"07 November 2020" Archive

Request to relax Tax Audit Limit from 60 to 90 as one time measure for A.Y. 2020-21

You are requested to relax the said general guidelines as a onetime measure to enhance it further to 90 for A Y 2010-21 due to the Covid-19 restrictions of travelling, maintaining social distance etc. This one-time measure will surely helpful to the members to complete their tasks with comfort....

Read More
Posted Under: Income Tax |

Application for enrollment of existing taxpayer in Form GST REG-26

As per provisions of rule 24(2) of the Central Goods and Services Tax Rules, 2017, every person who is granted provisional GST registration can submit an application in Form GST REG-26 for grant of final GST registration. In short, Form GST REG-26 is an application form to be furnished by the person having provisional registration [&helli...

Read More
Posted Under: Income Tax |

Incorporation of private limited company through spice

Introduction: – According to section 2(68) of Companies Act, 2013, Private Company means ‘A company having a minimum paid-up share capital as may be prescribed, and which by its articles, i. restricts the right to transfer its shares; ii. except in case of One Person Company, limits the number of its members to two hundred [&h...

Read More
Posted Under: Income Tax |

HC Grants Permission to resubmit  GST return

The Hon’ble Madras High Court in case of M/S.SUN DYE CHEM  Vs. The Commissioner of State Tax, State of Tamil Nadu permitted the petitioner to resubmit the GST Returns Brief Facts of the Case:- The petitioner is a partnership firm, a registered dealer, and files regular returns, computing the tax payable after setting off Input [&he...

Read More
Posted Under: Income Tax |

What is Will (Testament)

Object of preparing a WILL is to create an apt awareness amongst general public. What are the advantages of making a WILL and what are the disadvantages of not making a WILL, we will discuss. There are many hurdles and hassles in not making a WILL, at the time of transferring the estate of a deceased person....

Read More
Posted Under: Income Tax |

Income Tax Department searches at Chennai based IT Infra group

Release ID: 1670941 07/11/2020

The Income Tax Department has carried out searches at 5 locations in Chennai and Madurai on 4.11.2020 in the case of a Chennai based group operating in IT Infra sector....

Read More

ICAI announces Procedure & details for availing OPT–OUT facility

In case the student appears for some of the papers in a particular group and subsequently he/she opts out for any of the reasons as mentioned in (a) to (c) above, then he/she has to appear for all papers of the Group in the next examination cycle i.e. shifting of some of the paper(s) of the same Group is not allowed;...

Read More
Posted Under: Income Tax |

Section 14A disallowance cannot exceed amount of exempt Income

Brindavan Beverages Pvt.Ltd. Vs DCIT (ITAT Banglore)

The issue under consideration is whether the disallowance u/s 14A can exceed the amount of exempt income? In the light of the order of M/s.Century Real Estate Holdings Pvt. Ltd. v. ACIT (supra), ITAT hold that the disallowance u/s 14A of the I.T.Act cannot exceed the exempt income....

Read More

No GST if Entire Sales Consideration received after obtaining Occupancy Certificate by applicant of his Share in property under JDA

In Re Sri. B.R. Sridhar (GST AAR Karnataka)

In Re Sri. B.R. Sridhar (GST AAR Karnataka) Whether the total amounts received by the Owner towards the advances or sale consideration of the flats fallen to his share of 40% in terms of the Joint Development Agreement dated 19.05.2016 and the subsequent Area Sharing Agreement dated 03.01.2018, are not amenable for payment of GST, [&helli...

Read More

How to change password on GST Portal

How do I change my password? To change your password, you need to perform the following steps: Note: You need to change the password mandatorily after 120 days.  1. Access the URL https://www.gst.gov.in/. The GST Home page is displayed. 2. Login to the GST Portal using valid credentials. 3. The Dashboard is displayed. Click the Change [...

Read More
Posted Under: Income Tax |

Search Posts by Date

October 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031