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Goods and Services Tax - I have received queries relating to services provided to Agricultural Sector, whether GST is applicable or exempted from our professional friends. So, I am trying to give clarification through this article ““Treatment of services relating to Agricultural Sector under GST” at my best of knowledge. Here we come to know about some impo...
Read MoreCorporate Law, Income Tax - It is common knowledge that litigants often wish to change their advocate for various reasons but sometimes the outgoing advocate does not hand over the litigation files to the client on the pretext of outstanding professional dues on the belief that advocate has a lien on the litigation files for his fees. In this context, […]...
Read MoreCA, CS, CMA - Multi-disciplinary Partnership Firm of Chartered Accountants in Practice means the firm which has been approved to practice in its name by the Council of ICAI under Regulation 53B read with Regulation 190 of the Chartered Accountants Regulations, 1988 hereafter referred to as MDP. The Institute of Chartered Accountants of India has issued...
Read MoreIncome Tax - Time period for issuance of notice under section 148 under new regime wef 1.4.2021. As per substituted section 149 wef 1.4.2021 As per substituted section 149, no notice shall be issued for the relevant assessment year if: (a) 3 years have elapsed from the end of the relevant assessment year, unless the case falls under […]...
Read MoreGoods and Services Tax - It is a well settled law that renting of commercial properties is subject to GST, provided the basic exemption limit is exceeded for registration. However, the subject matter prone to litigation is the recovery of other charges made by the landlord in addition to rent, viz. reimbursement of electricity charges, water charges, gas charges ...
Read MoreFinance - PIB Fact Check has cautioned public that below WhatsApp forward claiming that Ministry of Finance is providing emergency cash where recipients will receive Rs 1,30,000 per month for 6 months is FAKE! ♦ Don’t believe this message ♦ Don’t forward such links ♦ Never disclose personal information on such websites....
Read MoreGoods and Services Tax - Join Self-Learning Certification Course on GST, Income Tax and Customs including Import & Export by TaxGuru Edu at 40% Discount till 31st July 2021....
Read MoreIncome Tax - Income Tax Department carried out a search operation on 28.07.2021 on a prominent group in Jharkhand dealing in building construction and real estate. The search began on 28.07.2021 in Ranchi and Kolkata. More than 20 premises were covered. During the search, it was found that the group was not maintaining regular books of account. In vi...
Read MoreCorporate Law - Based on the previous experiences, we wish to submit that implementation of e-commerce rules must not be delayed or diverted for some other mechanism to step in as implementation of the rules at this stage is very crucial because more than one latch small shops have been closed due to mal-practices being religiously conducted by these c...
Read MoreCA, CS, CMA - ICAI endorses & supports Cabinet Decisions to approve the 30 amendments to LLP Act 2008 through the LLP (Amendment) Bill 2021 which will provide more traction & pace to ease of doing business policy. Cabinet approves the LLP (Amendment) Bill, 2021 for carrying out 30 amendments to the LLP Act, 2008. Cabinet approves de-criminaliza...
Read MoreAich Brothers Vs Union of India (Gauhati High Court) - Aich Brothers Vs Union of India (Gauhati High Court) The Hon’ble Gauhati High Court in the case of M/s. Aich Brothers v. the Union of India [WP(C)/3222/2021, dated July 13, 2021] directed the assessee to approach the Revenue Department with an application to pay the outstanding dues against the in...
Read MoreIn re Nagpur Waste Water Management Pvt. Ltd. (GST AAR Maharashtra) - In re Nagpur Waste Water Management Pvt. Ltd. (GST AAR Maharashtra) It is observed that the applicant has processed the sewage water which contains various kinds of organic and inorganic impurities like sand. Silt, clay, chemicals, organisms, etc. The sewage water Cannot be used, in any way, in its ...
