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Archive: 21 February 2018

Posts in 21 February 2018

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 4866 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 4215 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

The way I see it…(A big bank fraud)

February 21, 2018 11742 Views 10 comments Print

With the latest Rs. 11,000 crore scam by a world-renowned jeweler Nirav Modi and his firms, several questions arise in our minds. This is a willful scam carried out by few bank officials and the jeweler. Having said that the involvement of top politicians and RBI officials cannot be ruled out.

Are Provisions of EPFO Act Applicable to ICAI?

February 21, 2018 4392 Views 2 comments Print

We all seem to have the basic understanding of the Provident Fund Provisions. However, being a Fellow Member of the esteemed Institute of Chartered Accountants of India (ICAI), one question has always made me curious i.e. whether the provisions of EPFO Act are applicable to an autonomous regulatory body like ICAI.

Disclosure of Beneficial Ownership & Control under Companies Act, 2013

February 21, 2018 15669 Views 0 comment Print

The Companies Act 2013 and further major amendments noted in the Companies (Amendment) Act 2017 related with Section 89 and 90 of the Companies Act, which governs and spell out provisions of the Beneficial Ownership.

Budget Excerpts 2018 – A brief Analysis !

February 21, 2018 2688 Views 0 comment Print

No change in the in the slab rates of income tax for FY 2018-19. However, Education Cess on income-tax and Secondary and Higher Education Cess on income-tax of 3% shall be discontinued. New Cess Health and Education Cess is introduced levied at the rate of 4% of the income tax including surcharge (wherever applicable)

GST: How to File Payment Related Grievances (PMT-07)

February 21, 2018 14979 Views 0 comment Print

Grievances can be submitted either before or after logging-in to the GST Portal, however, payment related grievances can only be submitted by registered users or Taxpayers, since they are required to mention the GSTIN.

FAQs on Filing GST Payment Related Grievances (PMT-07)

February 21, 2018 12609 Views 0 comment Print

All grievances related to Payments are handled by the GST Portal. Based on the CPIN and Bank name entered by Taxpayer in the Grievance Form, an on demand call will be sent to the concerned bank. Based on the response from the bank, the Electronic Cash Ledger will be updated with appropriate comments and the grievance will be closed.

Amendments in ANFs 4F & 4G of Handbook of Procedures 2015-20

February 21, 2018 12042 Views 0 comment Print

Amendments have been made in Ayat Niryat Forms (ANF) 4F & 4G of Handbook of Procedures 2015-2020 in light of implementation of GST and non-issuance of EP copies of Shipping Bills by Customs Authorities.

Section 56(2)(vii) HUF can’t be treated as a ‘Donor’ of Gift

February 21, 2018 15942 Views 1 comment Print

Gyanchand M. Bardia Vs. ITO (ITAT Ahmedabad) The first dispute between the parties is qua validity of assessee’s gift claim as received from the HUF amounting to Rs. 1,02,00,000/- coming through banking channel. Both the lower authorities are of the view that an HUF does not come under the specified category of a relative in […]

Set-off of unabsorbed depreciation allowable against Addition U/s. 68

February 21, 2018 9741 Views 0 comment Print

Asst. Vs Sai Bhaskar Irons Ltd. Once addition under section 68 was included in gross total income, AO had to allow set off of unabsorbed depreciation loss as provided under section 71 dealing with the set off of loss from one head against income from another head. FULL TEXT OF THE ITAT JUDGMENT This appeal […]

Change in procedure of filing GSTR 3B wef 21.02.2018

February 21, 2018 22929 Views 11 comments Print

There was a slight change in procedure of filing GSTR 3B from today i.e. 21.02.2018 what GSTN termed as ‘Filing GSTR 3B is now made more user friendly. This write the highlights of the changes made in procedure and also detail walk through by way of screenshots of the changed procedure.

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