"13 May 2019" Archive

GST Rates applicable for Hotel Accommodation and Restaurants

We all know that GST rates for restaurant, eating joint including mess, canteen, whether for consumption on or away from the premises where such food or any other article for human consumption or drink is supplied, other than those located in the premises of hotels, inns, guest houses, clubs, campsites or other commercial places meant fo...

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Clarification for form ADT-1 filed through GNL-2

General Circular No. 06/2019 (13/05/2019)

Companies which had filed Form no. ADT-1 through GNI,-2 as an attachment (by selecting 'others') during the period from 01.04.2014 to 20.10.2014 may file e-form no. ADT- 1 for appointment of Auditor for the period upto 31.03.2019 without fee, till 15.06.2019....

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e-TDS/TCS Return Preparation / File Validation Utility wef 12.05.2019

As per the Income Tax Department notification 36/2019 dated April 12 2019, the new format to furnish the Form 24Q Quarter 4 statement is applicable with effect from May 12, 2019 onwards. Please download the new version of RPU and FVU to prepare and validate the e-TDS statements. A. e-TDS/TCS Return Preparation Utility Version 2.7 [&hellip...

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Creating, Paying Taxes & Filing of GSTR-4

FAQs > GSTR-4 1. What is Form GSTR-4? Form GSTR-4 is to be filed by taxpayers who have opted to pay tax under the composition scheme. The taxpayer is mainly required to provide summary of outward supplies, tax payable thereon etc. Such taxpayers are also required to report summary of import of services and supplies […]...

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How to compare GST Liability Declared and ITC Claimed

A. FAQs on Comparison of Liability Declared and ITC Claimed General Q. 1. From where can I compare liability declared in Form GSTR-3B and Form GSTR-1 with ITC claimed in Form GSTR-3B and as accrued in Form GSTR-2A? Ans. Navigate to Services > Returns > Returns Dashboard > Select Financial Year & Return Filing Period >...

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TDS U/s. 194IA when Consideration to each transferor not exceeds Rs. 50 lakhs

Vinod Soni Vs ITO (ITAT Delhi)

Where individual share of consideration paid towards immovable property purchase by four persons including the assessee amounted to less than Rs. 50 lakhs, the assessee was not liable to deduct tax under section 194IA of Income Tax Act, 1961 even if value of the property purchased under single sale deed was exceeding Rs. 50 lakhs....

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Disallowance U/s. 40(a)(ia) for income assessed as Income from other sources

Shri Digamber Jain Bees Panthi Ajmeri Amnay Panchayat Bada Dhada Vs ITO (ITAT Jaipur)

Shri Digamber Jain Bees Panthi Ajmeri Amnay Panchayat Bada Dhada Vs ITO (ITAT Jaipur) When the income of the assessee has been assessed under the head ‘Income from other sources’ and there is no provision U/s 56 to 58 of the Act to make a disallowance U/s 40(a)(ia) of the Act prior to the amendment […]...

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Section 54EC Count Six month from additional stamp duty payment date: ITAT

Shri Anil Kumar Dulichand Vs ACIT-17 (ITAT Mumbai)

Date of transfer of property to compute the six-months period for the purpose of claiming deduction under section 54EC could not be taken from the date when the purchase agreement was registered because the transfer would complete after additional stamp duty to complete the process of registration was paid by assessee....

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Litmus Test For Issue of A Valid Notice Under Section 148

PCIT Vs Nokia India Pvt. Ltd (Supreme Court of India)

Advocate Akhilesh Kumar Sah PCIT Vs Nokia India Pvt. Ltd (Supreme Court of India) In PCIT vs. Nokia India Pvt. Ltd. [Civil Appeal No. 3450 Of 2019 (Arising out of S.L.P.(C) No.32222 of 2017), decided on 08.04.2019], appeal was filed against the final judgment and   order   dated   21.04.2017 passed   by   […]...

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Excel with Excel – Explaining Excel from a CA viewpoint

Excel's ‘Consolidate’ feature helps in consolidating data in worksheets (located in one workbook or multiple workbooks) into one worksheet. Even though this is predominantly used at the managerial level (say, for aggregating various financial figures from multiple branches), it can come handy to the Chartered Accountants as well....

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