Latest Tax News & Updates

Ganesha please help stressful CA & Tax consultants.

CA, CS, CMA - Arjuna, CA's and tax consultant are one of the important pillars of Nation Building.The financial situation of the country would not improve ,if these nation builders land up in these stressful problems. It is prayed to Lord Ganesha to give wisdom to Govt. authorities, as just extension of 15 days when 5 days where remaining in like just...

Read More

Corporate Social Responsibility (CSR) as Per Companies Act, 2013

Company Law - Companies Act, 2013 has formulated Section 135, Companies (Corporate Social Responsibility) Rules, 2014 and Schedule VII which prescribes mandatory provisions for Companies to fulfil their CSR. This article aims to analyse these provisions (including all the amendments therein)....

Read More

GST: Don’t miss the last chance to rectify errors of FY 2017-18

Goods and Services Tax - GST Law has given us a chance to rectify any errors crept in GST returns filed for the financial year 2017-18 till date of filing of September 2018 return. This article focuses on most probable errors in the returns and way to correct them....

Read More

SS-4 on Board Report notified by ICSI

CA, CS, CMA - After issuing SS1, SS2 and SS3, today ICSI notified Secretarial Standard on Board Report effective from October 1, 2018. Currently it is voluntary for adoption by the Company...

Read More

Request for extension of filing timeline for audit U/s. 4 of RERA 2016

Corporate Law - We are presenting before your good selves the difficulties and hardship faced by the trade sector and consultants at large in the domain of RERA implementation. We herein seek your redressal mechanism to alleviate the concerns and seek a reasonable extension of due date for furnishing audit certificate....

Read More

Join 4 day Course on GST by M.S.M.E. with Certification

Goods and Services Tax - Registration is open for 4 day GST CERTIFIED PRACTITIONER course by Ministry of M.S.M.E. at Bangalore, Kolkata, Cochin, Pune, Jaipur, Trichy, Hyderabad, Mumbai, New Delhi, Chennai, Coimbatore, Goa, Ludhiana in September to November 2018 starting from 29th September 2018. WHAT THE GST CERTIFICATION COURSE AIMS AT? The Course aims to facili...

Read More

Join 4 day Certification Course on GST by MSME- Registration Open

Goods and Services Tax - Registration is open for 4 day GST CERTIFIED PRACTITIONER course by Ministry of M.S.M.E. at Bangalore, Kolkata, Cochin, Pune, Jaipur, Trichy, Hyderabad, Mumbai, New Delhi, Chennai, Coimbatore, Goa, Ludhiana in September to November 2018 starting from 29th September 2018. WHAT THE GST CERTIFICATION COURSE AIMS AT? The Course aims to faci...

Read More

Online GST Course for GST Practitioners and Others (Limited Seats)

Goods and Services Tax - Online GST Certification Course by TaxGuru and GST Professionals – Oct’ 2018 Batch (Registration Open) TaxGuru and GST Professionals announces its Oct’ 2018 batch and most comprehensive Online GST Certification Course after successfully completing its previous 6 batches with thousand of successful participants. The new batc...

Read More

Extend Tax Audit due date to 31 October 2018: BJP Economic Cell (Rajasthan)

Income Tax - BJP economic Cell (Rajasthan), State Co-Convener CA R P Vijay & CA Sachin Kumar Jain have requested Honble FM to extend due date for submission of Tax Audit Reports and Income Tax Returns from 30 September, 2018 to 31 October, 2018 in the case of corporate assesses and where tax audit is applicable so that […]...

Read More

Gang Issuing Bogus Bills and Bogus E-Way Bills Busted

Goods and Services Tax - In the last one month, the officers have identified gang of bogus dealers who are involved in bill trading. This arrest is the third in a series of actions in Karnataka. As per the preliminary information available, the tax involved in bill trading transactions is around Rs.253 Crore. In-depth investigation is in progress to initiate, app...

Read More

Service Tax not payable on Agency Commission Paid by RBI to Banks

Canara Bank Vs Commissioner of Central Excise & Service Tax (LTU) (CESTAT Bangalore) -  Canara Bank Vs Commissioner of Central Excise & Service Tax (LTU) (CESTAT Bangalore) FULL TEXT OF THE CESTAT JUDGMENT M/s. Canara Bank, the appellant, is a banking company and a body corporate, conducting their operations in India. It was alleged by the Department that the appellants were acting...

