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Archive: 06 July 2018

Posts in 06 July 2018

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6441 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Income tax saving investment options

July 6, 2018 12767 Views 0 comment Print

Once again, most of you all might have filed in the Income Tax returns but still at the back of the mind wished that you could have paid less taxes or to save more for the upcoming year. People falling in the high income group often miss out on some of the lesser known tax planning strategies which could substantially reduce their tax liability.

Digital Aadhaar / Driving Licence valid ID proof for Train Journey

July 6, 2018 1161 Views 0 comment Print

Ministry of Railways approves digital Aadhaar and Driving Licence from Digital Locker as proof of identity of passengers for undertaking journey by Train The issue regarding accepting Aadhaar and Driving Licence as valid proof of identity when presented from digital locker account of the passenger has been examined by Ministry of Railways and it has […]

GST Charcha– Know Your Taxable Jurisdiction

July 6, 2018 609852 Views 6 comments Print

Lots of issues pertaining to GST are resolving day by day, but still some grey areas exist, one of which is How to find out taxable Jurisdiction of the assessee.

Life Insurance Premium- Tax benefit on Payment and Maturity

July 6, 2018 291792 Views 58 comments Print

Life insurance policies can be used as tax planning tool as premium paid on Insurance Policies is eligible for tax benefits under Section 80C of the Income Tax Act 1961 (Act) and Maturity Proceeds are also eligible for exemption under section Section 10(10D) and Section 10(10A)(iii).

Continuous efforts being made to simplify GST system: Finance Secretary

July 6, 2018 468 Views 0 comment Print

Jul 06, 2018 Continuous efforts being made to simplify GST system: Finance Secretary Hasmukh Adhia -Work on to make GST refund process fully automatic FICCI GST Survey: 76% respondents say GST had a positive impact on their business  NEW DELHI, 6 July 2018: Finance Secretary Dr. Hasmukh Adhia today said that continuous efforts are being made […]

Directorate General of Safeguards re-named as Directorate General of Anti-profiteering

July 6, 2018 2079 Views 0 comment Print

CBIC amends Rule 125, 129, 130,131 and 132 and renamed ‘Directorate General of Safeguards’ as ‘Directorate General of Anti-profiteering’ under Central Goods and Services Tax Rules, 2017 vide Notification No. 29/2018–Central Tax dated 6th July, 2018.

Top 5 Smart Tax Saving Options

July 6, 2018 36037 Views 8 comments Print

As the end of financial year draws near, many of my friends who were least bothered about tax saving investments throughout the year, have started hunting down options to park their surplus funds and consequently save up on taxes.

Income tax benefits: for whom can you claim

July 6, 2018 12385 Views 0 comment Print

Income tax laws allow you various benefits in respect of amounts spent or invested. Primarily these tax benefits are available for amounts spent or invested on yourself but for certain items, the benefits are available for amounts invested or spent on family members.

2 year limitation period u/s 263(2) runs from date of original assessment and not from the date of reassessment

July 6, 2018 2079 Views 0 comment Print

This intra-court appeal is directed against an order dated 28.08.2017, wherein and whereby a learned single Judge of this Court had dismissed a writ petition in which a notice  dated 16.08.2017, issued by the Commissioner of Income Tax, under Section 263 of Income Tax Act, 1961, was assailed. To be noted, order of the learned single Judge is a common order in two writ petitions, but this judgment deals with the order in W.P.No.22978 of 2017 alone. 

Section 263 cannot be invoked unless CIT himself made relevant enquiries and determines order to be erroneous

July 6, 2018 1857 Views 0 comment Print

M/s. Indus Best Hospitality & Realtors Pvt. Ltd. Vs PR. CIT (ITAT Mumbai) We have considered rival contentions and carefully gone through the orders of the authorities below and found from record that CIT has invoked his power u/s.263 to examine the land development charges paid by the assessee to Smt. Sumitraben Chauhan. From the […]

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