For Signing Cheque: Madras High Court

Immortality In Metaverse: Exploring Social, Legal & Psychological Challenges

ITR advance tax deadline today: Who all should pay these taxes? All you need to know

ITR Advance Tax Deadline Today: Know how to pay tax before due date to avoid penalty

Income tax news: How much money you can save if you pay advance tax on or before December 15— explained

Section 33-C(2) I.D. Act Is Similar To Execution Provision, Liability To Pay Should Be Pre-Decided : Punjab & Haryana HC

Switzerland withdraws tax MFN status on Indian companies over SC ruling on Nestle

NCLAT appoints NBCC as consultant to complete Supertech's 16 housing projects in UP, Uttarakhand, Haryana and Karnataka

Petition U/S 7 Of IBC Cannot Be Barred For Default Committed Prior To S.10A Period: NCLAT

Income tax news: What happens if taxpayers fail to pay advance tax payment on December 15?

Advance tax deadline on December 15: What happens if you miss it

Zero Liability For Customers If Unauthorized Transactions Occur Without Their Fault: NCDRC Holds Union Bank Of India Liable For Deficiency In Service