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Archive: 16 July 2020

Posts in 16 July 2020

Common mistakes in filling of Income Tax Return

July 16, 2020 217735 Views 25 comments Print

Avoid common mistakes while filling your Income Tax Return (ITR) form. Ensure accuracy in PAN details, name, date of birth, and address to prevent computation errors.

How to Reset Password on Income tax Website

July 16, 2020 46403 Views 29 comments Print

Registered user can reset the password using one of the following options: 1. Answer Secret Question. 2. Upload Digital Signature Certificate 3. Using OTP (PINs)

Analysis of NPS, ELSS, PPF Investment u/s. 80C of Income Tax

July 16, 2020 11437 Views 5 comments Print

Individuals who are employed and contributing to NPS would enjoy tax benefits on their own contributions as well as their employer’s contribution as under

Mandatory Filing of Form 26QB by Buyer of Immovable Property

July 16, 2020 102319 Views 14 comments Print

As per the information received in Annual Information return (AIR) through Registrar/Sub-registrar, you have executed transaction for Purchase of Immovable Property exceeding Rs. 50 Lakhs (Rupees Fifty Lakhs) during Financial Year. However TDS Statement in Form 26QB has not yet been filed by you. In this regard, your urgent attention is invited to the following, […]

Pivotal Calculation of Interest u/s 234A of Income Tax Act, 1961

July 16, 2020 36952 Views 4 comments Print

In this article we will discuss pivotal calculation of interest u/s 234A for delay in furnishing or non-furnishing return of income u/s 139(1) of Income Tax Act, 1961

All about Foreign Tax Credit and its Indian Context

July 16, 2020 61951 Views 1 comment Print

Corporate India today serves global needs and brings in overseas income which is chargeable to Indian tax net as a resident of India. Flip side of this paves way for claim for taxes paid at foreign jurisdiction based on the source of income.

Overseas Direct Investment – Brief Analysis

July 16, 2020 10338 Views 0 comment Print

Meaning Overseas Direct investment means investments outside India, either under the Automatic Route or the Approval Route: -by way of contribution to the capital or -subscription to the Memorandum of a foreign entity or -by way of purchase of existing shares of a foreign entity either by market purchase or private placement or through stock […]

Consumer Protection (Mediation) Rules, 2020

July 16, 2020 4149 Views 0 comment Print

Consumer Protection (Mediation) Rules, 2020 The parties shall not initiate any arbitral or judicial proceedings in respect of a matter which is the subject-matter of the mediation and also when such parties have expressly undertaken not to initiate any such proceeding.

Subway Franchisee denied tax reduction benefit to customers: NAA

July 16, 2020 849 Views 0 comment Print

Director General of Anti-Profiteering Vs M/s Gaurav Sharma Food Industries (National Anti-Profiteering Authority) 1. The present Report dated 31.12.2019 has been furnished by the Director General of Anti-Profiteering (DGAP), under Rule 129 (6) of the Central Goods & Services Tax (CGST) Rules, 2017. The brief facts of the case are that a reference was received […]

GST on services provided by CREDA, scrap battery sale & sale of tender forms

July 16, 2020 1635 Views 0 comment Print

In re Chhattisgarh State Renewable Energy Development Agency (GST AAAR Chhattisgarh) The appellant Chhattisgarh State Renewable Energy Development Agency (Hereinafter referred to as CREDA), Raipur C.G. (GSTIN- 22AAAJC0190K2ZM) has filed this appeal u/s 100 of the Chhattisgarh Goods & Services Tax Act, 2017 requesting advance ruling in respect of the following questions:- 1. Applicability of […]

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