Ministry of Corporate affairs after the introduction of Director KYC through e form DIR-3 KYC has decided that KYC of the Registered office of the Company shall be there, accordingly Ministry of Corporate affairs has introduced a concept of ACTIVE (i.e. Active Company Tagging Identities and Verification) to tag the identity of the Company i.e. the […]
Reopening Of A Completed Assessment Not Allowed On A Issue Which Was Based On Nothing But A Change Of Opinion On The Same Facts And Circumstances Which Were Already In Knowledge Of Income Tax Officer Even During The Original Assessment Proceedings
Whether applicant is liable to collect GST on amount recovered from contractors on account of breach of conditions specified in the contract ? Whether applicant is liable to collect GST on amount recovered from contractors on account of not achieving milestone ?
Question 2: Whether showing and charging freight and insurance portion separately in invoice would attract GST. Answer: GST is chargeable. There cannot be different type of treatments of tax liability on supply of different goods/services naturally bundled together.
Understand Ind AS 24 – Related Party Disclosures in Indian Accounting Standards. Learn about related party transactions and their impact on financial reporting.
Smt. Rashmi Mujumdar Vs DCIT (ITAT Indore) We are surprised to note that the Ld.CIT(A) did not allowed the claim of silver articles weighing 609 grams and 280 grams valuing Rs.24,639/- and Rs.9856/-. CBDT instruction No.1916 dated 11.5.1994, CBDT directs the income tax authorities conducting the search not to seize the jewellery ornaments found during […]
In India, every person who comes under taxable income keeps no stone unturned to save his/her taxes. He or she tries to avail various deductions as permitted under section 80C to 80U available under the income tax act 1961. Fortunately, now in India, there are various incomes and investments that are tax-free. In this column, […]
Ask any financial expert about their recommendation when it comes to a particular mode of investment, and there’s a high probability that the words ‘’ will probably be the first thing that comes out of their mouth. And why wouldn’t this be the case? After all, the concept of fixed deposits has pretty much cemented […]
The new standard will require lessees to recognize most leases on their balance sheets. Lessees will use a single accounting model for all leases, with limited exemptions. Ind AS 116 is likely to be effective for accounting periods beginning on or after 1 April 2019.
Learn how to correct mistakes in your Income Tax Return and file a Revised Return to rectify errors. Get the necessary information and deadline for filing the revised return.
