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Goods and Services Tax - Article explains Definition of Import of Goods, Import of Goods- Scope of Supply under GST, Levy of GST on Import of Goods, Input tax Credit of GST paid on Import of Goods, Inter-state or Intra State supply, Place of Supply of import of Goods and Import of goods for personal use. Definition of Import of […]...
Read MoreIncome Tax - Taxability in the event dissolution/reconstitution of Partnership Firms have always been point of contentions before various Judicial Forums and the provisions of Income Tax has been amended from time to time to address the ambiguity in taxing the same. Our article is limited to Taxation in following situations 1. Dissolution of Firms 2. ...
Read MoreCompany Law - Article explains about Audit Committee under Section 177, Rule 6 and 7 of Companies (Meetings of Board and its Powers) Rules, 2014, Composition of Audit Committee, Functions of Audit Committee, Powers of Audit Committee, Vigil Mechanism and Penalty for Violation of Audit Committee Provisions. Introduction: Audit Committee is of the major ...
Read MoreIncome Tax - Preface `Gifts` received are specifically dealt with by the provisions embedded in section 56(2)(vii)/(x) inserted with effect from 01st October, 2009 & 01st April, 2017 falling under Part F of Chapter IV of the Income Tax Act, 1961. In the course of professional pursuits, any benefit or perquisite whether convertible in monetary ...
Read MoreGoods and Services Tax - FAQs on Filing of Form GST ITC-02A Q.1 What is Form GST ITC-02A? A person having multiple places of business in a State or Union territory may be granted separate registration for each place of business. If a registered person, who has obtained separate registration for multiple places of business in a State/UT and intends […]...
Read MoreGoods and Services Tax - As our country is passing through an unexpected difficult period where almost all kind of commercial activities have become stand still. The entire country is in the lock down condition, and, either partial or full lock down may continue for some time...
Read MoreGoods and Services Tax - Join Online Self-Learning GST and Income Tax Course at up to 40% discount till 31st May 2020 Sharpen your skills while in Quarantine. As our country fights the Covid-19 and we are all in a lockdown for 21 days, TaxGuru Edu aims at making your quarantine – a quality time. Through the self-learning courses, we hope to […]...
Read MoreCA, CS, CMA - ICAI is expected to forgo more than 100 crore of receipt from Members and students in the form of highly subsidized certificate courses, availability of free CPE Hours, virtual courses/classes, scholarships etc. to stand together in the hour of crisis....
Read MoreGoods and Services Tax - Facility for registration of IRP/RPs made available on the GST Portal 1. Insolvency Resolution Professionals/ Resolution Professionals (IRPs/RPs), appointed to undertake corporate insolvency resolution proceedings for Corporate Debtors, in terms of Notification. No 11/2020-CT, dated 21st March, 2020 can apply for new registration on GST P...
Read MoreCA, CS, CMA - Empanelment with the O/o C&AG of India for the year 2020-2021 The status of provisional Empanelment along with the provisional score points with respect to the Chartered Accountant firms/LLPs firms who have applied for empanelment with O/o C&AG of India for the year 2020-21 will be available from May 28th, 2020 to June 04th, 2020 ...
Read MoreSarita Tyagi Vs ITO (ITAT Delhi) - The issue under consideration is whether the addition made by the A.O. for cash deposited into saving bank account by the assessee is justified in law?...
Read MoreLady Floreance Education Society Vs CIT (Exemptions) (ITAT Delhi) - The issue under consideration is that whether the CIT(Exemptions) is correct in rejecting the application seeking grant of registration u/s 12AA of the Act?...
Read MoreMahendra Kumar Indermal Vs Deputy Assistant Commissioner (ST) (Andhra Pradesh High Court) - Mahendra Kumar Indermal Vs Deputy Assistant Commissioner (Andhra Pradesh High Court) As per the provisions of Section 67(1) of the Act, power of inspection is specified to an officer not below the rank of joint commissioner. The said officer for the purpose of search as specified in Section 67(1) (a...
