TaxGuru Newsletter Subscription
Information You Can Rely On.
Corporate Law - Prime Minister Narendra Modi started the Startup India Campaign in 2016 to boost entrepreneurship in India. The action plan aimed at financing for startups, simplifying the incorporation of startup process and grant of various tax exemptions and other benefits to startups. In line with this initiative, the government launched a policy f...
Read MoreGoods and Services Tax - 1. Meaning of ‘Education’ under GST Law, 2017: In GST the term ‘Education’ has not been defined, However, the Hon’ble Apex Court decision in ‘Loka Shikshana Trust vs. CTT defines ‘Education’ as a process of training and developing knowledge, skill and character of students by normal schooling. U...
Read MoreIncome Tax - Section 148 stands for reassessment or income escaping assessment. Nowadays income tax department is scrutinizing more returns under Section 148 of the Income Tax Act. So we are here to discuss about section 148 of the Income Tax Act, 1961. Article explains Time limit for issuance of notice u/s 148, Issuance of show cause notice […...
Read MoreCA, CS, CMA - Article explains Applicability of Audit under GST, Requirement of GST Audit, Furnishing of Documents under GST Audit, Types of GST Audit, Calculation of Turnover for F.Y. 17-18, Calculation of Aggregate Turnover under GST , Tenure of Retention of Accounts under GST , Auditor Qualification for GST Audit, Audit in case of multiple Branches,...
Read MoreIncome Tax - Article explains Background of Section 80JJAA, Conditions to be fulfilled for claiming deduction under Section 80JJAA, Amount of Deduction under Section 80JJAA and Illustration on deduction under Section 80JJAA. Before I delve into my topic of discussion, lets have a little background of Section 80JJAA of the Income Tax Act 1961. Backgrou...
Read MoreGoods and Services Tax - Indirect Taxes Consultants Association has written to Hon'ble Prime Minister of India and complained against the alleged High Handedness of the CGST Authorities against the Chartered Accountant in Ludhiana....
Read MoreIncome Tax - Punjab Accountants Association hs requested Honourable Union Finance Minister, Ms. Nirmala Sitharaman to revise Income-tax Slab for the Financial Year 2020-21, Increase Cash transaction in a day to atleast Rs. 20,000 and to increase section 80C deduction limit to Rs. 2,00,000....
Read MoreIncome Tax - The inequality crisis remains unaddressed and out of control. Hundreds of millions of people are living in extreme poverty while large rewards go to those at the very top. In 2019, the world’s billionaires, only 2,153 people, had more wealth than the poorest 4.6 billion people combined, according to Oxfam. A new generation of inequali...
Read MoreFinance - The Halwa ceremony, marking the commencement of Budget printing process for Union General Budget 2020-21, was held here in North Block today morning in the presence of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman....
Read MoreCA, CS, CMA - Declaration of Result of CS Foundation Programme Examination December, 2019 The Result of CS Foundation Programme examination held on 28th and 29th December, 2019 would be declared on Saturday, the 25th January, 2020 at 11:00 A.M. The result along with individual candidate’s subject-wise break-up of marks will be available on the Instit...
Read MoreMadhuri Doulatram Choitram Vs Lachmandas Tulsiram Nayar (HUF) (Bombay High Court) - Madhuri Doulatram Choitram Vs Lachmandas Tulsiram Nayar (HUF) (Bombay High Court) It is one thing to say that a member of the family other than, or in the absence of, a Karta, may be permitted to prosecute the suit on account of special circumstances of a given case. And a completely different thing...
Read MoreM/s. LGW Industries Limited & ors. Vs. Union of India & ors. (Calcutta High Court) - On the second issue in the petition, it was stated that in the absence of any finding about petitioners mala fide intention, connivance or wrongful association with the suppliers, no liability can be imposed on it on the principle of vicarious liability on account of fraudulent conduct of the suppli...
Read MoreNirmal Seeds Private Limited Vs The Commissioner of Central Excise (Bombay High Court) - It is the case of the Revenue that the appellant is reimbursing the freight amount to their consignees to the extent freight is paid by the consignee. Besides, it was also found that the appellant was also issuing credit notes for reimbursement of freight charges. Thus, the case of the Revenue is th...
