A lot of people already predicted that this article is related to their own lives because they can easily relate themselves with the word in heading above Struggles. Actually, the reason behind writing this article is just to pen down my own view on this word because I am suffering with this word too.
GST is termed as a destination based consumption tax and covers all the current forms of indirect tax laws such as VAT, Service tax, Excise Duty which will be subsumed under a single term GST.
The Institute of Chartered Accountants of India has recently notified steep hike in CA Annual Membership Fees & COP Fees. Both Fees, together work out to Rs.7000 p.a. ( For Senior Members above age 60, Rs.6300). The question is : Is this Fee Revision warranted ? Does the Institute’s Financial Position justify this ? What […]
Penalty proceedings for default in not having transactions through the bank as required under Sections 269SS and 269T are not related to the assessment proceeding but are independent of it.
If tax exempted income was earned without interference of any employee but rather through solicitation and advertisement of bank the question of attributing any expenditure cannot arise at all.
This Reference under Section 256(1)of the Income Tax Act, 1961 by the Income Tax Appellate Tribunal (Tribunal) seeks our opinion on two substantial questions of law as framed by it. However, Mr. Rattesar, the learned counsel appearing for the applicant assessee very fairly states that he is not in a possession of evidence to show that the Reference has been served upon the Revenue.
Formal Transfer pricing regulation has been present in India for more than twelve years. Section 92 of income tax act, 1961 warrants that international transactions between the associated enterprises shall be computed having regard to the Arm’s Length Price (ALP).
Expressing concern over a lukewarm response on allowing small and medium scale shop-keepers to remain open for all seven days, the ASSOCHAM has impressed upon the Centre to ask the states to realise benefits of model Shops and Establishments Bill and adopt the same , for promoting retail trade which is the largest sector employer in the country.
GST and Demonetization are two bold decisions taken by the Indian government to tackle the issues which are existing and to resolve the emerging issues which arises day by day in the Indian economy. GST and Demonetization are likely to be described as game changers of the Indian Economy.
