CBDT notifies Bangalore Water Supply and Sewerage Board for exemption U/s. 10(46) of Income Tax Act, 1961 vide Notification No. 56/2019 dated 2nd August, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 56/2019 New Delhi, the 2nd August, 2019 S.O. 2782(E).—In exercise of the powers conferred by clause (46) […]
Article covers TDS provisions under Section under Section 194LB – Income by way of interest from Infrastructure Debt Fund,Section 194LBA – Certain Income from units of business trust, Section 194LBB – Income in respect of units of the investment fund and Section 194LBC – Income in respect of investment in securitization trust. Section 194LB – […]
Reflection of input tax credit in electronic credit ledger does not amount to availment or utilization of credit- Patna HC Issue under consideration As per section 73 of CGST Act, 2017 if it is found that an assessee has wrongly availed or utilized input tax credit then the proper officer shall issue a show cause […]
The accused and their associates were found to be operating 19 fake firms created to facilitate fraudulent Input Tax Credit (ITC), thus defrauding the Exchequer. Prima facie fraudulent ITC of about Rs 25 crores has been detected to have been passed on using invoices involving an amount of Rs 137 crores.
Hello friends, greetings for the day in the current article we will discuss about the newly launched ‘e-filing lite’ for the sole purpose of hassle free return filing as quickly as possible Introduction As we know the last date for return filing of certain section of taxpayers has been extended from 31st July to 31st […]
Generation of SCORES user id and password has been automated for all new SEBI registered intermediaries. This has been done to streamline the process of providing SCORES credentials in the interest of investors.
Companies Amendment Act, 2019– Section 135: Corporate Social Responsibility (CSR) – In-depth Analysis Section 135 has been amended with respect to spending of CSR amount by companies, transfer of unspent amount, penal provisions and power to CG to issue directions. Amendment: Clause (a) in sub-section (5), — (i) after the words “three immediately preceding financial years,”, […]
Yashdeep Singh Saini Vs Naya Raipur Development Authority (Chhattisgarh High Court) At the first instance, it will show that the petitioners’ land were acquired by the respondents. It has to be born in mind that the said acquisition was not as like of a general contract of a sale & purchase on free will of […]
As per section 50(1) of CGST Act 2017, every person who is liable to pay tax in accordance with the provisions of this act or rules made thereunder but fails to pay tax or any part thereof to the government within the prescribed time then he shall for the period for which the tax or any part thereof remains unpaid, pay on his own “Interest at such rate” not exceeding eighteen per cent as may be notified by the government on the recommendation of the council.
E-Tender for Appointment of Concurrent Auditors for the year 2019-20 w.e.f. October 01, 2019 to September 30, 2020 by Reserve Bank of India, HRMD, CO cluster and CSBD, CO.
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