"02 February 2019" Archive

Portfolio Management Fees allowable as an expenditure

Shyam Sunder Duggal, HUF Vs ACIT (ITAT Mumbai)

Shyam Sunder Duggal Vs ACIT (ITAT Mumbai) The only grievance of the assessee is that the Ld.CIT (A) has wrongly confirmed the addition of Rs. 7,77,000/- made by the AO by making disallowance of fees paid to Portfolio Managers. As is clear from the record that the assessee paid Rs. 7,77,744/- to PMS providers and […]...

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ICAI CA IPCC / Intermediate November 2018 Result- Updates

ICAI (Institute of Chartered Accountant of India) organizes the exam of CA Intermediate and CA IPCC twice in a year in the month of May and Nov. ICAI recently conducted the exam of CA IPCC and CA Intermediate in the month of November 2018, the result of which is awaited. In the recent announcement by ICAI, it announced that CA IPCC result...

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Posted Under: Income Tax |

Income tax slabs for Individuals for FY 2019-20 (AY 2020-21)

The Interim Finance Minister Shri Piyush Goyal Presented the interim budget on February 01, 2019 in Lok Sabha on which he told about the various amendments in Income Tax Act 1961 through Finance Bill 2019. The Main relief to individual taxpayers is Rebate u/s 87A of Income Tax Act which increased the limit of rebate […]...

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Form MSME- I

Form MSME- I for Furnishing of information about payment to micro and small enterprise suppliers as notified by ‘Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019′. APPLICABILITY TO: Every specified company shall file Return with ROC in e-form MSME- I for details of all ...

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Posted Under: Income Tax |

Demystifying Interim Budget 2019 Insights of Income Tax Amendments

Finally, Interim Budget 2019 by our interim Finance Minister Mr. Piyush Goyal is on our desk for review. This budget holds high expectations from the end of Middle-Class People who had been ignored since so long, from the farmers who were overburdened in debt, from MSME Sector who was much in finance distress, from the unemployed youth wh...

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Posted Under: Income Tax |

Indian market in 2019

Everyone in stock market desires to have a vision about the future movement of stock market. So, they can be benefited from it. And with the arrival of 2019, these desires have increased exponentially. The year 2018 has passed, but the volatility of the market has been continuously increasing. It is now crystal clear that […]...

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Posted Under: Income Tax |

GST Revenue for January 2019 crosses Rs. 1 Lakh Crore Mark

GST Revenue Collections for the month of January 2019 crosses Rupees One Lakh Crore Mark The total gross GST revenue collected in the month of January, 2019 is Rs 1,02,503 crore of which CGST is Rs 17,763crore, SGST is Rs 24,826 crore, IGST is Rs 51,225 crore (including Rs 24,065 crore collected on imports) and Cess is Rs ...

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Posted Under: Income Tax |

Analysis of CGST (Amendment) Act, 2018 applicable from 01.02.2019

CBIC Notifies applicability of CGST (Amendment) Act, 2018 with effect from 1.02.2019 vide Notification No. 02/2019 Central Tax Dated 29.01.2019. The amendment has following effects:...

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Posted Under: Income Tax |

Changes in GST Act and Rules applicable from 01.02.2019

The Government notifies the applicability of the following acts from 1st February 2019:- CGST (Amendment) Act, 2018 vide notification 2/2019- CGST dated 29.01.2019 IGST (Amendment) Act, 2018 vide notification 1/2019 – IGST dated 29.01.2019, UTGST (Amendment) Act, 2018 vide notification 1/2019- UTGST dated 29.01.2019 GST (Compensation to...

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Posted Under: Income Tax |

The Budget for New India will energise the nation, says PM

Budget will empower the poor, give a boost to the farmer and an impetus to economic growth: PM 12 crore farmers and their families, 3 crores middle class taxpayers will be directly benefitted: PM Farmers having land under 5 acres will be greatly helped by the PM Kisan Nidhi Unorganised sector’s interests to be safeguarded more by the ...

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Posted Under: Income Tax |

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