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Archive: 21 February 2020

Posts in 21 February 2020

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 4686 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 4119 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Is Aadhaar Becoming A Conclusive Proof For Income Tax Department Apart From PAN?

February 21, 2020 6282 Views 4 comments Print

There are discrepancies, in many cases, in respect of spellings, date of birth, phone number, address, etc. in the data of PAN and Aadhaar, it becomes practically not possible to link Aadhaar with Income tax e-return filing site in such cases.

House Property Remained Vacant – Check Out How to Calculate Your Income Tax Liability

February 21, 2020 153822 Views 14 comments Print

Income Tax Act, 1961 allows only 1 house property to be declared as Self occupied while all others are compulsorily required to be declared as rented out. In case of Property which is let out there exists a concept of Deemed Annual Value

Transportation of goods to and from India through a foreign Territory

February 21, 2020 2310 Views 0 comment Print

The transportation of goods from one part of India to another through a foreign territory was hitherto covered by the Transportation of Goods (Through Foreign Territory) Regulations, 1965. Such movements were however uncommon and the regulations were not effectively used due to absence of bilateral arrangements with neighbouring countries.

Public Provident Fund (PPF) – Tax benefit and Returns

February 21, 2020 39106 Views 21 comments Print

Eligibility – Individuals who are residents of India are eligible to open an account under the Public Provident Fund scheme. A PPF account may be opened under the name of a minor by his/her legal guardian. However, each person is eligible for only one account under his/her name.

Now is the time to attack! Start firing bullets at your taxes

February 21, 2020 10653 Views 1 comment Print

Act before March-end, so that you don’t have to regret in July! So many clients put their palms on their head, when it is the time to pay taxes and file return, in July. Taxes have already fired at them, they have done nothing to save themselves against the tax shots.

Foreign exchange loss due to currency fluctuation was not a speculation but a business loss

February 21, 2020 6369 Views 0 comment Print

Forward contracts in the nature of hedging transactions in course of normal import export activities to cover up losses on account of foreign exchange valuation difference results in business losses and not speculative one.

Constitution of 22nd Law Commission of India

February 21, 2020 2382 Views 0 comment Print

The sanction of the President is hereby accorded to the constitution of the Twenty-second Law Commission of India for a period of three years from the date of publication of this Order in the Official Gazette consisting of:

Can a settlement come in record if NCLT bench have passed CIRP order?

February 21, 2020 5934 Views 1 comment Print

The Insolvency and Bankruptcy Code, 2016 (Code) is a Codification of Sections of various previous Acts to deal with corporate insolvency and bankruptcy. Hailed as a comprehensive economic reform, IBC was hailed as the fastest and most effective tool to recover bad debt.

Summary of Discussion paper on proposed changes to SEBI Takeover Regulations

February 21, 2020 1977 Views 1 comment Print

Securities and Exchange Board of India (SEBI) on 3rd February, 2020 released a Discussion paper proposing the changes in SEBI (Substantial acquisition of shares & Takeover) Regulation, 2011 for availing various mode of acquisitions of the target company and proposing other changes for making the procedure more transparent and simpler for the acquisitions.

Important GST Amendments at a Glance

February 21, 2020 4080 Views 4 comments Print

In this presentation, you will find latest amendments in the GST Law. 7th February 2020 The due date to submit TRAN-01 for carrying forward the transitional credit is extended to 31st March 2020 for those taxpayers who could not file earlier due to technical glitches. 3rd February 2020 The filing of return in GSTR-3B for […]

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