Read MoreMukesh Kumar Jaiswal Vs Commissioner (Appeals) (CESTAT Delhi) - Mukesh Kumar Jaiswal Vs Commissioner (Appeals) (CESTAT Delhi) carting Challan in this case is only for internal control of forest department. Such carting Challan is not equivalent to a consignment note which is issued by the transporter. The consignment note is a negotiable instrument and the tra...
Read MoreRenu Proptech Pvt Ltd. Vs ACIT (ITAT Delhi) - Renu Proptech Pvt Ltd. Vs ACIT (ITAT Delhi) Considering the plethora of documentary evidences, we find that not only the assessee has established the source of the creditor, but it has also furnished documentary evidences to show the’ source of source’. We find that the AO, while making addition...
Read MoreMohammad Ahmad Khan Vs State Of U.P. & Another (Allahabad high court) - Mohammad Ahmad Khan Vs State of U.P. & Another (Allahabad high court) Heard Sri Sushil Kumar Singh, learned counsel for applicant, Sri A.Z.Khan, learned counsel for opposite party no.2 and Sri Yatindra Kumar Agnihotri, learned Additional Government Advocate for State. The instant application has...
Read More(29/07/2021) - Reserve Bank of India RBI/2021-22/74 DOR.FIN.REC.No.34/03.10.136/2021-22 Dated: July 29, 2021 All deposit taking Housing Finance Companies (HFCs) Madam/ Dear Sir, Rating of Deposits of HFCs – Approved Credit Rating Agencies and Minimum Investment Grade Credit Rating A reference is invited to Para ...
Read More(29/07/2021) - CBDT has vide Notification No. 83/2021-Income Tax | Dated: 29th July, 2021 inserted rule 130 and Omitted various Income Tax rules and Forms. It further inserted Rule 131 which related to Electronic furnishing of Income tax Forms, Returns, Statements, Reports, orders MINISTRY OF FINANCE (Department...
Read More(29/07/2021) - A functionality to check status of bank account details update for the taxpayers who have taken new registration at GST Portal but have not yet furnished the same, has been introduced, in view of Rule 10A of the CGST Rules 2017. Such taxpayers are required to update their Bank Account Details within...
Read More(28/07/2021) - The Disciplinary Committee of an Insolvency Professional Agency (IPA) may impose monetary penalty on its professional members under Clause 24(2)(d) of the Schedule to the IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016....
Read More(28/07/2021) - Office Order No. 186 of 2021 The following additional charge arrangements in the grade of PCIT/PDIT are ordered with immediate effect as mentioned against their names and until further orders:...
Read MoreTax is a mandatory fee levied by the Government on an individual or entity to collect revenue for public work and we all are aware of the importance of tax for the development...
Read MoreEverybody wants to reduce Income Tax liability but most of them do not know how to reduce Income Tax liability legally. Some know partially. As a result of which, they pay mor...
Read MoreTax Planning may be described as legal way of reducing of tax liability in a year by investing in different schemes as prescribed by income tax Act. It may also include enteri...
Read MoreThe deduction available under Section 80JJAA of the Income Tax Act, 1961 (‘Act’) incentivize the organizations for generating employment and allows an additional 30% deduc...
Read MoreSurana Mutha Bhasali Developers Vs ACIT (ITAT Pune) The doctrine of approbate and reprobate does not allow the Department to blow hot and cold in the same breath, thereby acce...
Read MorePurchase of Electric Vehicle – Tax benefits (Section 80EEB) and many more advantages!! Planning to buy a car in the future? How about an Electric car or E-scooter, they are ...
Read MoreAn Auditor’s Tool on Depreciation Calculation- Version 3.0 – Compliant to Schedule II of Companies Act 2013 : Financial Year 2015-16 to FY 2021-22 enabled –...
Read MoreThis is an Excel based TDS Calculator for the FY 2021-22 and onwards. We can use this Excel Utility for Calculating TDS Amount, for Remitting TDS Amount to Govt and for e-fili...
Read MoreOn March 31, 2021, the Ministry of Finance released a notification on slashing the interest rates of all the Small Saving Schemes, and the same notification rolled back by the...
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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