"18 September 2020" Archive

Now download E-Way bills for one month period in one go

New enhancement allows downloading E-Way bills for one month period in one go – The facility was earlier available for the period of 5-days interval. – User can download E-way bill using the Reports tab in E-way bill portal – The facility is aimed to provide relief to taxpayers and transporters E-way bill, a document, [&...

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Disallowing of Interest without Considering T&C of Agreement is unjustified

Hutchinson & Co. (India) P. Ltd. Vs DCIT (Karnataka High Court)

The issue under consideration is whether Tribunal is correct in the disallowing the claim of interest from the deposits without considering the terms and conditions of the agreement between the parties?...

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GST registration by Insolvency professional

Government has laid down a special procedure u/s 148 of the CGST Act, through Notification no. 11/2020- Central Tax, dated 21.03.2020 which says that every IRP or RP has mandatorily need to apply for a fresh registration application under GST for each state where the corporate debtor was earlier registered within 30 days of his […]...

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SEBI Settlement Scheme, 2020 – FAQs & answers

The Securities Exchange Board of India has introduced a Settlement Scheme, 2020 vide Public Notice dated July 27, 2020, in terms of Regulation 26 of the SEBI (Settlement Proceedings) Regulations 2018. The purpose of the Scheme is to provide a one-time opportunity for settlement to the entities that have executed reversal trades in the sto...

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Taxability of Education Cess & Issues relating to its computation

Till AY 2018-19, Education Cess & Secondary & Higher Education Cess was an additional levy charged @ 2% and 1% respectively on Income Tax as increased by applicable rate of surcharge. However, vide Finance Act 2018, w.e.f AY 2019-20 the aforesaid cess has been replaced with Health & Education Cess and the rate has been [&helli...

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TCS on Sale of Goods-Sec 206C(1H)-Applicable from 01.10.2020

With a view to widen the tax-net the India Government has widened the scope of TCS (Tax Collected at Source) provided under section 206C of the Income Tax Act, 1961. As per the extended scope, tax is need to be collected on foreign remittances under Liberalized Remittance Scheme (LRS) , sale of overseas tour packages […]...

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Resolution for Appointment of Depository & RTA in unlisted public company

As per provisions of Rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014, every unlisted public company shall compulsorily issue the securities only in demat mode and facilitate demat of all its existing securities in accordance with provisions of the Depositories Act, 1996 and regulations made there under. 1. Fo...

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Now Aadhaar OTP Must For Property Registration In Haryana

In last one year, several incidents have been reported in the state, where properties have been transferred without the knowledge and consent of legal owners. An imposter claims to be owner of the property and sell the property to other party. The government has launched several new safety measures in its registry system to prevent [&hell...

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Adhoc SMS charges levied by banks & its appropriateness

Adhoc Monthly/Quarterly SMS charges and GST on it levied by banks on Cores of banking accounts and its appropriateness Upon reading the title of the write-up you may think that the subject matter is very simple and insignificant. Probably, the reader may also think that there is no need to write such a lengthy article-up. […]...

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95 Timesaver Excel basic & advanced excel shortcuts

Pre requisites to help understand the file: 1. What is Timesaver Excel Shortcuts? 95 selected basic & advanced excel shortcuts which can simplify work 2. Is there any thing one should know in advance before reading the shortcuts? Yes. Below are the two points which you should know in advance before going through the shortcuts: [&helli...

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April 2021