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Archive: 04 February 2020

Posts in 04 February 2020

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices?

April 29, 2024 7275 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Join Live Webinar and get Book on Section 43B(h)

April 29, 2024 5121 Views 1 comment Print

Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down intricacies of Section 43B(h)

Union Budget 2020-21: Analysis of Direct Tax Proposals

February 4, 2020 45129 Views 5 comments Print

In the backdrop of the economic slowdown, the Hon’ble Finance Minister has presented the 2020 Union Budget. However, the budget does not live up to the expectations of the various stakeholders. The largesse shown to the corporate sector, by the Taxation Laws (Amendment) Act, 2019, has not been followed up with any concession to individual taxpayers, which could have given a fillip to the consumer spending and a much need boost to the economy. It has been seen not only in India, but globally, that the individual, honest citizens tend to lose out against the power and the nexus of the corporate sector.

Unless insured is duly informed, exclusionary clauses not applicable: SC

February 4, 2020 2370 Views 0 comment Print

In this case the Supreme Court of India in one of its judgements in a case involving Insurance Claim has held that unless the insured is duly informed, Exclusionary Clauses will not be applicable.

Right of being Represented in a Court is a Fundamental Right

February 4, 2020 5685 Views 0 comment Print

Know your rights! Learn about the fundamental right of being represented in a court under Article 21 of the Constitution.

Section 271CA Penalty for failure to collect tax at source (TCS)

February 4, 2020 29706 Views 0 comment Print

Understand the penalty for failure to collect tax at source (TCS) as per section 271CA of the Income Tax Act. Learn how to avoid this penalty and the amount payable.

Budget 2020 –A Step Towards Rationalization-Key Highlights

February 4, 2020 2034 Views 0 comment Print

1. Start-ups – The existing provisions of section 80-IAC of the Act provide for a deduction of an amount equal to one hundred per cent of the profits and gains derived from an eligible business by an eligible start-up for three consecutive assessment years out of seven years, at the option of the assessee, subject […]

E-way bill for a consignment of value < 50K for multiple invoices in the same conveyance

February 4, 2020 31269 Views 0 comment Print

Bon Cargos Private Ltd. Vs Union of India (Kerala High Court) The High Court held that it is the duty of the transporter or the consignor, consignee to generate e-way bill when the aggregate value of the consignment is more than Rs. 50,000/- and if otherwise ie., less than Rs.50,000/- there is no such requirement […]

The curious case of Non-GST Goods

February 4, 2020 24762 Views 3 comments Print

There are various provisions and terms in the Act where multiple interpretations are possible and all of which seems to be correct. One such issue for which no clarification has yet been received from the government is about Non-GST goods. 

Assets Reconstruction Company

February 4, 2020 14274 Views 4 comments Print

Short Note on Asset Reconstruction Company explaining Background of Assets Reconstruction Company, Meaning of Assets Reconstruction Company, Meaning of Assets Reconstruction, Objects of Assets Reconstruction Company, Registration of Assets Reconstruction Company and Functions of ARC in India. Background of Assets Reconstruction Company:- Banks are financial institutions that are engaged principally in the business of money […]

Section 15BAC- New Vs. Old Tax Regime for individuals and HUFs

February 4, 2020 15270 Views 1 comment Print

NEW TAX REGIME [SECTION 115BAC] – In Finance Bill, 2020 a new section 115BAC has been inserted to provide concessional slab rate of tax for individuals and HUFs. Further, this section is optional and option has to be exercised on or before the due date of filing return. However, to avail the benefit of concessional […]

PFRDA (Pension Fund) (Second Amendment) Regulations, 2020

February 4, 2020 1017 Views 0 comment Print

1. These regulations may be called the Pension Fund Regulatory and Development Authority (Pension Fund) (Second Amendment) Regulations, 2020. 2. These shall come into force on the date of their publication in the official gazette.

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