"May, 2020" Archive

Form ITR-1 Sahaj – AY 2020-21 | Applicability & Additional Disclosures

CBDT has notified new ITR form for AY 2020-21 vide notification No. 31/2020 dated 29.05.2020. This article explains Form ITR-1 Sahaj Applicability and additional disclosure required compared to previous year Form ITR-1. This Form ITR-1 Sahaj can be filed by an individual resident (other than not ordinarily resident) having total income up...

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Posted Under: Income Tax |

GSTR-2A B2B Consolidated Party Wise Report Utility

The utility attached herewith which will helps you in merging All GSTR 2A Excel Sheet & Prepares the Consolidated Party Wise Detailed Report....

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Posted Under: Income Tax |

Are buyers liable for deposit of Tax under GST by selling dealer?

Introduction :- Section 16(2)(c) of the Central Goods and Service Tax Act 2017 ( Act) states that subject to the provisions of section 41, the tax charged in respect of such supply has been actually paid to the Government, either in cash or through utilisation of input tax credit admissible in respect of the said supply. Further Sectio...

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Posted Under: Income Tax |

GST Series Part 8- Valuation of Taxable Supply | Section 15 | CGST Act, 2017

1. The term ‘Valuation’ is significant under the GST Act as it will determine the amount of tax to be paid by the supplier of the goods or/and services. Section 15 of the CGST Act 2017 talks about the valuation of the supply of goods or/and services supplied in different circumstances and to a different […]...

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Posted Under: Income Tax |

Major Changes In Income Tax Law for AY 2020-21 & AY 2021-22

Article explains Major Changes In Income Tax Law for Assessment Year (AY)  2020-21/ Financial Year (FY) 2019-20  and AY 2021-22/FY 2020-21 which includes changes in Tax Rates, TDS Rates, Depreciation Rates, Widening of Scope of Form 26AS,  Changes in the provisions related to NRIs, Tax Treatment of Dividends Changed, Fresh Registration...

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Posted Under: Income Tax |

COVID 2019 : Impact & Strategies

The recent Outbreak of COVID 2019, a Pandemic in a sort has affected Human beings on the Earth in a Shock beyond repair. Human Life never before in the history of mankind has seen such a worst phase of his life in the Year 2019 and is still continues in 2020 and only GOD knows […]...

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Posted Under: Income Tax |

A guide on General Precautions for Covid-19 Prevention

This guide on COVID-19 is prepared by GIPARD in consultation with the Department of Preventive & Social Medicine, Goa Medical College & Hospital; in the larger public interest and for the benefit of different sections in the society, so that they can take the necessary precautions and protect themselves as well as others from gett...

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Posted Under: Income Tax |

Summary of section 185 of Companies Act, 2013: Loan to Directors

The summary of the provision related to Loan to Directors as per section 185 of the Companies Act, 2013 is given below: A. Compliance required: Section 185(1) 185(2) Facility Provide Loan, Give Guarantee or Provide Security Provide Loan, Give Guarantee or Provide Security Lender Any Other Company Any Other Company Borrower a) Its director...

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Posted Under: Income Tax |

ICAI Advisory on unauthorised use of Trademark ‘ICAI’

Mark 'ICAI' which is the acronym of the Institute has acquired a distinctive character and as it exclusively considered to be associated with Identity of Institute of Chartered Accountants of India (ICAI)....

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Posted Under: Income Tax |

Appeal to President, ICAI for deferring May 20 exams to November 20

It is prayed to merge the May 2020 exam with November exams and initiate the remedial measures of providing options of students to their chosen groups etc. Further in a stressful and trying situation, and I look forward to your understanding to make decisions in a timely and well-informed manner....

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Posted Under: Income Tax | ,