"25 July 2018" Archive

Supply of UPS with battery is a composite supply: AAAR

In re Switching Avo Electro Power Limited (GST AAAR West Bengal)

In re Switching Avo Electro Power Limited (GST AAAR West Bengal) Whether UPS with battery is a composite supply? There is no denying of the fact that an in-built battery of static converter (UPS) is part and parcel of the uninterrupted power supply system and is covered under Tariff Head 8504 and intra-State supply thereof […]...

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ICAI clarifies on Fake date of declaration of results of CA exams

It has been brought to our notice that a fake announcement regarding the date of declaration of result of the Intermediate examination held in May 2018 is doing the rounds in the social media....

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Income Tax Return filing due date & Impact of delayed ITR filing

Articles explains What are the due date of Filing Income Tax Return (ITR) and what happens if one fails to file the Income Tax Return (ITR) by the due date...

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Last Date To File Income Tax Return

Knowing Due date to file Income Tax Return is very Important and so is filing of Income Tax Return before the Last Date. Filing of Income Tax Return after last date makes a taxpayer liable to Late Fees, Interest , Penalty, Prosecution. ...

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E- Filing Of Income Tax Return- Procedure

E- Filing Of Income Tax Return / Online Filing Of Income Tax Return (ITR) is Mandatory for some classes of Assessee and is Optional for others. Article explains Procedure for E-Filing of Income Tax Return....

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Key Amendments to Form no. 3CD effective from 20 August 2018

CBDT vide Notification No. 33/2018 amends Form no. 3CD in respect of tax audit under section 44AB. The new reporting requirements, especially with reference to secondary adjustment, limitation on interest deduction, GAAR, Country-by-country Report, etc. are onerous and obligatory on the taxpayers and chartered accountants. Introduction: T...

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What If Income Tax Return Not Filed?

Article explains Consequences of late filing/ non filing of Income Tax Return which includes- Loss of interest on Refund in case the same is due to the assesee, belated return cannot be revised, Even a few of deductions are also not and Both the interest and penalty levied...

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GST on Ocean Freight

The need to understand the tax on ocean freight came due to its peculiar nature of transaction. Here the term Ocean Freight read by breaking two words in simple language, ocean is a large area of salt water between continents and freight implies transport charges. ...

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These small mistakes in ITR filing are better avoided

While filling up the ITR forms certain mistakes are committed by by us due to oversight. Let us discuss 5 such mistakes which relates to Email ID and mobile Number, Details for refund bank account, Details of TDS as well as advance tax and self assessment tax, Schedule CG of capital gains and Foreign bank […]...

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Extend Due Date of ITR for AY 2018-19

In the interest of the Taxpayers and the Tax Professionals, we hereby request Your Honour to kindly extend the due dates for filing of returns by at least 2 months, in both the cases, i.e. till 30.09.2018 for non audit cases and 30.11.2018 for audit cases....

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