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CA, CS, CMA - In 1991, the Government of India opened its gates to the world through globalization. Over the years globalization has enabled cross border transactions in form of FDI’s and ODI’s, and cross border listing. ...
Read MoreIncome Tax - Arjuna, We had started the journey of Karneeti in June, 2013. Today it has completed its 200 parts. The series started for giving the information regarding taxation to general taxpayers and it became very successful. So today is exciting day....
Read MoreCorporate Law - The National Company Law Appellate Tribunal [NCLAT] Judgment dated Sept. 20, 2017 wherein it has been held that a Power of Attorney [POA] Holder is not authorised to file proceedings under IBC and only an 'Authorised Representative' by the Board of Directors can file the same....
Read MoreIncome Tax - Following are the details which is required to be updated: New Registration process to facilitate effective communication between the taxpayer and department is enabled. The existing e-Filing users are required to update their profile by logging into e-Filing account....
Read MoreIncome Tax - Section 295(2) (ha) of the Income Tax Act, 1961 provides that the CBDT (Board) may make Rules for the procedure for granting of relief or deduction, as the case may be, of any income tax paid in any country or specified territory outside India, under Section 90 or Section 90A or Section 91, against Income – tax payable under the said Ac...
Read MoreGoods and Services Tax - TDS Deductor Registration Has been enabled on GST Portal Now you can apply GST TDS Deductor Registration from today. Text of Relevant Section 51 of Central Goods and Services Tax Act, 2017 is as follows :- 51. Tax deduction at source. (1) Notwithstanding anything to the contrary contained in this Act, the Government may mandate,–– (a...
Read MoreIncome Tax - In the light of demonetisation, Income Tax Department (ITD) initiated Operation Clean Money (OCM) or Swachh Dhan Abhiyan on 31st January 2017 with the objective, to create a tax compliant society through a fair, transparent and non-intrusive tax administration....
Read MoreCA, CS, CMA - Mumbai Based well known Firm of Chartered Accountants needs Chartered Accountants to work in field of Audit (Statutory, Internal, Tax) with post qualification experience from 2 to 5 Years. Job Description is as follows :- – Candidate must have good Academic background – Should have good communication skills – Candidate s...
Read MoreGoods and Services Tax - The GST Council, in its 21st meeting held on 9th September, 2017 at Hyderabad has, interalia, recommended that for 5% GST rate on cereals, pulses and flours etc. put up in unit container and bearing a registered brand name:...
Read MoreGoods and Services Tax - Taxpayers who have not set off their tax liability for GSTR 3B for July 2017 and have only done ‘Submit’ of their GSTR 3B, have now been given option to edit, submit and file their Returns. (Source- Tweet from @askGSTech on 22.09.2017....
Read MoreRamswaroop Vs PIO (Central Information Commission) - The appellant sought to know: a) how many persons exchanged old notes for new notes at Pinto Park branch and also in 3 Wing Branch of Post Office in Air Force area, during the period 08.11.2016 to 25.11.2016 after demonetization; b) total amount of new currency issued for the period 08.11.2016 to 01...
Read MoreHarish Narinder Salve Vs. ACIT (ITAT Delhi) - Deferral of depreciation allowance does not result into any concealment of income or furnishing of any inaccurate particulars, the Income Tax Appellate Tribunal has held while setting aside the penalty imposed on eminent lawyer Harish Salve for alleged concealment of income as it said his tax paymen...
Read MoreACIT Vs. Mehar Anand & Anr. (ITAT Delhi) - In the present case also the income returned by the assessee under section 153A of the Act has been accepted by the assessing officer and once the assessing officer accepts the revised return filed under section 153A of the Act, the original return under section 139 of the Act abates and becomes non...
Read MoreVodafone India Limited Vs The Competition Commission of India represented by its Secretary & ors. (Bombay High Court) - Bombay High Court quashed and set aside an order of the Competition Commission of India (CCI) which directed a probe into the ‘cartelisation’ charge leveled against Vodafone India, Idea Cellular and Bharti Airtel Limited, by Reliance Jio....
Read MoreDelhi High Court Bar Association & ANR Vs Union of India & Ors (Delhi High Court) - service tax from 1st April 2016 itself ought to have been collected on reverse charge basis. If any client who has paid the fees of the Senior Advocate, has failed to make payment of the corresponding service tax on reverse charge basis, it would be open to the Department to proceed against such cli...
Read MoreDO.No.28/CH(EC)/2017 - (23/09/2017) - The Bengaluru GST Zone has revamped its website to focus on GST. It has developed a GST jurisdiction Finder App which can be used by the tax payer to easily identify his/her jurisdictional Central Tax Office....
Read MoreNotification No. 89/2017-Customs (N.T.) - (21/09/2017) - (1) The tariff items and descriptions of goods in the said Schedule are aligned with the tariff items and descriptions of goods in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) at the four-digit level only. The descriptions of goods given at the six digit or eight digit or modified...
Read MoreTrade Circular No. 42T of 2017 - (22/09/2017) - Provisional Ids and Access Token of Phase 13 dealers, are now made available by GSTN. Dealer can obtain their Provisional Ids from department's portal www.mahavin using their login credentials. The list of all such dealers is published under GST Tab on Mahavat portal. This phase 13 mainly considers ...
Read MoreThe Central Bureau of Investigation has today arrested a Deputy Commissioner of Income Tax, Mumbai and his two accomplices (private persons) in an alleged bribery of Rs. Three crore. A case was registered against the Deputy Commissioner of Income Tax, Mumbai on the allegations of demanding an illega...
Read MoreNotification No. 29/2017- Central Tax (Rate) - (22/09/2017) - Seeks to amend notification no. 5/2017- central tax (rate) dated 28.06.2017 to give effect to GST council decisions regarding restriction of refund on corduroy fabrics...
Read MoreMr Chaudhury has just sold his old ancestral house for a lump sum consideration of Rs. 20,00,000. He has now set his eyes on a new apartment which is due for possession within...
Read MoreReflecting on ownership or leadership succession provokes an extreme emotional reaction for business and asset owners, as this is a reminder of age and mortality, which innate...
Read MoreIt really hurts to see a large pie of the salary cut towards tax. So the obvious question in everyones mind is How do I reduce my tax?. Every year we are forced to invest in s...
Read MoreIntroduction of new SINGLE PAGE ITR Form-1(Sahaj). This initiative will benefit more than two crore tax-payers who will be eligible to file their return of income in this simp...
Read MoreWho can claim deduction under this section? Any assessee (may be an individual, HUF, firm, company or any other person) can claim deduction under this section....
Read MoreAs per section 80CCC, where an assessee being an individual has in the previous year paid or deposited any amount out of his income chargeable to tax to effect or keep in forc...
Read MoreThis excel sheet has been updated with functionality for carry forward of ITC . Many People are getting confused over treatment of RCM in the Excel Sheet. RCM in Simple terms ...
Read MoreThe below Income Tax calculator contains the rate of tax for last 21 financial year (i.e Financial year 1997-98 to 2017-18) and income tax calculator for last 11 years (i.e Fi...
Read MorePlease find attached GST – Financial Impact Sheet / Calculator, which can be used for evaluating Financial Impact of GST on a business. ...
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 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 MoreThe e-book contains Rate of Tax on Services as applicable after considering all Notifications, Circulars etc issued by CBEC from time to time till 3rd July 2017 and includes S...
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