Goods and Services Tax - GSTR-3B─Return notified subsequent to Judgment of Gujarat HC to nullify Judgment─No analysis of this crucial aspect by the Apex Court The Hon’ble Supreme court in the case of Union of India v. AAP And Company (2021) 36 J.K.Jain’s GST & VR 519, overruled the judgment dated 24.6.2019 of Hon’ble Gujarat HC : AAP and Co. [...
Read MoreCorporate Law - Constitutional Provision Article 21A has been introduced vide the Constitution (Eighty-Sixth Amendment) Act, 2002 which makes the right to education a fundamental right. This Article requires the State to provide free and compulsory education to all the children at the age of six to fourteen years, in such manner as State, may by law dete...
Read MoreCompany Law - Meaning Of Financial Year The Companies Act, 2013 defines Financial Year under Section 2(41) as: “Financial Year”, in relation to any company or body corporate, means the period ending on the 31st day of March every year, and where it has been incorporated on or after the 1st day of January of a year, the […]...
Read MoreFinance - On an average an Indian parent run through approx. rupees 1.50 lakh on a child’s education in india. The Indian ed tech industry is worth 2.8 billion. Byju’s is world’s 13th most valuable startup and world’s largest ed tech decacorn with its valuation standing around $21 billion. In preceding seven years it has acquired more [&hel...
Read MoreCA, CS, CMA, Company Law, Corporate Law - Private Limited Company registration is the most popular form of a ‘legal structure’ for all businesses in India. This type of company offers limited liability for its shareholders with certain restrictions placed on the ownership. An LLP has partners, who own and manage the business. Whereas in private limited company registr...
Read MoreCA, CS, CMA - The Institute of Company Secretaries of India 17th January, 2022 Dear Professional Colleague, Subject: New Recognition to Company Secretary under the SEBI (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2022 The Institute in furtherance of its continuous endeavours to provide new opportunities to its members has be...
Read MoreGoods and Services Tax - Join Self-Learning Certification Course on GST, GST Compliances, Excel For professionals, Income Tax and Customs including Import & Export by TaxGuru Edu at 40% till 26th January 2022...
Read MoreIncome Tax - Finance Act, 2021 has inserted specific section 89A in the Income-tax Act, 1961 to provide relief to NRI taxpayers who have an issue with respect to their accrued incomes in their foreign retirement accounts due to mismatch in taxation period....
Read MoreCA, CS, CMA - Registration for December, 2021 (November 2021 cycle) pass out candidates begins on 15th February’22 and will end on 21st February’. Candidates who passed out prior to December, 2021 (November 2021 cycle) but could not apply in regular campus due to certain reasons, specified below, are now eligible for February-March’22 campus and ...
Read MoreCA, CS, CMA - Following is the Exposure Draft of the ICAI Valuation Standard (ICAI VS) 304 Valuation of Assets in the Extractive Industries issued by the Valuation Standards Board of the Institute of Chartered Accountants of India, for comments....
Read MoreIn re Tiruppur City Municipal Corporation (GST AAAR Tamilnadu) - In re Tiruppur City Municipal Corporation (GST AAAR Tamilnadu) i. In respect of Q.No. 1, Sl. No. 5-B (Rent for locker provided in bus stand by the appellant) it is held to be an activity undertaken by the Municipality as a function entrusted under 243 W of the Constitution and the service of rent or...
Read MoreIn re Hylasco Bio-technology Private Limited (GST AAR Telangana) - In re Hylasco Bio-technology Private Limited (GST AAR Telangana) 1. Whether the product Rodent Feed can be classified under the HSN 2309 90 10 or not? Yes. But not covered under the exemption notification. 2. If No, HSN applicable for the specified product? Please refer above. 3. As HSN 2309 is exem...
Read MoreIn re INOX Air Products Pvt Ltd. (GST AAAR Tamilnadu) - In re INOX Air Products Pvt. Ltd. (GST AAAR Tamilnadu) The final issue to be seen is that whether the entire manufacturing plant is to be construed as a ‘Plant and machinery’. As discussed in para supra, the Act do not define the terms ‘Plant’, ‘Machinery’, though...
