Delay in filing income tax return is going to be painful now onwards. A new section 234F has been inserted into the income tax act which describes the late fees on account of filing belated returns.
What is difference between Beneficial Owner (BO) and Significant Beneficial Owner (SBO)? Beneficial Owner: Every individual, who acting alone or together, or through one or more persons or trust, including a trust and persons resident outside India, holds beneficial interests, in shares of a company or the right to exercise, or the actual exercising of significant influence or control.
Article covers Taxability of Transfer of Development Rights in Positive List, Negative List and GST ERA – A Comparative Analysis of Indirect Tax Applicability
Howrah CGST Coinniissionerate has unearthed a GST fraud based i.n the Hooghly and Howrah area involving a case of fraudulent issuance of fake GST invoices involving tax evasion of approximately Rs 43 Crores.
WHEREAS, concerns about usage and disposal of plastic are diverse and include accumulation of waste in landfills, water bodies and in natural habitats, physical problems for wild animals resulting from ingestion or entanglement in plastic, the leaching of chemicals from plastic products and the potential for plastics to transfer chemicals to wildlife and humans are increasing.
In the present case, merely because the society charged some extra charges from a few of its members for display of neon signs, the society cannot be treated as an industry carrying on business of hiring out of neon signs or allowing display of advertisements. In the premises, the impugned award of the Labour Court suffers from a serious error of jurisdiction.
Rajasthan Government hereby notifies that the surcharge at the rate of twenty percent shall be levied and collected, on the amount of tax or any sum in lieu of tax payable on the sale of Foreign Liquor, Indian Made Foreign Liquor, Country Liquor and Beer sold by the dealers registered under the provisions of the Rajasthan Value Added Tax Act, 2003 (Act No. 4 of 2003), with effect from 23-06-2018.
E-Way Bill has been made applicable under the Central GST with effect from 1st February, 2018 and was not in place on the date of seizure though the State of U.P. alone has made a provision for the E-Way Bill earlier but that was not applicable to the State of Jharkhand from where the said loader/tipper had started journey.
Where amount forfeited by assessee against cancellation of booking of flat was subject-matter of civil suit, it could not be said that there was cessation of liability so as to tax such amount as assessee’s income.
Deduction under section 24(b) and computation of capital gains under section 48 being altogether different provisions, interest paid to bank for acquiring capital asset would be eligible as part of cost of acquisition, even if same had been claimed under section 24(b) while computing income from housing property.