Read MoreCalcutta Canvas Co. Vs. Union of India (Madras High Court) - Writ Petition is disposed of, only by granting such liberty to the petitioner to approach the said Nodal Officer and make a representation within a period of two weeks from the date of receipt of a copy of this order. On receipt of such representation/request, the said Nodal Officer shall consider t...
Read MoreIn re Parker Hannifin India Pvt Ltd, (GST AAAR Karnataka) - Filters manufactured by the Appellant solely and principally for use by the Indian Railways and supplied directly to the Indian Railways are classifiable under Chapter Heading 84.21 of the Customs Tariff. The classification of the subject goods will not change if the same are supplied to a distribut...
Read MoreNo. IBBI/VL/028/2020 - (20/01/2020) - Deposit of unclaimed dividends and / or undistributed proceeds of voluntary liquidation process in accordance with regulation 39 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017....
Read MorePress Release No. 75/2020-PUB - (17/01/2020) - The Government of Himachal Pradesh has approved the Himachal Pradesh (Legacy Cases Resolution) Scheme under the Department of Excise and Taxation in the Cabinet Meeting held on 16.01.2020. The Scheme will address settlement of legacy cases under General Sales Tax, VAT, CST and other taxation laws su...
Read MoreF.No. 587/CE/167/Pol/2019/11219-11269 - (13/01/2020) - All the CGST Zones are required to make a list, GSTN-wise of fake credit availers and block their ITC under Rule 86A(1)(a) for the entities located in their jurisdiction. If, however, there are certain entities which are located outside their jurisdiction, they should forward a list of such availers...
Read MoreTrade Notice No. 46/2019-20-DGFT - (17/01/2020) - It is advised that All importers should file their Bills of Entry with specific codes available for the imported items under ITC(HS), 2017, Schedule — I (Import Policy) at 8 digit level, and to avoid as far as possible 'Others' category....
Read MoreCircular No. SEBI/HO/DDHS/DDHS/CIR/P/2020/10 - (17/01/2020) - Regulation 2(1)(zw) of Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 (InvIT Regulations), defines a rights issue as an offer of units by a listed InvIT to the unitholders of the InvIT as on the record date fixed for the said purpose. This circular detail...
Read MoreAuthor discusses 7 Avenues to Save Tax in F.Y. 2019-20 which includes Deduction under Section 80C on Specified Investments or Expenses, Deduction for Contribution to the Natio...
Read MoreIt really hurts to see a large pie of the salary cut towards tax. So the obvious question in everyones mind is How do I reduce my tax?. Every year we are forced to invest in s...
Read MoreThis Article explains how to save tax in a private limited company. It explains various legally permissible ways in which you end up saving a lot of income tax. Company is a...
Read MoreArticle explains Background of Section 80JJAA, Conditions to be fulfilled for claiming deduction under Section 80JJAA, Amount of Deduction under Section 80JJAA and Illustratio...
Read MoreAs we all are aware that The Union Budget for 2020-21 will be presented in the Lok Sabha on 1st February, 2020) at 11.00 am by our Finance Minister Nirmala Sitharman. As per e...
Read MoreAuthor discusses 7 Avenues to Save Tax in F.Y. 2019-20 which includes Deduction under Section 80C on Specified Investments or Expenses, Deduction for Contribution to the Natio...
Read MoreThe file contains GSTR 3B Computation in MS Excel with following functionality: 1. Optimum utilization of Input tax credit is automatically calculated. (Section 49A read with ...
Read MorePlease find attached herewith an Excel Utility to check the Interest u/s. 234A, 234B and 234C of Income Tax Act, 1961. It's a utility in which you need to enter very few de...
Read MoreBulk Data Income Tax Calculator for Multiple Employees for Financial Year 2019-20 / Assessment Year 2020-21 and Bulk TDS Calculation (Salary) in Excel I have already uploaded ...
Read MoreIncome tax slab rates are decided and governed by Income Tax Act 1961 and are subject to change every year. Here are the income tax slab rates for the Financial Year 2019-20 (...
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...
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...
Read More