Currently, the taxpayers are facing issue in GSTR-9 in reporting transactions pertaining to F.Y. 2017-18 which was reported in GST returns of 2018-19 as there is no specific column for the same. Such values were already reported in GSTR-9 of F.Y. 2017-18 in Tables 10 to Table 14....
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Canara Bank (Erstwhile Syndicate Bank) Vs ACIT (ITAT Bangalore) -
The issue under consideration is whether the penalty u/s 271C levied due to failure to deduct tax at source (TDS) on LTA paid to employee is justified in law?...
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Bector Food Specialties Ltd Vs JCIT (ITAT Chandigarh) -
The issue under consideration is whether submitting additional claims before tribunal, which is not claim in return of income will be sustain in law?...
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Corporate Social Responsibility is no longer a mere slogan or an idea. It has grown to become one of the most important indicators of a company’s responsibility towards the social growth. It has become indispensable for various firms to demonstrate such activities....
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Internal auditing is an independent, objective assurance and consulting activity designed to add value to and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and gov...
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Article contains Matrix for Tax Audit Requirement Under Section 44AB for A.Y.2020-21. Matrix has been prepared after considering provisions of section 44AB and 44AD for A.Y.2020-21...
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DCIT Vs. Coffee Day Global Ltd. (ITAT Bangalore) -
DCIT Vs. Coffee Day Global Ltd. (ITAT Bangalore) The issue under consideration is whether foreign exchange fluctuations are allowed as revenue expense u/s 37 of Income Tax Act? ITAT states that, the Supreme Court in the case of CIT vs. Woodward Governor India Pvt. Ltd. (2009) 312 ITR 254 had already held that the actual […]...
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Boxster Impex Pvt. Ltd. Vs Union of India and ors. (Bombay High Court) -
The issue under consideration is whether freezing the bank account for such a long period is justified in law?...
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Section 44AB of the Income-tax Act, 1961 contains the provisions for the tax audit of an entity. As per these provisions, Tax audit will be conducted by a practicing chartered accountant who ensures the taxpayer have maintained proper books of account and complied with the provisions of the Income-tax Act. In view of the challenges [&hell...
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Gujarat Mazdoor Sabha & Anr. Vs. The State of Gujarat (Supreme Court of India) -
Gujarat Mazdoor Sabha & Anr. Vs. The State of Gujarat (Supreme Court) Facts- The Gujarat Government, on 17th April 2020, issued a notification under section 5 exempting all the factories from various provisions relating to weekly hours, daily hours, intervals for rest etc. for adult workers during the period 20th April 2020 till 19th ...
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