Read More

Negligence in filing Form-32 by CS constitutes Misconduct: AA

Sital Prasad Swain Vs Disciplinary Committee (Authority For Advance Ruling) -  Sital Prasad Swain Vs Disciplinary Committee (Appellate Authority) It is pained to note that none of the parties filed the original minute books or the resolution passed which are the subject matter relevant to the filing of two forms i.e. Form-32 filed for the appointment of Shri Bishender Singh as...

Read More

Education cess cannot be disallowed u/s 40(a)(ii)

Chambal Fertilisers And Chemicals Ltd Vs JCIT (Rajasthan High Court) -  Chambal Fertilisers And Chemicals Ltd Vs JCIT (Rajasthan High Court)  The assessee is of the considered opinion that the education cess and secondary & higher education cess (collectively called as education cess) are not a “tax” and hence not disallowable u/s 40(a)(ii) of the Act on th...

Read More

Section 54 Exemption allowed on House Property acquired Outside India for A.Y. 2014-15 and for earlier A.Ys.

Income Tax officer Vs Arshia Basith (ITAT Bangalore) -  ITO Vs Arshia Basith (ITAT Bangalore) we find that the assessment year in this appeal is 2014-15 and the provision in section 54F comes w.e.f. 01.04.2015 according to which it was clarified that the residential house is to be acquired only in India meaning thereby before this amendment it was not cl...

Read More

No 100% deduction on ‘substantial expansion’ for remaining 5 A.Ys U/s. 80IC in HP

Commissioner of income tax Vs M/s. Classic binding industries (Supreme Court of India) -  CIT Vs Classic Binding Industries (Supreme Court)  In the instant case, we are concerned with the assessees who had established their undertakings in the State of Himachal Pradesh. Sub-section (3), as noted above, mentions the period of 10 years commencing with the initial Assessment Year. Sub-sect...

Read More

CBDT extends Tax audit due date to 15th October 2018

F.No. 225/358/2018/ITA.II - (24/09/2018) -  CBDT extends due dt for filing of Income Tax Returns & audit reports from 30th Sept, 2018 to 15th Oct, 2018 for all assessees liable to file ITRs for AY 2018-19 by 30.09.2018, after considering representations  from stakeholders. Liability to pay interest u/s. 234A of IT Act will remain. F.No. ...

Read More

E-way bill not required for intra-city movement of goods in Gujarat

No. GSL/GST/RULE-138(14)/B.19 - E-way bill is not required for intra-city movement of goods in Gujarat. Further for intra-State movement of goods for Job Work e-way bill is not required for transportation of Hank, Yarn, Fabric and Garments. NOTIFICATION By the Commissioner of State Tax Gujarat State, Ahmedabad Dated the 19th Sept...

Read More

Companies (Appointment and Qualification of Directors) Sixth Amendment Rules, 2018

F. No. 01/22/2013 CL-V [Pt-III) - (20/09/2018) -  These rules may be called the Companies (Appointment and Qualification of Directors) Sixth Amendment Rules, 2018. They shall come into force from the date of their publication in the Official Gazette....

Read More

Companies (Indian Accounting Standards) Second Amendment Rules, 2018

F. No. 01/01/2009-L-V (Part VII) - (20/09/2018) -  (1) These rules may be called the Companies (Indian Accounting Standards) Second Amendment Rules, 2018. (2) They shall come into force on the date of their publication in the Official Gazette....

Read More

Online E-com module for SEIS to be available to exporters from 03.10.2018

Trade Notice No. 33/2018-DGFT - (18/09/2018) -  In view of changes in the rates of incentives mid year during the Mid Term review of the FTP, some minor modifications and further testing of the module is in process. The new online E corn online module of the SEIS will be available to the exporters from 03.10.2018. Therefore, the exporters/ member...

