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Goods and Services Tax - Arjun (Fictional Character): Krishna, tax departments have gifted taxpayers with their Dussehera gift, in form of date extension, what are the new due dates for GSTR-9 & 9C? Krishna(Fictional Character): Arjuna, around 53 GST and trade associations had submitted representations as well as filed a writ petition for extension of due dat...
Read MoreCorporate Law - The Hon’ble HC, Rajasthan in the matter of Ravindra Singh Chaudhary vs. Union of India [D. B. Civil Writ Petition No. 20779/2019 dated October 16, 2020] held that Dream11’s online fantasy sports games are not betting/gambling. Facts: Ravindra Singh Chaudhary (“the Petitioner”) filed a Public Interest Litigation alleging that Dream...
Read MoreCA, CS, CMA - COVID 19 Pandemic has changed our Life, Lifestyle, thoughts, behaviour and work life balance beyond our imagination. Nobody has imagined that the present Pandemic will occur at any point of time suddenly. No one was prepared for the same. This Article deals with existing circumstances, problems, benefits and disadvantages with respect to ...
Read MoreIncome Tax - Like most other laws tax law is also an ever evolving subject. Tax laws, every now and then result into difference of opinion between the revenue authorities and tax payers on various issues. Indian Income-tax law has many such issues one of which is benefit of Additional Depreciation....
Read MoreIncome Tax - Section 44AD versus Section 44AB: What to choose ? As per recent amendments in Finance Act, 2020 where one of major amendment was made in Section 44AB by inserting a proviso to clause (a), which reads as follows:- Audit of accounts of certain persons carrying on business or profession. 44AB. Every person,— (a) carrying on […]...
Read MoreCustom Duty, Income Tax - Join Professional Development & Certification Courses on Customs & FTP and Income Tax by TaxGuru Edu – November, 2020 Batches. TaxGuru Edu, an educational wing of TaxGuru, announces Online Professional Development Courses on Customs & FTP and Income Tax to help you in learning them in a practical way. Course 1 – Profes...
Read MoreIncome Tax - Extension of Due Date for Tax Audit and Furnishing of Income Tax Returns for FY 2019-2020 welcomed by many organisations The Central Board of Direct Taxes has extended due dates of filing income tax returns till January 31, 2021 for taxpayers who have to get their accounts audited and those that are required to furnish […]...
Read MoreCA, CS, CMA - State Bank of India, Local Head Office, Delhi invites applications for empanelment of Stock & Receivable Auditors. Eligibility criteria, general guidelines, Bio-data format/application form etc is placed on our Bank’s website www.sbi.co.in in Empanelment of Vendors under Procurement news section....
Read MoreGoods and Services Tax - The facility to file GSTR 3B and GSTR-1 with the EVC in lieu of DSC extended to the registered person, who are also registered under the Companies Act, 2013, shall be withdrawn w.e.f. 1st Nov. 2020. However, facility to file NIL returns through OTP verification, shall be continued for all types of registered persons in view of notificatio...
Read MoreCompany Law - We strongly believe that mandatory Joint Audit for large Companies is essential to improve Independence & audit quality in this challenging macro-economic environment....
Read MoreACIT Vs Jethanand Thakur Bakshani (ITAT Chennai) - The issue under consideration is whether the advance received towards sale of property falls within the meaning of commercial and business purpose and can be treated as deemed dividend without considering the true nature of the transaction?...
Read MoreTTK Healthcare TPA Private Limited Vs DCIT-TDS (Karnataka High Court) - The issue under consideration is whether a TPA, was required to deduct tax at source on payments made to hospitals under Section 194J of the Act?...
Read MoreIlesh Amrutlal Gadhia Vs DCIT (ITAT Mumbai) - The issue under consideration is whether the disallowance u/s 69C of entire purchase amount by considering it as bogus is justified in law?...
Read MoreRazia Abu Khatri V. ITO (ITAT Delhi) - The issue under consideration is whether AO is correct in invoking section 50C where no reference to valuation officer despite being request made by assessee?...
Read MoreGalax E Solutions India Pvt. Ltd. Vs ITO (ITAT Bangalore) - Galax E Solutions India Pvt. Ltd. Vs ITO (ITAT Bangalore) The revenue is assailing the decision of Ld DRP in holding that the gain/loss arising on account of fluctuation in foreign exchange is operating income/expenses. We notice that the Ld DRP has followed the decision rendered by the Tribunal in ...
Read MoreF. No. 2/12/2020-BOA.I - (23/10/2020) - Central Government has approved Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020). Benefits under the scheme would be routed through lending institutions....
Read MoreNotification No. DMU/2020/CR. 92/DisM-1 - (23/10/2020) - In the entire State, Gymnasiums outside the containment zones will be allowed to function from 25th October, 2020. The SOP for the same will be issued by the Public Health Department. The Public Health Department will take into consideration the SOP issued by the Ministry of Health and Family Welfar...
Read MoreRelease ID: 1667281 - (24/10/2020) - The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (i.e. before the extension by the said notification) as per the Act is 31st October, 2020] has been extended to 31st January, 2021....
Read MoreNA - (24/10/2020) - it has been decided to extend the due date for filing Annual Return (FORM GSTR-9/GSTR-9A) and Reconciliation Statement (FORM GSTR-9C) for Financial Year 2018-19 from 31st October 2020 to 31st December, 2020....
Read MoreNotification No. G.S.R. 650 (E) - (20/10/2020) - (1) These rules may be called the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Rules, 2020. (2) They shall come into force on the date of their publication in the official Gazette....
Read MoreAll about different terms under Income Tax Act, 1961 Tax Planning, Tax Evasion, Tax Avoidance & Tax Management Very Simple analysis of different terms under Income Tax Act...
Read MoreMost of us are not aware about the tax saving scheme people are not aware what all options are available where investment can be done. This article will let you know the optio...
Read MoreInvest In Gold Is Still A Good Investment? We are observing since month of August, 2020 that price of Gold has increase tremendous. During August 2020 it reach to Rs. 52,000. ...
Read MoreIf you are a salaried person, you have a right to claim the benefits of an exemptions available on your few parts of the salary components given either in the form of ‘A...
Read MoreMany individuals who are receiving income under the head salary ask about the methods which can legally help in saving tax on salaried people. It is a fact that are not allowe...
Read MoreGOOD NEWS FOR ASSESSEE WHO HAD OR PLANNING TO PURCHASE ELECTRIC VEHICLE ON LOAN To encourage the purchase of ‘electric vehicle’, Govt of India had come with new in...
Read MorePerpetual Depreciation Calculator with Fixed Asset Register. – Automated Fixed Schedule Preparation – Depreciation for entire useful life of assets –...
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 MoreAuditors Tool on Depreciation as per Companies Act 2013- Version 2.3 updated upto FY 2019-20 (Released on 08.06.2020) WHAT IS NEW- in this updated Version 2.3 1. Consolidated ...
Read MoreDue to Covid-19, CBDT has reduced the TDS/TCS rate by 25% through press release dated 13/05/2020. However, No official notification is being released by CBDT till now for redu...
Read MoreSimple TDS Rate Chart for Financial Year 2020-21 – Applicable from 14th May 2020 Kindly Note amended rates are been given on the basis of PIB Notification dated 13.05....
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 ...
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