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Archive: 14 April 2019

Posts in 14 April 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.

LTCG tax payable on Transfer of client relationship & goodwill by CA firm

April 14, 2019 4725 Views 0 comment Print

M/s. J.C. Bhalla & Co. Vs Addl. CIT (ITAT Delhi) Conclusion: Assessee-firm was entitled to claim deduction claim under Section 54EC as assessee had made an investment in the specified bonds and capital gain had arisen to the assessee from transfer of client relationship and goodwill which was long-term capital asset under section 2(14) chargeable […]

No limitation on amount of premium that can be charged on Share Capital: SC

April 14, 2019 2190 Views 0 comment Print

PCIT Vs Chain House International (P) Ltd (Supreme Court of India) In this case Supreme Court upheld the Judgment of Madhya Pradesh High Court. Madhya Pradesh High Court held that The question raised by the revenue in regard to issuing the share at a premium is purely a question of fact. It is a prerogative […]

No tax on Retirement compensation from Partnership firm based on revaluation of Assets

April 14, 2019 11871 Views 0 comment Print

Retiring partners did not acquire any right in the revalued property and what they got on retirement was only money equivalent to enhanced portion of the assets re-valued which did not constitute capital asset under section 2(14) and payment of the said money by assessee-firm to retiring partners could not give rise to capital gain under section 45(4) read with section 2(14).

Detailed Analysis of Companies (Acceptance of Deposits) Amendment Rules, 2019

April 14, 2019 6054 Views 3 comments Print

Deposit Under Companies Act, 2013 Detailed Analysis of Companies (Acceptance of Deposits) Amendment Rules, 2019 – Effective Date: from the date of publication of the notification in the official Gazette 22.01.2019 Which types of Company required filing: All Company (Private, Public, OPC, Small Company) Exemptions from filing:  Government Company Period of Reporting: One-time Reporting w.e.f […]

We Only Responsible

April 14, 2019 3060 Views 0 comment Print

We only are responsible for our own acts and deeds. It is an old age human tendency that when we face failure in any aspect of life we blame others for that and when we succeed, we only remember our own efforts and nothing else. Have we ever thought why this was happened? Why can’t […]

Landmark Judgements on Works Contract in Prior Tax Regime & GST

April 14, 2019 18849 Views 3 comments Print

 The Goods and Service Tax Act, 2017 (GST) is the most ambitious, stronger and best decision of recent government. Through GST Legislation, we have sub-merge 17 taxation laws into one GST. The concept of One Tax One Nation to some extent fulfilled with the implementation of GST. The mute matter is that we have find […]

No GST on Interest Free Security Deposit & Notional Interest: AAAR, Maharashtra

April 14, 2019 7242 Views 0 comment Print

Levy of GST on Interest Free Security Deposit and Notional Interest was put in front of AAAR, Maharashtra. The appellate authority held that the definition of consideration is inclusive and the consideration may be in cash or kind. The payment received towards Interest Free Security Deposit will not be treated as consideration

Standard Accounting Protocol for Reconciliation of GST Returns with Books of Accounts

April 14, 2019 10710 Views 2 comments Print

A STANDARD ACCOUNTING PROTOCOL FOR RECONCILIATION OF GST RETURNS WITH BOOKS OF ACCOUNTS With The advent of GST in INDIA, one of Fastest Growing yet among LARGEST Economies of the globe, the destiny of Accounting Framework was set to be changed to bring in more transparency and thereby adoption of more detailed accounting practices. The […]

GST on transfer of Development Right on or after 01/04/2019

April 14, 2019 26241 Views 4 comments Print

Service by way of transfer of development rights or Floor Space Index (FSI) on or after 1st April, 2019 for construction of residential apartments by a promoter in a project, intended for sale to a buyer, wholly or partly, where the entire consideration has been received before issuance of completion certificate or its first occupation, […]

Time limits for uploading old pending appeals/disposals In ITBA

April 14, 2019 1248 Views 0 comment Print

Time limits for uploading old pending appeals/disposals and current disposals made during FY 2018-19 In Appeals module of ITBA-reg. Appeals module of ITBA was rolled out in June 2015 and since then incessant efforts have been made to upload and bring all the pending appeals in the system.

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