CA, CS, CMA - The Modi Government is coming up with the various new changes in the GST Regime including the New GST Returns and the concept of E-Invoicing. Both the E-invoicing and the new GST returns have direct linked with each other. Successful of both depend on each other how they perform after there final roll out in […]...
Read MoreGoods and Services Tax - GST was Introduced as a Good and Simple Tax but for whom??? It was expected to be Good and Simple for the public at large but now it has become Good source of Revenue by way of late fees, interest and penalty for the Government. Today’s hot topic for every professional is interest on GST […]...
Read MoreIncome Tax - Finance Bill, 2020 has been presented on 1st Feb, 2020 in the Parliament. Provisions of Finance Bill, 2020 relating to direct tax seek to amend the Income-Tax Act, 1961. The various proposals for amendments are placed before parliament. Let’s have a look what is there as income tax aspects for every person. Analysis of Budget 2020 1. ...
Read MoreGoods and Services Tax - WHETHER GST, VAT, TDS, TCS ETC WHICH ARE COLLECTED ON BEHALF OF THE GOVERNMENTS ARE OPERATIONAL CREDITORS UNDER IBC NATURE OF GST AND DUTY OF TAXABLE PERSON Article 366 Article 366 of the Constitutional Amendment Bill refers to Goods and Service tax as any tax on supply of goods or services or both except taxes […]...
Read MoreFinance - These are some of the examples of subvention schemes offered by developers of real estate with tie-ups with banks and financial institutions. The discounts, freebies are extensively promoted by the builders to lure prospective homebuyers who obviously find these schemes irresistible....
Read MoreGoods and Services Tax - Central Board of Indirect Taxes and Customs has now started capturing district-wise data or origin of export goods. The idea was also recently echoed by the Hon’ble Finance Minister in her Budget speech. This additional information from the export declarations will provide a key statistical input to policy makers on the importance of ea...
Read MoreGoods and Services Tax - The GSTN website, very frequently stops working for hours together more particularly during last days of filing returns. The problem is more frequent and serious in remote, mofussil places. Frequent technical glitches in the GST portal are causing severe inconvenience, frustration and hardship to the taxpayers and tax professionals in com...
Read MoreGoods and Services Tax - Now-a-days, all the practitioners are tied up with so many tax compliances in every month and hence they are not able to allocate major time on learning new things. Hence we TaxGuru Edu, an educational wing of Taxguru now bring you the Crash Courses on GST and Income Tax. The motive will be to give maximum coverage in optimum time utilisa...
Read MoreGoods and Services Tax - About 91% of eligible large Taxpayers filed Annual GST Return and 92% eligible large taxpayers filed the Reconciliation Statement (GSTR-9C) by 12th Feb 2020 – 91.3% of eligible large taxpayers filed annual return (GSTR-9) by 12th Feb 2020. – 92.3% filed reconciliation statement (GSTR-9C) by 12th Feb 2020. -Total 42.03 Lakhs ...
Read MoreCA, CS, CMA - For the purposes of Empanelment in the C&AG Panel prepared by office of C&AG and Bank Branch Auditors’ Panel prepared by ICAI (for which Constitution Certificates as on 1st January, 2020 are issued every year), no condonation of delay in submission of Form 18 beyond 29th Feb., 2020 for the preceding the financial year under audit will b...
Read MoreCarestream Health Inc. Vs DCIT (ITAT Mumbai) - Mumbai ITAT Ruling: Whether reduction in share capital amounts to a transfer and thereby gives rise to capital gains, if consideration is paid for such reduction?...
Read MoreKhem Chand Mukim Vs Pr. Director of Income Tax (Delhi High Court) - Seized stock-in-trade under Section 132 within the custody of the Income Tax authority must be released within 120 days. Since the action of Officer to seize jewellery without pre-existing and pre-recorded good reasons to believe was found to be grossly arbitrary, and the entire action was vitiated,...
Read MoreAditya Gupta Vs. Union of India (Rajasthan High Court, Jaipur Bench) - Aditya Gupta Vs. Union of India (Rajasthan High Court, Jaipur Bench) Petitioner has filed this petition under Section 439 Code of Criminal Procedure, 1973 seeking regular bail in File No. DGGI/JZU/INU/GST/02/18-19 filed by the Directorate General of GST Intelligence, Jaipur Zonal Unit for offences u...
