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Archive: 12 May 2019

Posts in 12 May 2019

Changes in ITR Forms Applicable For AY 2019-2020

May 12, 2019 7857 Views 3 comments Print

Stay updated on the changes in ITR forms applicable for AY 2019-2020. Know the new requirements of each form and file your income tax returns hassle-free.

Taxability of gifts received by an individual

May 12, 2019 21414 Views 0 comment Print

In this article, we will emphasis on the applicability of income tax laws on the gifts (movable or immovable) received by an individual from any person.

IGST Refund cannot be denied on account of Technical Glitches

May 12, 2019 4662 Views 0 comment Print

Vsg Exports Pvt Ltd Vs. Commissioner of Customs (Madras High Court) Facts Refund of Integrated Tax (IGST) paid on the goods exported out of India. Since the respondents did not refund the IGST amount, the Writ Petition was filed. According to the petitioner, they have claimed lower rate drawback as per Notification 131/2016(NT) , dated […]

Do not levy Penalty for GST system problem due to design limitation: HC

May 12, 2019 1620 Views 0 comment Print

Clix Capital Services (P.) Ltd. Vs Union of India (Delhi High Court) It is submitted by learned counsel for the petitioner that further to the previous directions, the Form GSTR-3B filed manually has since been processed and the notional demand in respect of Rs.16.80 crores has been reversed. It is submitted that in these circumstances, […]

Income Tax, GST, Company Law, LLP Compliance Manual for F.Y.2019-20

May 12, 2019 7626 Views 4 comments Print

This compliance book aims at helping and providing practical solutions and day to day compliance requirements to professionals, entrepreneurs and all small to large businesses as it has summarized provisions, charts and important notes with tables which can be easily understood. Compliance Hand Book contains the following- Income Tax- Income Tax Rates,  TDS Rate Chart, […]

Class Action Suits via NCLT (Second Amendment) Rules, 2019

May 12, 2019 6345 Views 1 comment Print

Central Government dictates details of Class Action Suits via National Company Law Tribunal (Second Amendment) Rules, 2019 Background At the time of Satyam scam, the Indian investors, as opposed to their counterparts in USA, could not file litigations against the fraudulent company. Owing to the peculiarity of weighty financial scam of Satyam in 2009, the […]

New Form-16 Generator with Auto tax Calculator & Salary Statement

May 12, 2019 183201 Views 11 comments Print

Download Latest Form-16 (New Format) Generator with Auto tax Calculator and Salary Statement  The CBDT has notified a new format for form-16 vide Income Tax notification No. 36/2019 dated 12/04/2019. The Income Tax department has made many new changes in format of Form-16 – the salary TDS certificate, requiring a detailed break-up of salary, tax exempted allowances paid […]

GST: How to File Reply during General Penalty Proceedings u/s 125

May 12, 2019 43980 Views 0 comment Print

A. FAQs on Filing Reply or Taking Actions during General Penalty Proceedings u/s 125 of Central Goods & Services Tax Act, 2017. General Penalty: Q.1 When can a General Penalty be imposed on a taxable person? Ans: General Penalty can be imposed under Section 125 on a taxable person, when he/she contravenes any provisions of […]

All types of ITC Forms under GST – CRUX

May 12, 2019 54645 Views 2 comments Print

In this article you will get to know about all the 4 Types of ITC Forms available at GST Portal in brief and will help to get a clear understanding about them by reading CRUX. There are 4 types of ITC Forms, which are as follows:- ♣ ITC 01 – ITC for new GST Registration […]

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