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Archive: 08 August 2019

Posts in 08 August 2019

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

May 24, 2024 1173 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 7698 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.

Time to Revisit Conventional Coercive Tax Recovery Measures

August 8, 2019 1836 Views 2 comments Print

Explore the flaws in conventional coercive tax recovery measures. This in-depth analysis highlights the need for a fresh approach to tax collection in our country.

Section 54B Deduction cannot be denied if AO not conducted any enquiry about use of land for Agriculture

August 8, 2019 1365 Views 0 comment Print

ITO Vs Mukesh Champaklal Shah (ITAT Pune) The definition of capital asset excludes agricultural land and certain criteria have been placed in this statue to qualify the land as agricultural land. The facts on records demonstrate that both the parties have accepted the land to be an agricultural land. The 7/12 extracts clearly demonstrates the […]

19 FAQs on filling of ITR forms for Assessment Year 2019-20

August 8, 2019 31680 Views 5 comments Print

After notification of the ITR forms various queries have been raised by the stakeholders in respect of filling-up of the ITR forms. In order to address such queries, following clarifications are issued. —

CBDT Enhances Monetary limits for filing of Income Tax appeals

August 8, 2019 60549 Views 0 comment Print

CBDT Further Enhances Monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/appeals before Supreme Court – Amendment to Circular 3 of 2018 – Measures for reducing litigation.

Applicability of AIRs to calculate Brand Rate of duty drawback in GST regime

August 8, 2019 1797 Views 0 comment Print

Clarification regarding applicability of All Industry Rates of duty drawback while fixing Brand Rate of duty drawback in post GST era. Circular No. 24/2019-Customs

Empanelment – Allahabad Bank – Concurrent / Revenue Audit

August 8, 2019 80412 Views 0 comment Print

Allahabad Bank invites applications in prescribed format from practicing firms of Chartered Accountants of India who are willing to empanelled as Concurrent / Revenue Auditor

LTCG under Grandfathering Provisions

August 8, 2019 225741 Views 14 comments Print

The Finance Bill 2018 reintroduced tax on LTCG made from listed shares and equity-oriented mutual funds. With Effective 1 April 2018, LTCG arising from the sale of these shares and equity oriented funds that are held for more than 12 months are taxable at the rate of 10% if such LTCG exceeds Rs.1 lakh in the given Financial […]

Income Tax Returns (ITRs)-Forms, Due Dates and Late Fees

August 8, 2019 30855 Views 1 comment Print

The last date for filing Income Tax Return is July 31st of every year (Extended up to 31st August 2019 for Assessment Year 2019-2020 and with few certain exceptions as provided above), which can be belatedly filed up to March 31. For example, Income Tax Returns for  Assessment Year 2019-20 (Financial Year 2018-2019), can be filed belatedly till 31st March 2020.

Denial of deduction u/s 10(23C)(iiiad) on account of running school for profit motive

August 8, 2019 1263 Views 0 comment Print

Sharing of the profit or income under the agreement between the parties and assessee and 80% of the income was going to the commercial entities clearly established the intention of the parties in this arrangements being for profit were not solely for providing education, therefore, the benefit of Section 10(23C)(iiiad) was not available to assessee.

5 ways to plan your home loan EMIs

August 8, 2019 2760 Views 0 comment Print

If you are already an existing home loan user or applying for one soon, you must be aware that EMIs consume a large portion of your earnings. You have to manage these EMIs well before even signing the agreement. You should ensure the EMIs do not dent your expenses. Therefore, lenders have the home loan […]

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