HOW TO CALCULATE AGRICULTURAL INCOME (AY 2019-20) EXAMPLE 1 : AGRICULTURAL INCOME = 300000 BUSINESS INCOME = 500000 WORKINGS STEP 1 : TAX ON INCOME INCLUDING AGRICULTURE = 800000 FIRST 250000 = NIL SECOND 250000= 12500 (250000*5%) BALANCE 300000=60000 (300000*20%) TOTAL TAX = 72500 (12500+60000) STEP 2 : TAX ON AGRICULTURAL INCOME = 300000 ADD […]
Any amount transferred to Unpaid Dividend Account of the Company, which is unpaid or unclaimed for more Seven Years shall be transferred along with interest accrued, to Investor Education & Protection Fund. (IEPF) and the company shall send a statement in Form IEPF-1 the details of such transfer to the authority which administers the said Fund and […]
As per section 44 read with proviso Rule 80(1) of CGST Act and Rules, Every taxable person(Who choose to pay tax under Composition under Sec.10 of CGST Act,2017) shall furnish the annual return in FORM GSTR- 9A. For the Financial Year 2017-18 to be filled on or before 30th June, 2019 as per Order No. 3/2018- Central Tax-Dated. 31st December, 2018. The New Form of GSTR-9A has been amended vide Notification No. 74/2018-Central Tax-Dated.31st December,2018.
Madan Tiwari Vs State of Chhattisgarh (Chhattisgarh High Court) Purport of the special law under the Negotiable Instruments Act is to ensure that the promise to pay is abided by the person so promising. The provision under Section 139 of the NI Act is that it shall be presumed that the holder of a cheque […]
The main plea of assessee was that because of multiplity of proceedings going on before different authorities filing of captioned appeal was delayed. The AR for the assessee had filed before ITAT an events chart of various assessment proceedings / appellate proceedings between the period 28.12.2007 to 21.05.2015, on which date the appeal was filed before the Tribunal.
Real Estate is an important part of the economy and is accountable for extensive part of its development investment, advancement of the nation’s infrastructure. The taxation of the real estate segment has also been challenging and litigated in many aspects. There are many open issues in relation to the determination of point of taxation and valuation under both direct and indirect taxes.
Audit under GST is the examination of records, returns and other documents maintained by a registered dealer. The aim is to verify the correctness of Turnover declared, Taxes paid, Refund claimed and input Tax Credit availed by an assessed as per provisions under GST along with is to assess the auditee’s compliance with the provision of GST Act and Rules.
1. What is Joint Development Agreement (JDA)? • This is an arrangement between an owner of the land and a builder where the land owner contributes the land and the developer undertakes the responsibility of obtaining approvals, property development, launching and marketing the project with the help of his financial resources. • As beneficial it […]
M/s. Neuvera Wellness Ventures Pvt Ltd Vs State of Gujarat (Gujarat High Court) The impugned order dated 2.4.2019 passed by the second respondent (Annexure-H to the petition) is hereby quashed and set aside. The matter is restored to the file of the second respondent who shall decide the same afresh in accordance with law after giving […]
Delay of 253 days in filing appeal before CIT(A) due to extraordinary situation such as facing of marital dispute by his daughter, demise of the mother could not be considered when assessee was carrying on the commercial activities/business during the relevant period.
