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Company Law - What is DIR-3 KYC? DIR-3 KYC is a new form launched by the MCA. This form will be used to update the KYC of all directors. As per the provisions of Rule 12A of the Companies (Appointment and Qualification of Directors) Rules, 2014, every individual who is allotted DIN as of 31st March of a […]...
Read MoreIncome Tax - Organization for Economic Cooperation and Development (OECD) and the (G20) countries have launched an initiative known as base erosion and profit shifting (BEPS), which consists mostly of tax avoidance methods. These techniques primarily aim to fill in and make accommodations for tax policy loopholes, which aid in leveraging such gaps in ...
Read MoreIncome Tax - Long-term savings is a big commitment, but they need to be done to increase benefits and future emergencies. The Provident Fund (PF) is a pension fund that helps people regularly save a portion of their salary to provide enough money for a good and healthy lifestyle after retirement. This program is provided by the Employment […]...
Read MoreCA, CS, CMA - The continuing economic impact of the pandemic, governments, globally, are looking to mobilize revenues and debating on the best way for immediate collection. Should it be taxes directly collected from individual taxpayers such as increased personal income, wealth and property tax; or increased taxes on luxury goods consumption; or taxes ...
Read MoreIncome Tax - Usage of word ‘may’ under Section 144B(7)(vii) of the Income Tax Act, 1961 (IT Act) could not absolve the Revenue (the Respondent) from the obligation cast upon it to consider the request made for grant of personal hearing. Therefore, the assessment order passed by the Respondent without giving an opportunity of personal hearing to th...
Read MoreGoods and Services Tax - The 44th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today. The Council in its meeting has decided to reduce the GST rates on the specified items being used in Covid-19 relief and management till 30th September, 2021....
Read MoreGoods and Services Tax - As part of our constant endeavour to provide a smooth and hassle free experience to the taxpayers and simplify the process for them, to comply with their GST compliances, following functionalities are recently deployed or are being deployed on the portal shortly: Sl.No. Module Form/ Functionality Functionality released/ to be released for...
Read MoreCA, CS, CMA - TaxGuru Edu, announces Live Online Short Term Certification Courses on GST Compliances, Income Tax Compliances and Advanced Excel – June 2021....
Read MoreGoods and Services Tax - Tax Bar Association Jodhpur (Rajasthan) has written a letter to DC (Administration), Jodhpur and requested for extension of Date for Phase-I of ‘Rajasthan Amnesty Scheme-2021’ from 30th April 2021 to 31st July 2021. Date: 09/06/2021 To, DC (Administration) Jodhpur Hon’ble Sir, Greetings of the Day! Sub: Request to extend of ...
Read MoreIncome Tax - Karnataka Taxpayers Association has released a Press note and stated that New Income Tax Filing Portal has crashed within an Hour of Launching & till date not repaired. It further states that New Portal is neither user friendly and not properly developed. KTA demanded for Roll back of Old Income Tax Portal, so as to […]...
Read MoreExecutive Engineer of Uttar Gujrat VIJ Company Ltd. Vs Devang P Samapat RP of Ms. Kanoovi Foods Pvt. Ltd. (NCLAT Delhi) - Executive Engineer of Uttar Gujrat VIJ Company Ltd. Vs Devang P Samapat RP of M/s. Kanoovi Foods Pvt. Ltd. (NCLAT Delhi) If the electricity consumption was for manufacturing and output of the Biscuits which is the normal operation of the Corporate Debtor, in that case dues arising from such supply o...
Read MoreBansal Steel Power Limited Vs Commissioner of CE & ST, Rohtak (CESTAT Chandigarh) - Bansal Steel Power Limited Vs Commissioner of CE & ST, Rohtak (CESTAT Chandigarh) CESTAT finds that in the statement of M/s. Adarsh Enterprises and M/s Gandhi Springs, it is clearly mentioned that they have not returned the goods but produced the ledger account. The ledger accounts are with th...
Read MoreVijay Mohan Harde Vs ACIT (ITAT Pune) - Vijay Mohan Harde Vs ACIT (ITAT Pune) A copy of the notice issued u/s 274 of the Act has been placed in the appeal folder, from which it is discernible that the AO did not strike off either of the two limbs viz., concealed the particulars of income or furnished inaccurate particulars of such income,...
Read MoreITO Vs KEM Hospital & Sheth GSM College Employees Co-operative Credit Society Limited (ITAT Mumbai) - ITO Vs KEM Hospital & Sheth GSM College Employees Co-operative Credit Society Limited (ITAT Mumbai) Assessee which is a co-operative credit society is not a primary co-operative bank, hence, it would not be hit by the provisions of Sec.80P(4) as had been made available on the statute vide the Fi...
Read MoreSAMS Facilities Management Private Limited Vs National Faceless Assessment Centre & Anr (Delhi High Court) - SAMS Facilities Management Private Limited Vs National Faceless Assessment Centre & Anr (Delhi High Court) The petitioner claims that the impugned assessment order was passed without passing a draft assessment order and the variation made in the declared income was carried out without issuance o...
Read More(09/06/2021) - Vide Notification No. 72/2021-Income Tax | Dated: 9th June, 2021 CBDT notifies Tax Exemption to ‘Competition Commission of India’, a Commission established under Section 7(1) of the Competition Act, 2002 in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF...
Read More(07/06/2021) - MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) (DIRECTORATE OF REVENUE INTELLIGENCE) New Delhi, the 7th June, 2021 Notification No. 28/2021-Customs (N.T./CAA/DRI) S.O. 2247(E).—In pursuance of notification No. 60/2015-Customs (N.T.), published vide number...
Read More(10/06/2021) - These regulations shall be called the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021. They shall come into force on the date of their publication in the Official Gazette....
Read More(11/06/2021) - On a review, it has been decided that Risk Based Internal Audit (RBIA) shall be applicable to Housing Finance Companies (HFCs) also, as stipulated below: a. All deposit taking HFCs, irrespective of their size b. Non-deposit taking HFCs with asset size of ₹5,000 crore and above ...
Read More(11/06/2021) - IRDAI has Imposed Penalty of Rs. 8 Lakh on Interocean Insurance Suveyors And Loss Assessors Pvt. Ltd. For Acceptance of survey works in areas for which the Surveyor does not hold a license. It also cautioned it for Delay in submission of survey reports and issued advisory for Failure to intimate t...
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 MoreAs per section 208, every person whose estimated tax liability for the year is Rs. 10,000 or more, shall pay his tax in advance, in the form of advance tax. In this part you c...
Read MoreThis question come in the minds of many how to save tax when we sale or transfer residential house property and then invest those amount to buy any other asset. Income tax pro...
Read MoreITO Vs KEM Hospital & Sheth GSM College Employees Co-operative Credit Society Limited (ITAT Mumbai) Assessee which is a co-operative credit society is not a primary co-ope...
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 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 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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