Since no incriminating material was unearthed by AO during the course of search operation under section 132, therefore no addition could be made during the relevant assessment year under section 153A by reopening the assessment on the matter, which was examined earlier during original assessment.
The Indian Real Estate is now experiencing rising transparency and discipline in property dealings . In 2013-18, residential property price appreciation in India bottomed out to a mere 12 percent – which effectively worked out to a little over 2 percent annually, even for properties at prime locations. In the unorganised real estate, the drop […]
OPC (ONE PERSON COMPANY) AS Per Section 2(62) of Companies Act 2013, OPC as A Company Which Has Only one person as a member. NATURE OF OPC OPC can only registered as a Private Company. Which means that all provisions Applicable to Private Company will be applicable to OPC . WHO CAN INCORPORATE OPC ? […]
TDS/ TCS taxpayers & Temp ID holder can now add Bank Account details through Non-Core Amendment of Registration. This will enable them to file refund application on GST Portal.
ICAI GUIDANCE NOTE ON DIVISION II-IND AS SCHEDULE III TO THE COMPANIES ACT, 2013 (Revised July 2019 Edition) The Government is bringing out several changes in the Companies Act, 2013 from time to time to enhance transparency by way of mandating additional disclosures. Towards the same, the Ministry for Corporate Affairs has issued a Notification […]
ICAI GUIDANCE NOTE ON DIVISION I-NON IND AS SCHEDULE III TO THE COMPANIES ACT, 2013 (Revised July 2019 Edition) The Division I to the Schedule III of the Companies Act, 2013 lays down the format for preparation of the financial statements by the Companies that are required to comply with Companies (Accounting Standards), Rules, 2006, […]
Will the new Finance Minister cut tax rate for large companies from the current 30 per cent to 25 per cent in the budget 2019 The first full time woman Finance Minister (FM) will present her maiden budget on 5th of July, 2019. All the people of the country look forward to the FM as a […]
Summary of Various GST Returns & Due dates in July 2019 10 JULY 2019 – GSTR 8 TDS & TCS Return under GST 11 JULY 2019- GSTR-1 for June’19 (Monthly Return) Fot Taxpayer having turnover of more than Rs 1.50 Cr or or opted to file monthly Return 13 JULY 2019- GSTR-6 Every Input […]
Economic Survey says its theme is about enabling a shifting of gears, “to achieve the objective of becoming USD 5 trillion economy by 2024-25, as laid down by the Prime Minister. It says, for this India needs to sustain a real GDP growth rate of 8%
Economic Survey 2018-19: General Government (Centre plus States) has been on the path of fiscal consolidation. Economy expected to grow at 6.8 per cent in 2018-19. Fiscal Deficit of 3% of GDP by FY2020-21 & Central Government debt to 40% of GDP by 2024-25 Targeted. Improving Quality of Expenditure is key Priority; Broadening and Deepening the Direct Tax base and Stabilization of Goods and Services Tax are the Other Priorities. Total Transfers to States rose by 1.2 %age points of GDP from 2014-15 to 2018-19 RE.
