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Goods and Services Tax - Introduction: In this article, we will know, how in absence of 9C, unidentified key areas in GST consulting can be opened in the form of GST Value Added Services and GST Review. As 9C is set to become history, how one can open new doors of consulting and revenue generation in GST. “If opportunity doesn’t […]...
Read MoreFema / RBI - Generally foreign Companies enter the Indian market and start a business by incorporating the subsidiary Company or establishing a project/liaison office. In addition to this, another mode of starting a business is establishment of Branch Office (BO). The Branch Office is one of the suitable business mode for foreign Companies to enter th...
Read MoreIncome Tax - The ever debatable ‘Disallowance under section 14A’ (read with Rule 8D (2) now has again found a different horizon wherein the disallowance is not attracted (partially). The below mentioned case depicts a situation where interest free funds obtained by the assessee, a real estate developer, far exceeds the investments made by ...
Read MoreGoods and Services Tax - E-Way Bill system is successfully integrated with FasTag and RFID, and details of commercial vehicle movements through the state and national highway tolls are received into e-Waybill system on a near real time basis. On an average 25 Lakh goods vehicle movements from more than 800 tolls are reported on a daily basis to the […]...
Read MoreCompany Law - 1. Alteration is much wider term than Reduction, since Alteration may be increase or decrease or cancellation in share capital, but Reduction is a much restricted phenomena wherein the only consequence that needs to be achieved here is overall decrease in Share Capital. 2. As per Section 61 of Companies Act of 2013, there are […]...
Read MoreCorporate Law - We regret to note content of above letter (COPY ATTACHED), not allowing staff of Banks (Nationalized/coop./Pvt) , stock brokers, other essentials service providers , to commute by local Trains in Mumbai., in Lockdown II....
Read MoreGoods and Services Tax - This is the fourth year since the introduction of GST in July, 2017. Despite a sizeable liquidation of appeals under the Sabka Vishwas (Legacy Dispute Resolution) (SVLDR) Scheme, we still find more than 40,000 appeals of Central Excise and Service Tax pending at CESTAT and inflow of such appeals at the Honble Tribunal has not much dwindle...
Read MoreCorporate Law - Confederation of All India Traders has written a letter to Shri Piyush Goyal and demanded for Issuance of a new Press Note on FDI Policy and release of an e-commerce policy on behalf of 80 million traders and alleged that due to failure of DPIIT India to issue a press note foreign eCommerce giants are […]...
Read MoreCA, CS, CMA - The Professional Development Committee of the ICAI would like to inform that Office of the C&AG is hosting the Provisional Empanelment of the CA firms for the year 2021-2022 along with the provisional points / scores. The draft Panel will be available on the website of the C&AG at www.care.cag.gov.in from 18.05.2021 to 27.05.2021....
Read MoreCA, CS, CMA - I request you to allow co-op bank/ private bank staff and CA office staff for all types of bank audit purpose to commute by local railways....
Read MoreBDS Steel Vs Assam Power Distribution Co. Ltd (Gauhati High Court) - BDS Steel Vs Assam Power Distribution Co. Ltd (Gauhati High Court) The learned Senior Counsel for the petitioner has submitted that in the writ petition, the petitioner has disputed that this was a case of theft of electricity and therefore, it is submitted that the petitioner is not required to app...
Read MoreDharampal Satyapal Ltd. Vs Commissioner of Central Excise and Service Tax (Tripura High Court) - Dharampal Satyapal Ltd. Vs Commissioner of Central Excise and Service Tax (Tripura High Court) In terms of sub-rule (5) of Rule 6 of the Chewing Tobacco and Unmanufactured Tobacco Packing Machines (Capacity Determination and Collection of Duty) Rules, 2010, the machines which the manufacturer does n...
Read MoreACIT Vs Hirapanna Jewellers (ITAT Visakhapatnam) - ACIT Vs Hirapanna Jewellers (ITAT Visakhapatnam) In the instant case the assessee has established the sales with the bills and representing outgo of stocks. The sales were duly accounted for in the books of accounts and there were no abnormal profits. In spite of conducting the survey the AO did not...
Read MoreAgarwal Industries Pvt Ltd Vs The Deputy Assistant Commissioner (ST) (IV) (Andhra Pradesh High Court) - Agarwal Industries Pvt Ltd Vs The Deputy Assistant Commissioner (ST) (IV) (Andhra Pradesh High Court) No penalty for mere mismatch in invoice number mentioned in tax invoice with e-way bill Detention of goods under section 129(1) of the CGST Act – mismatch in invoice number mentioned in tax invoic...
Read MoreGuduru Chandra Sekhar Vs Union of India (Andhra Pradesh High Court) - Guduru Chandra Sekhar Vs Union of India (Andhra Pradesh High Court) In the instant case, though the petitioner herein initially filed appeal on 17.08.2020, before the Commissioner Of Customs and Central Tax (Appeals), it is clear from Form-CAI that the appellant undertook to pay the mandatory pre-de...
Read More(16/05/2021) - Oxygen concentrator is an electrically powered medical device designed to concentrate oxygen from ambient air. These devices deliver oxygen at the bedside, typically through an attached nasal cannula (or prongs), to a patient requiring oxygen therapy. The intended use or clinical purpose of oxygen c...
Read More(17/05/2021) - As a part of taxpayer facilitation, we have automated most of our refund/ drawback processes and amounts due to the taxpayers, especially of IGST that get automatically processed and credited without human intervention....
Read More(17/05/2021) - SEBI seeks public comments on the Consultation Paper on the proposed framework for Gold Exchange in India and draft SEBI (Vault Managers) Regulations, 2021...
Read More(17/05/2021) - CBDT notifies pension fund, namely, ‘Indo-Infra Inc.’ under sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 in respect of the eligible investment made by it in India on or after 17th May 2021 but on or before the 31st day of March, ...
Read More(17/05/2021) - Computer Assisted Scrutiny Selection (CASS) 2020 Cycle for ITRs of A.Y. 2019-20 for the current year has been finalized. The Board has approved the parameters for selection of cases and cases are visible to the Assessing Officers....
Read MoreA person becomes senior citizen under Income Tax Act in any year after attaining the age of 60 even for one day. Once he attains 60 years, his status as senior citizen in that...
Read MoreIf you want to sell your house property there are certain income tax implications that will help you to save your tax and help to build a better decision about selling your ho...
Read MoreCommon tax-saving mistakes: ♦ Not exhausting all the tax-saving avenues: -There are various investment schemes notified under section 80C along with certain expenses, do cov...
Read MoreArticle discusses about Meaning/ Structure/ Relevance of TAN, Persons liable to apply for TAN, Consequences of not quoting TAN, Procedure to obtain TAN, Places from where to o...
Read MoreArticle discusses about Deduction in respect of Life Insurance Premium, PPF, NSC, etc. [Section 80C]/ medical insurance premium [Section 80D]/ expenditure on training/ medical...
Read MoreSection 80D – Deduction in respect of Medical Insurance Premium (Mediclaim) Tax deductions can be availed on individual health insurance or family floater plans. Premiums pa...
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 MoreIncome Tax Calculator for the Financial Year 2020-21 for Both Regimes in Excel for Salaried Individuals in India-Ver 20.01 This excel based simple and user friendly Income Tax...
Read MoreIncome Tax TDS Rate Chart for for Financial Year (FY) 2021-22 / Assessment Year (AY) 2022-23 The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wher...
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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