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Archive: 08 November 2020

Posts in 08 November 2020

Webinar on Critical Issues in Faceless Assessments under Income Tax Act, 1961

February 14, 2025 3609 Views 0 comment Print

Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert CA Hari Agarwal, FCA.

New e-TDS/TCS RPU Version 3.4 & FUV version 6.9 & version 2.165

November 8, 2020 11976 Views 1 comment Print

Key Features of e-TDS/TCS Return Preparation Utility Ver. 3.4 for Regular & Correction Statement(s) from FY 2007-08 onwards 1. Section codes 194LBA(a) and 194LBA(b) for Form 26Q:- Existing section code 194LBA has been sub-divided into below mentioned two sections: 194LBA (a) – Certain income in the form of interest from units of a business trust […]

Service Tax Payable on Anti-Virus Software under I T Software services

November 8, 2020 1695 Views 0 comment Print

The issue under consideration is whether an ‘Anti Virus Software’ would fall within the ambit of the definition of ‘Information Technology Software’ as defined u/s 65 (53a) of the Finance Act, 1994?

Remembering Demonetisation on its Fourth Birth Anniversary!!!

November 8, 2020 7059 Views 0 comment Print

The primary reason for bringing out the Direct Tax Vivad Se Vishwaas Scheme 2020, as asserted by the learned Revenue Secretary is to ensure amicable resolution of disputes arising out of OCM/Demonetisation Cases. The Income-tax department has launched an aggressive outreach drive, wherein, a large number of jewellers and real-estate developers have been sent notices, emails and proposals to opt for this Tax Amnesty Scheme and avail the benefit of immunity from interest and penalty and even prosecution.

HC approves SVLDRS-1 despite Clerical Error considering it as unintentional

November 8, 2020 2364 Views 0 comment Print

The issue under consideration is whether any clerical or arithmetical error made by an applicant in SVLDRS-1 also falls within the ambit of Section 128 of Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019?

Premature Disclosure of Pending tax Investigation to Media Not Justified in Law

November 8, 2020 516 Views 0 comment Print

The issue under consideration is whether the proceedings of enquiry/investigation undertaken at the airports without keeping it confidential and premature disclosure to the media (print/electronic) is justified in law?

MSME Udyam Registration without PAN and GST upto 31.3.2021 as transitional arrangement

November 8, 2020 4203 Views 1 comment Print

New online system of MSME/Udyam Registration stands the test of Time & Technology. Totally seamless & smooth system also shows stability & resilience. More than 11 lakh MSMEs already registered since its launch on 1st July, 2020

Are the gifts received on Deepawali tax-free in your hands?

November 8, 2020 17232 Views 6 comments Print

Traditionally Deepawali is the major occasion when gifts are given and gifts are received. The items given as gifts vary from just boxes of dry fruit and sweet to valuable like gold and silver coins etc. Majority of the recipients of such gifts are under the impression that such gifts have no income tax implications, […]

ITC, Interest & Rule 36(4) Dangerous Provision of GST that Every Professional Should be aware

November 8, 2020 32712 Views 8 comments Print

HERE I WANT YOU UNDERSTAND 36(4) AND ITS HIDDEN AGENDA. I Request everyone to read BELOW EXAMPLE. On 36(4). THE danger of 36(4)… Interest cost disguised in it… Do read and discuss with your colleagues. Share with your professional friends… read below example of XYZ LTD. XYZ LTD HAVE FOLLOWING PURCHASES IN JANUARY, FEBRUARY, MARCH […]

When equal opportunity in public employment is denied to a class it has to be substantiated by proper data & circumstances

November 8, 2020 951 Views 0 comment Print

Ayush Medical Association Vs State of Chhattisgarh (Chhattisgarh High Court) 1. Heard finally with the consent of both the parties as urgency was pressed upon the ground that the issue involved in both these petitions are relating to advertisement for appointments of Community Health Workers by training. Since the the facts and issue involved in […]

Extraordinary General Meeting under Companies Act, 2013

November 8, 2020 118398 Views 0 comment Print

An extraordinary general meeting (EGM) is a shareholder meeting called other than a company’s scheduled Annual General Meeting (AGM). The extraordinary general meeting is utilized to deal with urgent matters that come up between annual shareholders’ meetings.

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