Read More

FAQs

Q.1  What are the opportunities available for Company Secretaries under Goods and Services Tax regime? Ans. Under Goods and Services Tax, a Company Secretary has the following opportunities: To act as a GST Practitioner Pursuant to Section 48 of CGST Act, 2017 read with Rule 83 of Central Goods and Services Tax Rules, 2017 (CGST [&hellip...
Read More
1. What is an ‘Anti-profiteering’ activity? The suppliers of goods and services should pass on the benefit of any reduction in the rate of GST on such supplies or the benefit of input tax credit to the recipient by way of commensurate reduction in prices. The wilful action of not passing of such above said […]...
Read More
ICAI has come out with revised publication titled FAQ's and MCQ's on GST. It provides a comprehensive coverage of GST in easy to understand question answer format written in lucid language....
Read More
A. FAQs > Filing Application for Rectification or Taking Action in the  Subsequent Proceedings u/s 161 Conducted by Tax Officer 1. How can Rectification of Orders be done? Rectification of order issued can be done on the basis of suo moto or upon receipt of application from taxpayer. 2. What is the time limit within […]...
Read More
FAQs > Filing Application for Withdrawal of Summary Assessment Order and Tracking the Status of the Subsequent Proceedings u/s 64 1. What is Summary Assessment u/s 64? Summary Assessment u/s 64 is framed by an Adjudicating or Assessing Authority (A/A) to assess the tax due from the person in charge of the goods if an […]...
Read More

Browse All Categories

CA, CS, CMA (3,831)
Company Law (4,013)
Custom Duty (7,035)
DGFT (3,744)
Excise Duty (4,154)
Fema / RBI (3,508)
Finance (3,716)
Income Tax (27,930)
SEBI (2,940)
Service Tax (3,395)

Income Tax Planning

Your spouse can be a vehicle for tax savings

Your spouse not only helps you in meeting your social and personal but also helps you in saving income tax as well. There are certain tax benefits by way of which you can enha...

Read More

Some Income tax provisions to know, to avoid service of I-T notice at your door

CPC for electronic tax returns in Bangalore and CPC (Vaishali in Ghaziabad) for tax deducted at source (TDS) are working as the right hands of Government for detecting cases o...

Read More

Tax Planning / Tax Saving Tips for Financial Year 2018-19

Tax Planning is most important part of Finance Planning for Tax Payers In India especially for Individual and Salaried tax Payers. In this Article we are discussing some Tax P...

Read More

Income Tax Deductions

Section 80C deduction come with restrictions, look before you leap

Section 80C of Income Tax Act, 1961 allows you deduction upto Rs. 1.50  lakhs in respect of certain items of investments and expenses.  These  deductions are subject to som...

Read More

Public Provident Fund (PPF) – Tax benefit and Returns

Eligibility - Individuals who are residents of India are eligible to open an account under the Public Provident Fund scheme. A PPF account may be opened under the name of a m...

Read More

Tax Deduction U/s. 80G for Donations towards Social Causes

Have you donated money for charity, social or philanthropic purposes, or, have made contributions towards a National Relief Fund? If yes, then you could use these donations to...

Read More

Calculators

Automatic GST Late Fees Calculator for Form GSTR 3B

Simple Automatic GST Late Fees Calculator in Excel Format for easy calculation of Late Fees Payable for late filing of Form GSTR 3B which calculates  late fees under both CGS...

Read More

Download House Rent Allowance (HRA) Calculator

This Calculator calculates House Rent Allowance which is exempt from tax U/s. 10(13) of The Income Tax Act, 1961. The calculator is in excel format and it calculates the allow...

Read More

Income Tax Computation Sheet for F.Y 2017-18 (A.Y 2018-19)

In order to file your income tax return you first need to collect all the information required to file it. The next important step is to compute your total taxable income. Aft...

Read More

Rate Charts

TDS – Rate Chart, Provisions, Penalty, Return Due Date

Tax Deducted at Source (TDS) is one of the modes of collecting income tax in India at the very source of income, governed under Indian Income Tax Act of 1961. ...

Read More

TDS & Tax Provisions for F.Y.2018-19

TDS & Tax Provisions for F.Y.2018-19 TDS stands for tax deducted at source. As per the Income Tax Act, any company or person making a payment is required to deduct tax at ...

Read More

Updated Penalty Chart under Income Tax Act, 1961

Article 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 More

Search Posts by Date

September 2018
M T W T F S S
« Aug    
 12
3456789
10111213141516
17181920212223
24252627282930