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Finance - The Fourth quarter results of GDP data showed a phenomenal 7.7 percent growth rate and has established India firmly as the fastest growing global economy. This trend, according to experts, is likely to continue for the next few years. With structural reforms like demonetisation, the implementation of the Goods and Services Tax and the enf...
Read MoreCompany Law - Every significant beneficial owner is required to file a declaration in Form No. BEN-1 to the company in which he holds the significant beneficial ownership:...
Read MoreCompany Law - Requirement of Filing: Any Person who is willing to appoint as Director in a Company/Limited Liability Partnership must have a Director Identification Number. DIN is a pre-requisite for becoming a Director. DIN includes DPIN (Designated Partnership Identification Number) Section: Section 153 of the Companies Act, 2013 Rules: Companies (Ap...
Read MoreFema / RBI - I have in my earlier article on Ease of doing business in India, published by Tax Guru on 06.11.2017 had informed that RBI had agreed to take necessary steps to set up a Public Credit Registry in India and in tune with that, RBI recently got a report on Public Credit Registry in India from a High-Level Task Force set up by RBI itself. ...
Read MoreIncome Tax - Rule 46 A of the Income Tax Act is the rule related to production of additional evidence before the first appellate authority after an assessment being made by the Assessing officer....
Read MoreIncome Tax - The general public is hereby informed that the Income Tax Department (ITD), Government of India has appointed only two entities namely NSDL e-Governance Infrastructure Limited (NSDL e- Gov) and UTI Infrastructure Technologies Services Limited for purpose of receiving and processing of PAN applications. ...
Read MoreCA, CS, CMA - The Young Members Skill and Innovation Development Committee of ICAI has been taking various initiatives for the empowerment of the young members. To encourage young members to develop their public speaking skill, the committee intends to select 1000 young members as speakers....
Read MoreGoods and Services Tax - This article have updated Central Goods and Services Tax Rules, 2017 which were initially released on 19th June 2017 and amended by various notifications issued from time to time. CGST Rules are updated with notifications issued till 13th June 2018. Details of Initial and Subsequent Notifications :- S. No. Notification No. and Date Titl...
Read MoreGoods and Services Tax - Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their behalf had used their own email and mobile number during the process. They are now not sharing the user credentials with the taxpayer on whose behalf they had done the registration in the first place and the ...
Read MoreCompany Law - The Institute of Company Secretaries of India had in its mail dated 8th May, 2018 communicated the notification of Companies [Registered Office and Fees) Second Amendment Rules, 2018 by the Ministry of Corporate Affairs along with providing relaxation for the Additional Fees payable in the event of delay wherein the due date of filing of ...
Read MoreShakti Hardware Collection Pvt. Ltd Vs DCIT (ITAT Mumbai) - Where assessee having received share capital furnished evidences, i.e. addresses, PAN No., copies of returns and bank statements of subscribers, etc., AO was not justified in treating share application money as unexplained without rebutting such evidences....
Read MorePr. CIT Vs Ritu Singal (Delhi High Court) - Assessee clearly failed to specify as to how she derived undisclosed income and under what head it fell in (rent, capital gains, professional or business income out of money lending source of the income, etc. Unless such facts were mentioned with some specificity, it could not be said that conditio...
Read MoreA.C.I.T. Vs Smt. Reshmi P. Loyalka (ITAT Kolkata) - Whether the reinvestment made by the assessee in 3 residential houses having common amenities, kitchen, common entrance, common house name, common electrical, common storage, common water, common garden, common boundary wall, common guard room, etc would give eligibility to claim exemption u/s 54 of...
Read MoreHyundai Motor India Engg. Pvt. Vs Dy. Commissioner of Income tax (ITAT Hyderabad) - Hyundai Motor India appeal: Including bad debts and provision for bad and doubtful debts as operating expenses is necessary for the purpose of computing profit and loss of comparable companies, the margins of comparable companies ...
Read MorePediatric Infectious Diseases Academy Vs I.T.O. (ITAT Kolkata) - Where the income of the assessee was exempt under section 11 and the assessee was not carried on the business, section 40(a)(ia) had no application. Moreover, the insertion of Explanation 3 to Section 11 by the Finance Act, 2018 making inter alia the provisions of Section 40(a)(ia) applicable in cas...
Read MoreG.S.R. 557(E). - (12/06/2018) - Limited Liability Partnership (Amendment) Rules, 2018- Every individual who has been allotted a DPIN or DIN under these rules, shall in the event of any change in his particulars, make an application in Form DIR-6 under Companies (Appointment and Qualifications of Directors) Rules, 2014 to intimate ...
Read MoreOrder No. CT/GST-12/2017/51 - (12/06/2018) - For verification of e-way bill in course of movement of goods by a conveyance and to carry out inspection, search and seizure at the place of business of a taxable person and a transporter for the purpose of preventing evasion of tax, it is felt necessary to have 'Mobile Squads'....
Read MoreNotification No.26/2018/F.No.370142/3/2018-TPL - (13/06/2018) - CBDT notifies Cost Inflation index for Financial Year 2018-19 at 280, vide Notification No. 26/2018-Income Tax dated 13th June, 2018. ...
Read MoreF. No. CBEC/20/16/03/2017-GST - (14/06/2018) - FAQs on hotel and accommodation services etc. to SEZ / SEZ Developers and refund of unutilized input tax credit to independent fabric processors (job workers)...
Read MoreF. No.10/Representation/Govt.Scheme/GSTC/2018/Pt. - (04/06/2018) - The Secretary General, General Insurance Council, Mumbai vide his letter dated 04.05.2018 has requested to exempt GST on reinsurance services provided for exempted Government Sponsored Insurance Schemes which are listed as below:...
Read MoreIt is rightly said that failing to plan is planning to fail. This adage resonates further in case of family succession planning. If an individual fails to plan for his/ her su...
Read MoreThe Indian income tax laws provide certain tax benefits to senior citizens. Let us discuss those benefits. 1. Higher Basic Exemption Limits for senior citizens under income ta...
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 MoreIn this article we have discussed Income Tax deduction available to Taxpayers from various sources of Income for A.Y. 2018-19 / F.Y. 2017-18 and subsequent Years. Deductions i...
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 MoreTo arrive to the balances as per books of accounts, we have prepared GST Credit Calculator Utility wherein you need to key in the outward supply, ITC and other figures as per ...
Read MoreInterest calculator for delay in payment of service tax is attached which can calculate interest in one shot for different period. Interest is levied on the assessee when he d...
Read MoreDownload the automated Income Tax Calculator for the Financial Year 2018-19 & Ass Year 2019-20 as per the new central budget 2018-19, with all amendment by the CBDT....
Read MoreIn this Article we updates about the normal Income tax rates applicable to different types of taxpayers for Financial Year 2018-19 . The Income tax rates discussed in this pa...
Read MoreCountry wise Withholding tax rate on Dividend (not being covered under Section 115-O), Interest, Royalty and Fee for Technical Services as updated with amendment carried out b...
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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