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Archive: 05 August 2019

Posts in 05 August 2019

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 51 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7389 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Section 194N – TDS on Cash Withdrawals

August 5, 2019 28815 Views 1 comment Print

While introducing the new applicability of TDS levy on cash withdrawals under newly inserted Section 194N, the Finance Minister Shri Nirmala Sitharam in her budget speech elaborated that the Government has taken a number of initiatives for promotion of the digital payments and less cash economy. She stated that to promote the digital payment and […]

New Functionality on Form GST ITC-04 and for GST Practitioners

August 5, 2019 2613 Views 0 comment Print

A. FORM GST ITC-04 To furnish details of the goods/ capital goods sent to job worker and received back or supplied from the premises of the job worker. The format of the GST ITC-04, as amended vide Notification No. 39/2018–Central Tax, dated 04-09-2018, has been made available on the GST Portal. B. UPDATE FOR GST PRACTITIONERS […]

Processing of I.T. returns with refund beyond prescribed time limits in non-scrutiny cases

August 5, 2019 6423 Views 0 comment Print

(a) returns filed for any assessment year prior to assessment year 2017-18, which were under scrutiny and were not processed in view of provisions of sub-section (1D) of section 143 of the Act; (b) returns remain unprocessed, where either demand is shown as payable in the return or is likely to arise after processing it; (c) returns remain unprocessed for any reason attributable to the assessee.

Article 370 scrapped: Constitution (Application to Jammu and Kashmir) Order, 2019

August 5, 2019 2712 Views 0 comment Print

(1) This Order may be called the Constitution (Application to Jammu and Kashmir) Order, 2019. (2) It shall come into force at once, and shall thereupon supersede the Constitution (Application to Jammu and Kashmir) Order, 1954 as amended from time to time.

Implication of Amendment in Article 370 on Income Tax Act & GST Act

August 5, 2019 9528 Views 0 comment Print

Is the Constitutional Amendment in Article 370 of the Constitution of India has any Implications on Income Tax Act & GST Act? 1. Background: On 5 August 2019, the Hon’ble Union Home Minister Sh. Amit Shah has moved a resolution to amend Article 370 of the Constitution of India in the Rajya Sabha, so as to […]

Know the Facts Before You Buy a Term Life Insurance

August 5, 2019 1436 Views 0 comment Print

Here are some facts that everyone needs to consider before opting for a term life insurance.

Settled Law of Deemed Dividend Again Unsettled

August 5, 2019 6432 Views 0 comment Print

The Income Tax Act, 1961 contains various provisions either expressly or impliedly. There are many deeming fiction provisions in the Act viz. section 50C, 43CA, 56(2)(x), etc. One such section is section 2(22)(e) of the Act which provides that an amount of loan or advance given to a shareholder directly or indirectly shall be treated as dividend in the hands of the shareholder except under certain circumstances as laid down in the provision.

Corporate Social Responsibility [From discretionary to disciplinary]

August 5, 2019 3132 Views 0 comment Print

With the Corporate Social Responsibility (CSR), Companies are able to develop their own social investment strategies and decide where to invest and implement programs, but the government has recommended particular areas of need, including eradicating hunger and poverty, maternal and child health, promoting gender equality and environmental sustainability etc.

SC on who is liable to pay Costs of interim resolution professional

August 5, 2019 6444 Views 0 comment Print

S3 Electricals and Electronics Private Limited Vs Brian Lau & Anr. (Supreme Court of India) A bare reading of Regulation 33(3) indicates that the applicant is to bear expenses incurred by the RP, which shall then be reimbursed by the Committee of Creditors to the extent such expenses are ratified. We are informed that, in […]

The Chit Funds (Amendment) Bill, 2019 Introduced in Lok Sabha

August 5, 2019 1419 Views 0 comment Print

THE CHIT FUNDS (AMENDMENT) BILL, 2019- A BILL further to amend the Chit Funds Act, 1982. BE it enacted by Parliament in the Seventieth Year of the Republic of India as follows:—

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