Read MoreIn re Erode City Municipal Corporation (GST AAAR Tamilnadu) - (Rent for locker provided in bus stand by the appellant) it is held to be an activity undertaken by the Municipality as a function entrusted under 243W of the Constitution and the service of rent or fee collection for such a facility is neither a Supply of Goods nor a supply of Service as per Notifi...
Read MoreSynfab Sales And Industries Ltd. Vs C.C.E & S.T.-Silvasa (CESTAT Ahmedabad) - Synfab Sales And Industries Ltd. Vs C.C.E & S.T. (CESTAT Ahmedabad) From the plain reading of the above rule 11(3) (i) (ii) it is clear that in terms of Clause (ii) of Rule 11(3) the balance credit shall lapse only if the assessee availed an exemption which is absolutely and exempted which is ot...
Read More(19/01/2022) - A. Whether re-import of goods for packaging purposes falling under HS codes of Chapters 72,73 and 86 of ITC (HS), 2017 is also covered under scope of SIMS? Whether SIMS Registration is required if the steel/steel item is exported from DTA to SEZ and then imported from SEZ to DTA when [I] the item is...
Read More(19/01/2022) - Shri Ajay Tyagi, Chairman, SEBI launched 'Saa₹thi' – SEBI’s Mobile App on Investor Education at a function held in Mumbai today. The SEBI Mobile App aims to create awareness among the investors about the basic concepts of Securities Market, KYC Process, trading and settlement, mutual funds, re...
Read More(21/10/2021) - Reserve Bank of India hereby directs the inclusion of 'Sikkim State Co-operative Bank Ltd.' in the Second Schedule to the Reserve Bank of India Act, 1934 as Scheduled Bank....
Read More(18/01/2022) - Person responsible for collection and payment of securities transaction tax in case of Insurance Company.- In the case of an insurance company, the person responsible for collection and payment of securities transaction tax in accordance with sub-sections (2), (3) and (4) of section 100 of the Act, ...
Read More(18/01/2022) - CBIC exempts BCD and IGST on goods imported for the purpose of AFC Women’s Asian Cup India, 2022 vide Notification No. 1/2022-Customs dated : 18th January, 2022 MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 18th January, 2022 Notification No. 1/2022-Customs G.S.R. 26(E).—In e...
Read MoreIt is common knowledge that the Income Tax on income of Rs.10 lacs in Individual status entails payment of Income Tax of Rs. 1,17,000/-. But, if you plan well, you need not pa...
Read MoreHOW TO SAVE MONEY WITHOUT INVESTMENT The income tax department have provided various deductions and exemptions to the taxpayers that can be subtracted from the taxable incom...
Read MoreA tax is a mandatory charge levied by the government on an individual’s or a business’s hard-earned income during any financial year. While paying taxes is certain and ine...
Read MoreWhenever a Budget is introduced in the Parliament, the middle income group primarily eye Section 80C of the Income Tax Act as it is the most popular and favourite section affe...
Read MoreNational Pension System (NPS) is still not very popular amongst individual assessees for the simple reason that people are not familiar with the advantages of NPS. It is one o...
Read MoreTime to Revisit Section 80DDB of Income Tax Act – Need to increase limit of expenditure incurred on treatment of all Diseases The Finance Minister would present Budg...
Read MoreSimple Income Tax Calculator for the Financial Year 2021-22 in Excel for Salaried Individuals. Tax Planning in the beginning of the Financial Year is always better instead of ...
Read MoreIncome Tax Calculation F.Y. 2021 -22 in Excel आयकर गणना प्रपत्र वित्तीय वर्ष 2021 – 22 Fully Automatic Excel Program ...
Read MoreThe Short-Term Financial Forecast Tool is a fully-automated Excel-based automated tool for short-term financial forecasting. It can be readily deployed by any business witho...
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 MoreBlock of Assets :-The expressions Assets and Blocks of Assets w.e.f. 1-4-1999 shall mean a group of assets falling within a class of assets comprising:–Tangible Assets being...
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