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Archive: 22 January 2020

Posts in 22 January 2020

What are the capital gain tax benefits by listing on SME Platforms?

January 22, 2020 4500 Views 0 comment Print

By listing on recognized SME exchange a company can avail numerous benefits under the Income Tax Act. An SME entrepreneur or investor can avail tax benefit on the transfer of shares of a listed company, which ultimately results in enormous tax savings.

Registration of Charges Under Companies Act

January 22, 2020 74799 Views 2 comments Print

As consistent with Companies Act, corporations are required to file particulars of a charge within 30 days of the creation thereof; or else the charge is void against the liquidators and the creditors of the corporation.

Applicability of GSTR 10 & Late Fees In CMP-08- Practical Issues

January 22, 2020 33018 Views 8 comments Print

Practical Issues For Composition Scheme– Applicability of GSTR 10 And Applicability of Late Fees In CMP – 08 In this article author tries to clarify on the issues regarding applicability of GSTR 10 on the taxable person who opt for paying tax u/s 10 of CGST Act and also about the applicability of Late Fees […]

Faceless E-Assessment: Procedures, Difficulties & Role of Professional

January 22, 2020 5604 Views 0 comment Print

The income tax department on October 7, 2019 launched its faceless e-assessment scheme for taxpayers. Under the scheme, there would be no physical interface between an assessing officer and an Assessee. The plan was first introduced in the Union Budget 2019 by finance minister Nirmala Sitharaman. Sitharaman told the parliament that the existing system of scrutiny assessments […]

Section 234E Late Fee for default in filing of TDS / TCS returns

January 22, 2020 57138 Views 2 comments Print

Avoid penalties for late filing of TDS / TCS returns. Learn about section 234E of the Income Tax Act and the prescribed due dates.

FAQs on Company registration in India

January 22, 2020 7134 Views 5 comments Print

Q1) What is Company ? Ans: According to the Companies Act, 1956, a Company is an association of people which is formed and registered under this Act or any previous company laws. A company is a separate legal entity which is different from its shareholders. It is an important feature of Company that there is a […]

FAQs on LLP formation in India

January 22, 2020 3114 Views 1 comment Print

There are many questions that might be arising while you want to register your LLP. Here we have made a compilation of the Most Frequently Asked questions. Q1) What is the full form of LLP? Ans. The full form of LLP is a Limited Liability Partnership. Q2) What is Limited Liability Partnership? Ans. LLP is an alternative […]

No Provision in IBC mandating that Resolution Plan Should Match Liquidation Value

January 22, 2020 4275 Views 0 comment Print

Maharasthra Seamless Limited Vs Padmanabhan Venkatesh & Ors. (Supreme Court) No Provision in IBC, 2016 which mandated that That Resolution Plan Should Match Liquidation Value No provision in Insolvency and Bankruptcy Code, 2016 or Regulations has been brought to our notice under which the bid of any Resolution Applicant has to match liquidation value arrived […]

HC allows filing of Appeal on payment of Rs. 2 Lakh instead of 20% of demand

January 22, 2020 1323 Views 0 comment Print

Suresh Anuradha Vs CIT (Madras High Court) In the given case, the second respondent has demanded the petitioner to pay a sum equivalent to 20% of levied tax on or before 17.01.2020 for entertaining the appeal and stay petition under Section 220(6) of Income Tax Act 1961. Earlier, an assessment order was passed on 11.12.2009 […]

No Service Tax on Membership Fees paid by Member to Club/Association

January 22, 2020 4956 Views 0 comment Print

The same issue has been dealt by the Honble Gujarat High Court in the case of Federation of Surat Textile Traders Association vs. UOI [2017 (52) STR 478 (Gujarat)] and in the case of Calcutta Club Limited (supra) wherein it has been held that the services provided by the assessee to its members is not liable to pay service tax.

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