CBDT clarifies that three Section 194N exemption notifications shall be deemed to be issued under fourth proviso to section 194N as amended by the FA, 2020.
The MoU will facilitate seamless sharing of certain Income-tax Return (ITR) related information by the Income Tax Department to MoMSME. This data will enable MoMSME to check and classify enterprises in Micro, Small and Medium categories as per the criteria notified in the Notification No. S.O. 2119(E) dated 26/06/2020 of MoMSME.
The issue under consideration is whether the benefit of section 54 of the Income Tax Act, being a beneficial provision, can be denied to the assessee due to non-compliance of procedural requirements?
1. Revocation of cancellation means revalidation of cancelled registration. Section 30 of the CGST Act 2017 read with Rule 23 of CGST Rules provide for revocation of cancelled registrations. 2. Application for Revocation of Cancellation : Section 30(1) A registered person, whose registration is cancelled by the proper officer on his own motion, may apply […]
Be it any law, it’s all about the interpretation of various words and phrases which brings in divergent views by professionals. One such phrase which has been used in GST law is ‘in respect of’, the interpretation of which can change the dimensions of the views held by one.
Exporters Bonanza If you are exporting the services, your net profit can be increased by 5% to 7% because Indian government is giving incentive on service exports? There is a scheme Service Export from India Scheme (SEIS) in Foreign Trade Policy 2015-20 where Government of India has notified various eligible services, rates & conditions for […]
New Income Tax Regime or Old Regime: What should a Salaried Taxpayer choose? The Union budget presented in the Parliament in February 2020, the Finance Minister proposed a New Tax Regime as an alternative to the existing Old Tax Regime for Individual and HUFs. Since the New Tax Regime is optional by all means, a […]
Learn about the voluntary compliance of income tax returns for FY 2018-19 (AY 2019-20). Find out how you can rectify discrepancies and file your return now.
This is a supplement to the earlier published Article under the above Title (‘the earlier Article’). Law Vs Case Law Role of A Professional (CA And Lawyer)- Part I 1.The idea of acquiring and holding a ‘Unit’ in a building, with ‘ownership’ rights, – notwithstanding its peculiar characteristics, as distinct from an independent and exclusively […]
Insights of Rule 9A and e-Form PAS-6 It is mandated for all the unlisted Public companies (except a Nidhi Company, a Government Company and a Wholly owned subsidiary Company) to issue the securities in dematerialised form only, vide its notification dated 10th September 2018, wherein Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014, was […]