Read MoreAudhut Timblo Vs ACIT (Bombay to Goa High Court) - The issue under consideration is whether A.O. is correct in issuing Notice under section 147 for re-opening of assessment irrespective of the fact that the material on which he relied is already present in front of him at the time of assessment u/s 143(3)?...
Read MoreSouth Staffordshire PLC, Vs DCIT (International Taxation) (ITAT Delhi) - The form of appeal shall be verified by the person who is authorised to verify the return of income under section 140 of the act as applicable to the assessee. According to the provisions of section 140(c) of the act, the first proviso says that where company is not a resident in India, the return m...
Read MoreCircular No. 26/2020-Customs - (29/05/2020) - Board has decided to further extend the facility of accepting undertaking in lieu of bond for the period till 15.06.2020. Consequently, the date for submission of proper bond in lieu of which the undertaking is being temporarily accepted is extended till 30.06.2020. This relaxation will be reviewed ...
Read MoreNotification No. 10/2020-Customs (ADD) [G.S.R. 330(E).] - (29/05/2020) - Notification No. 10/2020-Customs (ADD)- Seeks to amend notification No. 27/2015-Customs (ADD) dated 1st June, 2015 to extend the levy of Anti-Dumping duty on acrylic fibres originating in or exported from Thailand for a further period of 6 months i.e. up to and inclusive of the 30th day of November,...
Read MoreNotification No. 48/2020-Customs Duty [S.O. 2315 (E).] - (29/05/2020) - Tariff Notification No. 48/2020-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 48/2020-CUST...
Read MoreRBI/2019-20/248 DGBA.GBD.No.1909/42.01.011/2019-20 - (29/05/2020) - Agency banks were advised that petty claims of penal interest involving an amount of ₹ 500/- (on per transaction basis) or below would be ignored and excluded from the purview of penal interest on delayed reporting of State Government transactions,...
Read More(Release ID: 1627434) - (28/05/2020) - FM formally launched the facility for instant allotment of PAN (on near to real time basis) here today. This facility is now available for those PAN applicants who possess a valid Aadhaar number and have a mobile number registered with Aadhaar. The allotment process is paperless and an electronic PA...
Read MoreWhat Taxes shall you pay for Financial Year 2019-2020 – A complete tax guide for income tax computation In India, every year, the Finance Minister announces an annual Un...
Read MoreYour spouse not only helps you in meeting your social and personal obligations but also helps you in saving income tax as well. There are certain tax benefits by way of which ...
Read MoreIn recent times, blogging has become one of the trending professions in the market. One of the major reasons behind it is income generating capacity of this profession. Blogge...
Read MoreWhat stand customer can take if Bank demand Form 15CA but service is not taxable? In such cases, the possible recourse is to submit a declaration in form of a note to Bank sta...
Read MoreThe amount donated towards charity attracts deduction under section 80G of the Income Tax Act. Section 80G has been in the law book since financial year 1967-68 and it seems i...
Read MoreArticle discusses about Meaning/ Structure/ Relevance of TAN, Persons liable to apply for TAN, Consequences of not quoting TAN, Procedure to obtain TAN, Places from where to o...
Read MoreIncome Tax Calculator for the Financial Year 2020-21 for Both Regimes in Excel for Salaried Individuals in India-Ver 20.01 This excel based simple and user friendly Income Tax...
Read MoreExcel Based Reminder for Tracking Insurance Policies, Subscriptions, Travel Documents, AMC, Investments Etc This Is An Excel Based Reminder For Keeping Track Of Your 1) Travel...
Read MoreGST Interest and Late Fee Auto Calculator for Extended Due Dates due to Covid 19 in Excel Format Due to Covid 19 pandemic in India, The Indian Government has extended the Due ...
Read MoreIn this Article we updates about the normal and Special Income tax rates applicable to different types of taxpayers for Financial Year 2019-20 and 2020-21 i.e. for assessment ...
Read MoreArticle discusses Income Tax Penalties for Failure to deduct TDS / TCS in full and part, Quoting false TAN in challan/ statements, Failure to apply for TAN, Failure to furnis...
Read MoreDifferent tax rates have been provided for various categories of taxpayers and for different sources of income. Individuals/HUFs/AOP/BOI are taxed as per the different slab ra...
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