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Archive: 19 March 2019

Posts in 19 March 2019

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

May 15, 2024 6435 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.

Threshold limits for Regular & Composition Registration under GST law

March 19, 2019 7575 Views 0 comment Print

In this article, attempt has been made to enlist various thresholds (as amended from time to time) as prescribed under the GST law for normal registration in different States/UTs, thresholds for Composition registration and a snapshot on Notification No. 2/2019- CT (Rate). Normal GST Registration in case of Goods: Particulars States/UTs Relevant Sections, etc. Limits […]

Section 80-IC deduction eligible on Additions for interest & bad debts

March 19, 2019 1914 Views 0 comment Print

Since assessee was held entitled to claim deduction of its profits at the rate of 100% in terms of section 80-IC, therefore, additions made towards interest and bad debts so made were also entitled to deduction under section 80-IC resulting in no addition to the taxable income of assessee.

GST rate on real estate sector- Decisions in 34th GST Council meeting

March 19, 2019 29583 Views 3 comments Print

Decisions taken by the GST Council in the 34th meeting held on 19th March, 2019 regarding GST rate on real estate sector GST Council in the 34th meeting held on 19th March, 2019 at New Delhi discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower […]

During PMLA investigation property can be attached upto 365 days from 20.03.2019

March 19, 2019 1392 Views 0 comment Print

Government notifies that During PMLA investigation property can be attached upto 365 days from 20.03.2019 from the earlier period of 90 days as provided in Finance Act, 2019. MINISTRY OF FINANCE (Department of Revenue) Notification No. 1/2019 New Delhi, the 19th March, 2019 G.S.R. 225(E).—In exercise of the powers conferred by section 22 of the […]

Compliance to be Made by Companies as per recent amendments

March 19, 2019 3054 Views 0 comment Print

Article discusses for new Forms to be filed by Companies under Companies Act, 2013 wghich includes- A. ACTIVE (Active Company Tagging Identities and Verification), B. Form DPT-3 (RETURN OF DEPOSITS), C. Form 20A (Commencement of Business) and D. Form MSME-1. A. ACTIVE (Active Company Tagging Identities and Verification) MCA – E-FORM ACTIVE to be filed […]

Bogus Share Premium/Share Capital – Responsibility of Assessee to Prove with Cognet Evidence

March 19, 2019 3624 Views 0 comment Print

Merely because assessee company had filed all primary evidence, it could not be said that onus on assessee to establish credit worthiness of investor companies stood discharged u/s 68 of the Income Tax Act, 1961.

Section 80P(4): To allow deduction AO can enquire into activities of assessee

March 19, 2019 2718 Views 0 comment Print

The Mavilayi Service Co-operative Bank Ltd Vs CIT (Kerala High Court) In view of the law laid down by the Apex Court in Citizen Co-operative Society v. Assistant Commissioner of Income Tax: AIR 2017 SC 5147, it cannot be contended that, while considering the claim made by an assessee society for deduction under Section 80P […]

Transport Expense cannot be disallowed for mere non-furnishing of prescribed forms

March 19, 2019 3123 Views 0 comment Print

ACIT Vs Ms Arihant Trading Co. Pahari (ITAT Jaipur) On perusal of sub-section (6) of section 194C, it is clear that all that is required for non-deduction of TDS on payment to the transporter is that the latter furnishes his PAN number to the person responsible for paying or crediting the amount to him. The […]

Cases of substantial cash deposit during demonetisation period- Reg.

March 19, 2019 4137 Views 0 comment Print

Functionality for viewing information related to Cases of substantial cash deposit during the demonetisation period in which notice under section 142(1) of the I. T. Act has remained non-complied

HC should not dismiss appeal for delay in filing when similar issue is pending before HC for earlier A.Y

March 19, 2019 468 Views 0 comment Print

Supreme Court allows appeal, criticizes High Court’s technical view on delay. Directs consideration on merits due to pending similar issue in the High Court.

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