Read MoreQuick Heal Technologies Limited Vs Commissioner of Service Tax (CESTAT Delhi) - Quick Heal Antivirus software was held to be 'goods‘, but whether the transaction would be sale or service, would depend upon the terms of the agreement. Thus, the transaction in the present Appeal resulted in the right to use the software and would amount to 'deemed sale‘ not liable to service ...
Read MoreParidhi Jain Vs State (Rajasthan High Court) - Paridhi Jain Vs State (Rajasthan High Court) HC held that Having regard to the facts and circumstances of the case and upon a consideration of the arguments advanced and the fact that the petitioner being a practising Chartered Accountant and a lady of 27 years is facing incarceration for last more ...
Read MoreGeneral Circular No. 04/2020 - (17/02/2020) - Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed under Insolvency Bankruptcy Code, 2016 (IBC, 2016)....
Read MoreS.O. 459(E) - (30/01/2020) - Central Government exempts all the Government organisations from the operation of all the provisions of Foreign Contribution (Regulation) Act, 2010 with effect from 30th January, 2020 if such organisations are under compulsorily audited by the Comptroller and Auditor General of India (CAG). MINISTRY...
Read MorePress Release: 2019-2020/1945-RBI - (13/02/2020) - What is the maximum amount that a single market participant can bid in LTROs? A market participant can place bids of amount less than or equal to the notified amount. RBI may reject all the bids of the participant if the total bid amount submitted by the participant exceeds the notified amount....
Read MoreNotification No. 14/2020-Customs (N.T.) [G.S.R. 121(E)] - (14/02/2020) - These regulations may be called Sea Cargo Manifest and Transhipment (Amendment) Regulations, 2020. They shall come into force on the date of their publication in the Official Gazette....
Read MoreNotification No. 14/2020-Customs [G.S.R. 120(E)] - (14/02/2020) - Notification No. 14/2020 – Customs regarding exemption of duties of Customs against scrips issued under the 2% Additional ad hoc incentive for mobile phones. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 14/2020-Customs New Delhi, the 14th February, 2020 G.S....
Read MoreTax Planning Tips for Pensioners and senior citizens for Assessment Year 2021-2022 If you want to get pension from April 2020, you have to give an anticipatory statement in Tr...
Read MoreLeave Travel Allowance (LTA) is the most common element of compensation adopted by employers to remunerate employees due to the tax benefits attached to it. Section 10(5) o...
Read MoreInvestment Declaration’s Dribs & Drabs in tax planning (Proof submission for Income Tax Purposes (Correct TDS on Salary Calculation) by Salaried Employee to His Empl...
Read MoreExtending time limit for approval of affordable housing project for availing deduction under section 80-IBA of the Act extended to 31st March, 2021. The existing provisions of...
Read MoreBudget 2020: Extending time limit for sanctioning of loan for affordable housing for availing deduction under section 80EEA of the Act to 31st March, 2021. The existing provis...
Read MoreSimple And Latest Version of Deductions In Respect of Certain Incomes (80IA To 80IE) The Deductions in respect of section 80IA to 80 IE is quite confusing. Therefore those sec...
Read MoreDownload Income Tax Calculator for Financial Year 2020-21 in Excel Format / Download Income Tax Calculator for Assessment Year 2021-22 in Excel Format/ Download Income Tax Cal...
Read MoreThis is an Excel Utility with the help of which one can make simple calculations regarding comparative study of Income Tax as per old regime and income tax as per new regime l...
Read MoreIncome Tax Calculator AY 2021-22 (for Comparison under Present/Existing Tax Regime and Proposed New Tax Regime)- Union Budget 2020-21 In Finance Budget 2020, Government has co...
Read MoreTax Rates 1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person Assessment Year...
Read MoreTDS Rate Chart For Financial year 2019-20 and Financial year 2020-21 Finance Minister has presented Union Finance Budget on 01st February 2020. Vide the Budget FM has made var...
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 (...
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