"26 April 2020" Archive

Demands and recovery under GST- Detailed Analysis

1. Introduction: Levy of tax is mandated by law under GST, its recovery is an important administrative function under law. Though the focus is on self-assessment and voluntary payment of tax, there bound to be certain disputes and other factors resulting in non-payment, delayed payment of tax. In civil society the demand of tax before [&h...

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Issues under GST for Companies under IBC, 2016

Clarification In Respect of Issues Under GST Law For Companies Under Insolvency And Bankruptcy Code, 2016 (IBC 2016) OVERVIEW  Insolvency and Bankruptcy Code, 2016 (IBC) is an evolving legislation, still being interpreted by courts in order to harmonize IBC with our related legal policy. The Hon’ble Supreme Court in the matter of State...

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Interest on delayed payment of tax: Section 50 of CGST Act, 2017

Introduction: This article discusses in detail about interest payable on late payment of tax liability under GST. As per Sec 50(1) of CGST Act 2017 , Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made there under, but fails to pay the tax or […]...

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Fake news of Govt giving Rs 1000 under Corona Sahayata Yojana

Fake news on WhatsApp claims Government giving Rs 1000 under Corona Sahayata Yojana Fact Check Unit of Press Information Bureau has today clarified in a tweet that Government of India is not giving Rs 1000 to anybody under the so called Corona Sahayata Yojana scheme. This tweet was in response to a widely circulating message […]...

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18 Key Highlights of PM-MODI’s ‘Mann Ki Baat 2.0’ on 26.04.2020

18 Key Highlights of PM-MODI’s address in the 11th Episode of ‘Mann Ki Baat 2.0’ on 26.04.2020 1. Mann Ki Baat’ Begins | Prime Minister Narendra Modi begins his monthly address to the nation in the 64th edition of the radio programme, ‘Mann Ki Baat’. 2. The coronavirus fight is being fought by the people […]...

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When Does A Person Feel Guilty of Paying Less Income Tax?

Arjuna: Krishna, now due dates of return filing is approaching, taxpayer will file Income Tax Return for the year ended 31st March 2014. The taxpayers and Tax Experts, Chartered Accountants, etc. are in planning and working mode and business community is getting busy. Further business community is waiting for Budget 2014....

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Taxation of Charitable/Religious Trust

Shalki Bansal Charitable/religious trusts are the trusts which are formed with an objective of providing relief to poor, education, medical relief, preservation of environment/ monuments , advancement of objects of general public utility, religious purpose, etc. There taxation has always been a point of concern. The entire income of such ...

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Check List for Making Form 15CA & 15CB by Professionals

Nowadays Form 15CA and 15CB are of a lot importance. We professional atleast have to issue one Form 15CB every day and form 15CA is also to be made by the professional on behalf of the client. ...

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Taxation of GOLD

Recently there is lots of ups and down in gold market and its rates. Many other types of precious metal, stones are there but no other can take the place of gold.  Indians are found of Gold; hence let’s explain me about gold and taxation....

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Update your Contact & Address Details in Income Tax E-Filing Portal

We all are aware that whenever we login into our Income Tax Account, at that time we get an auto pop up to update our contact details and if the contact details are already updated then we get the message of update address details. With general human tendency we usually read those message and just […]...

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