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Archive: 07 January 2020

Posts in 07 January 2020

Section 80C Deduction for tuition / school / education fees

January 7, 2020 2755425 Views 589 comments Print

Explore Section 80C Deduction for tuition fees in India. Learn eligibility criteria, maximum limits, and FAQs to optimize tax benefits for education expenses.

Change in Rules to Appoint Whole Time CS & Secretarial Audit

January 7, 2020 3324 Views 0 comment Print

Change in Rules for Appointment of Whole Time Company Secretary and Scope of Secretarial Audit MCA with vide notification dated January 03, 2019 has amended Rule 8A and 9 of  Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 regarding Appointment of Whole Time Company Secretary and Scope of Secretarial Audit for Companies. The Amended […]

In absence of principal agent relationship TDS not deductible on bank guarantee commission 

January 7, 2020 1521 Views 0 comment Print

NKC Projects (P) Ltd. Vs DCIT (ITAT Delhi) It could be seen from the assessment order that while dealing with the issue of allowability of the bank guarantee commission, learned Assessing Officer held that on identical facts in assessee’s own case for the assessment year 2011-12 an addition under section 40(a)(ia) of the Act was […]

Builder denied benefit of ITC to buyers of flats and shops: NAA

January 7, 2020 2106 Views 0 comment Print

Smt. Shubhra Vipin Gajbhiye Vs Pyramid Arcades Pvt. Ltd (National Anti-Profiteering Authority) It is established from the perusal of the above facts that the Respondent has benefited from the additional ITC to the extent of 4.52% of the turnover during the period from July, 2017 to December, 2018 and hence the provisions of Section 171 of […]

Fabrication of body building on Tippers, Trailers classifiable under SAC 998881

January 7, 2020 5124 Views 0 comment Print

The activity of fabrication of body building on Tippers, Trailers etc., merits classification under SAC 998881, under ‘Motor vehicle and trailer manufacturing services’, in terms of Sl.No. 535 of Annexure to Notification No. 11/ 2017-Central Tax (Rate) dated 28.06.2017.

Loss from Forfeiture of advance against Convertible Warrants held as stock in trade is Business Loss

January 7, 2020 1554 Views 0 comment Print

Lustre Merchants Pvt. Ltd. Vs DCIT (ITAT Delhi) The only dispute in the instant appeal is regarding the treatment of the loss on account of forfeiture of share application money amounting to Rs. 41,61,000/- as business loss or capital loss. While the loss is not in dispute, according to the assessee it is a business […]

GST on ‘Reagents’ used for laboratory testing of water samples- AAR application withdrawn

January 7, 2020 2268 Views 0 comment Print

In re HACH DHR India Pvt. Ltd. (GST AAR Karnataka) Whether the applicants are correct in contending that the ‘Reagents’ used by the applicant for laboratory testing of water samples should be classified under Sl. No.80 of the IGST schedule-II at 12% under IGST Notification No.1/2017-Integrated Tax (Rate) dated 28.06.2017? But the Applicant requested to […]

Registration of Charitable or Religious Trusts

January 7, 2020 23286 Views 1 comment Print

Learn about the new rules and application process for the registration of charitable or religious trusts. Stay updated with the latest amendments.

Key Points of E-Invoices Under GST

January 7, 2020 6711 Views 0 comment Print

E-invoicing will be mandatory from 01-04-20 for businesses having Aggregate Turnover exceeding Rs 100 Crore. It will start on voluntary basis from 01-01-20 if Aggregate Turnover is exceeding Rs 500 Crore. it will start on voluntary basis from 01-02-20 if Aggregate Turnover is exceeding Rs 100 Crore.

Join Online GST & Income tax Certification Courses

January 7, 2020 156327 Views 29 comments Print

TaxGuru Edu, an educational wing of Taxguru bring you the best in class Online Certification Courses on GST and Income tax. Learn taxes in a Practical way and become an Expert in this field.  Online Certification Course on Income Tax – Batch 2 The Online Income Tax Course covers major aspects of Income Tax Law […]

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