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Archive: 11 October 2020

Posts in 11 October 2020

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 30 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7383 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Impact of Recent clarifications on GSTR-9 & GSTR-9C

October 11, 2020 31863 Views 4 comments Print

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.

Additional claim can be made before ITAT despite no such claim in Return of Income

October 11, 2020 6828 Views 0 comment Print

The issue under consideration is whether submitting additional claims before tribunal, which is not claim in return of income will be sustain in law?

Failure of CSR in India

October 11, 2020 57429 Views 0 comment Print

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.

Internal Audit & Internal Auditor Appointment under Companies Act, 2013

October 11, 2020 22578 Views 2 comments Print

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 governance processes. Internal auditing achieves this by providing insight and recommendations based on analyses and assessments of data and business processes. With commitment to integrity and accountability, internal auditing […]

Matrix for Tax Audit Under Section 44AB for A.Y.2020-21

October 11, 2020 31422 Views 2 comments Print

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

Why Due dates for Tax/Transfer Pricing Audit & ITR filling should be extended? WHY

October 11, 2020 6483 Views 0 comment Print

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 […]

SC quashes Gujarat Notification exempting factories from paying overtime during lock down

October 11, 2020 1614 Views 0 comment Print

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 July […]

Activities promoting Handloom Sector Eligible for section 11 & 12 Exemption

October 11, 2020 1632 Views 0 comment Print

The issue under consideration is whether the activities involved towards promotion of handloom sector is eligible for exemption under section 11 and 12 of Income Tax Act?

मन की बात किसकी

October 11, 2020 1806 Views 0 comment Print

रविवार को सुबह तैयार होकर नाश्ता कर रहा था। पत्नी भव्या ने बातचीत करते हुए कहा कि जब से जीएसटी लागू हुआ है, तब से व्यापारी हो या टैक्स प्रोफेशनल दोनों की परेशानियां बहुत बढ़ गई हैं। उपर से ये कोरोना ने ‘कोढ़ में खाज‘‘ का काम किया है। भव्या बोली, एक बार मोदी जी […]

Clarification on availment GST ITC for Feb, 20 to Aug, 20 – Rule 36(4)

October 11, 2020 16104 Views 0 comment Print

CBIC has issued a Departmental Circular No 142/12/2020- GST on 9th October, 2020 clarifying applicability of Rule 36(4) of the CGST Rules, 2017 for the months of February 20 to August 2020. Earlier on 11th November, 2019 CBIC had clarified that ITC is to be availed based on Invoices or debit notes reported by suppliers. […]

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