"11 April 2020" Archive

Changes in TCS Compliance for Authorized Dealers & Tour Operators

Changes In Compliance For Authorized Dealers And Tour Operators As Passed In The Finance Act, 2020. Introduction: The Finance Bill, 2020 which has been passed in the Lok Sabha has come up with a plethora of amendments in the Income Tax act, 1961. Additional compliance have been put on tour operators as well as authorized […]...

Read More
Posted Under: Income Tax |

Group admins personally responsible for fake news: Mumbai Police

Commissioner of Police, Greater Mumbai, prohibiting any person or group of persons from: dissemination of information through various messaging and social media platforms like WhatsApp, Twitter, Facebook, Tiktok, Instagram etc. and found to be incorrect and distorting facts; or...

Read More
Posted Under: Income Tax |

Critical Analysis of Section 271AAD – Penalty for Fake Transactions’ – Part one

Introduction Through the Finance Bill of 2020, the already voluminous Income Tax Act was laden with another a new provision.This time the addition was triggered due to some events or practices under the GST Law. Section 271AAD was inserted for imposing penalty for false entry or for omission of any entryin books of accounts, which [&helli...

Read More
Posted Under: Income Tax |

Treatment and Analysis of ITC on Capital Goods Under GST Laws

The definition of capital goods has undergone a substantial change in the revised GST Law. The definition of capital goods under revised GST Law is given under section 2(19) which states that capital goods means goods, the value of which is capitalised in the books of accounts of the person claiming the credit and which are […]...

Read More
Posted Under: Income Tax |

List of Services on which GST is payable under RCM -Updated till 31/03/2020

Notified Categories of services on which GST will be payable under Reverse Charge Mechanism (RCM)- Updated list till 31/03/2020...

Read More
Posted Under: Income Tax |

Vehicle Detention/Confiscation-Procedures & Law under GST

After the GST regime is implemented and thereafter e-way bill has been made mandatory, there are many cases wherein vehicles carrying the goods are detained at behest of any sort of discrepancies in documents carried along with the goods. In this write-up we have tried to compile the necessary sections and rules wherein the law […]...

Read More
Posted Under: Income Tax |

TCS on Sale of Goods under Income Tax Laws wef 01.10.2020

Every seller, whose total sales, gross receipts  or turnover from the business carried on by him exceed ₹ 10 Crores during the FY 2019-20 & onwards, who receives any amount  as consideration for sale of any goods (excluding exports) of the value or aggregate of such value exceeding ₹ 50 Lakhs in any previous year shall at the time...

Read More
Posted Under: Income Tax |

COVID-19- Liability of employers to remunerate its employees- Legal Opinion

The Querist has sought opinion with respect to the liability of the employers to remunerate its employees in light of situations like the present spread of pandemic namely COVID-19, owing to which the Central Government has declared a lockdown of 21 days starting from 25.03.2020, which eventually has lead to cessation of work or adversely...

Read More
Posted Under: Income Tax |

COVID-19 Few more GST Measures which Government may Consider

COVID 19 Pandemics – What still can be done to provide Reliefs to the Dealers We are all aware of the fact that COVID – 19 has not only posed a serious threat on the physical wellbeing of millions of people across the globe including India but has badly shaken the global economy, as well. […]...

Read More
Posted Under: Income Tax |

EGM Clarification Amid Covid

The Ministry of Corporate Affairs (MCA) vide its general circular no. 14/2020 dated April 8, 2020 has issued a clarification for passing special and ordinary resolutions by companies under the Companies Act, 2013 (Act) and rules made thereunder on account of threat posed by COVID-19. MCA vide this clarification allows the companies to ta...

Read More
Posted Under: Income Tax |

Search Posts by Date

April 2021
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930