"25 September 2019" Archive

Presumptive taxation U/s. 44AD, 44ADA, 44AE

To give relief to small taxpayers from the tedious job of maintenance of books of account and from getting the accounts audited, the Income-tax Act has framed the presumptive taxation scheme under sections 44AD, section 44ADA and section 44AE. In this part you can gain knowledge about various provisions of the presumptive taxation scheme ...

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Aaykar Seva Kendra

Aaykar Seva Kendra (ASK) is A multi-faceted mechanism for achieving excellence in public service delivery reflecting the Service Quality policy of the Income Tax Department....

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Posted Under: Income Tax |

No approval taken from Ministry of law in NCLT member appointment vacancy advertisement

A-44/50/2019-Ad.IV (25/09/2019)

A-44/50/2019-Ad.IV Government of India Ministry of Corporate Affairs 5′ Floor, ‘A’ Wing, Shastri Bhawan Dr. R. P. Road, New Delhi-110001 Date: 25 Sept, 2019 To. Shri Nipun Singhvi, 111-112 University Plaza, Above Chocolate Room, Vinjay Cross Roads, Ahmedabad-380009 Subject- Information sought under the Right to Informati...

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Taxation Laws (Amendment) Ordinance, 2019 – Analysis

The, TAXATION LAWS (AMENDMENT) ORDINANCE, 2019 (hereinafter 'Ordinance'), is an ordinance to further amend the Income-tax Act, 1961 and the Finance (No.2) Act, 2019. Since the parliament is not in session and the President of India is satisfied that circumstances exist which render it necessary for him to take immediate action, this Ordin...

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Posted Under: Income Tax |

Allotment of Securities by Company- Relevant Provisions

Q.1 WHAT ARE THE PROVISIONS OF COMPANIES ACT RELATED TO ALLOTMENT OF SECURITIES? (1) No allotment of any securities of a company offered to the public for subscription shall be made unless the amount stated in the prospectus as the minimum amount has been subscribed and the sums payable on application for the amount so […]...

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Posted Under: Income Tax |

TDS – How to Meet your obligations (Deductor)

WHAT IS TDS/TCS? In case of certain prescribed payments (e. g. Interest, commission, brokerage, rent, etc.) the person making payment is required to deduct tax at source (TDS) at prescribe rate. Payer is known as deductor and the payee, who receives the net payment is called the deductee. TCS is Tax Collected at Source by […]...

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Posted Under: Income Tax |

Provisions of Short Term Capital Gain with examples

Gain arising on transfer of capital asset is charged to tax under the head Capital Gains. Income from capital gains is classified as Short Term Capital Gains and Long Term Capital Gains. In this part you can gain knowledge about the provisions relating to tax on Short Term Capital Gains....

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Posted Under: Income Tax |

Carry Forward and Set Off of Losses with FAQs

Article covers Income Tax Act provisions related to Carry Forward and Set Off of Losses with Frequently asked Question and Answers.Loss from exempted source of income cannot be adjusted against taxable income...

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Posted Under: Income Tax |

GST on service to Govt related to road construction & irrigation

In re Sumitabha Ray (GST AAR West Bengal)

In re Sumitabha Ray (GST AAR West Bengal) Whether service to Govt relating road construction and irrigation is exempt supply? The Applicant is providing pure service to the State Governments in relation to the projects described in para nos. 3.10 and 3.12 above. The projects involve functions entrusted to a Panchayat or a Municipality und...

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Standalone service of arranging accommodation in a hotel- ITC & Classification

In re Golden Vacations Tours and Travels (GST AAR West Bangel)

In re Golden Vacations Tours and Travels (GST AAR West Bangel) What is the classification of the standalone service of arranging accommodation in a hotel and is input tax credit admissible? The Applicant is admittedly a tour operator. But the question on which the advance ruling is sought is whether it should continue to be […]...

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