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Archive: 16 January 2021

Posts in 16 January 2021

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

May 15, 2024 7017 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.

Common man’s wish list from finance minister on income tax

January 16, 2021 14196 Views 7 comments Print

With budget day approaching we individual tax payers wish the finance minister to fulfil some of our wishes. Let us discuss what I as a common man wish from the Finance Minister. Revision in the monetary limit of deduction available under Section 80C, 80CCC and 80CCD Presently as per Section 80 CCE the deductions available […]

CAIT raises concerns on Maha Govt decision on applicability of GST Circulars

January 16, 2021 1323 Views 1 comment Print

In a communication sent to PM Shri Narendra Modi today,  Confederation of All India Traders (CAIT) has raised serious concerns about an arbitrary decision of Maharashtra Govt which violates the very fundamental of GST being ‘one nation- one tax’. We urge the State Govt to immediately withdraw the circular. “Vyapur Bhawan” 925/1, Naiwala, karol Bagh,New […]

Restrict WhatsApp from implementing it’s new privacy policy: CAIT

January 16, 2021 930 Views 0 comment Print

In a strong communication sent to Union Minister Shri Ravi Shankar Prasad, Confederation of All India Traders (CAIT) has reiterated that WhatsApp must be restricted from implementing it’s new privacy policy & a technical audit of WhatsApp, Facebook & Instagram must be conducted immediately. Confederation of All India Traders “Vyapur Bhawan” 925/1, Naiwala, karol Bagh,New […]

Section 234D Interest with other relevant aspects

January 16, 2021 5700 Views 0 comment Print

Section 234D in Income Tax Act, 1961 was introduced in the act to cover those situations where the refund was issued to the assessee according to intimation U/s 143(1) & later on it was discovered post Scrutiny Assessment that the assessee wasn’t eligible for refund or amount of refund was more than amount refunded after […]

Burden of huge tax on belated filing of Return of Income

January 16, 2021 15699 Views 9 comments Print

Avoid the burden of huge tax on belated filing of return of income. Learn about the consequences and possible solutions.

ITR (Income Tax Return) Overview and Penalty Provisions

January 16, 2021 3525 Views 0 comment Print

Understand the basics of Income Tax Return (ITR) and penalty provisions. Learn about the income tax slab and rates for FY 2020-21.

One held for fraudulently passing on fake ITC of Rs 14.30 crore

January 16, 2021 900 Views 0 comment Print

The syndicate was being operated by Sh. Nitin Jain, C.A by floating three firms i.e M/s Anshika Metals, M/s N.J Trading Co. and M/s A.J Enterprises using the identity of his family members, with the intent of passing of inadmissible ITC.

Section 35 Deduction for expenditure on scientific research

January 16, 2021 172551 Views 3 comments Print

Provisions of section 35 of the Income Tax Act, 1961 covers deduction allowable towards expenditure on scientific research. The provisions are briefly explained in the present article. Deduction towards revenue expenditure on scientific research [Section 35(1)]- Following table briefly explains the deduction available under section 35(1) on revenue expenditure for scientific research- Type of expenditure/ […]

Is a Life Cover of Rs. 50 Lakhs a Good Reference Point?

January 16, 2021 1542 Views 0 comment Print

As necessary as it is to buy life insurance for financial protection, it can also be an equally challenging decision. There are several aspects of the purchase process that need careful consideration. Choosing the right amount of life coverage is one of them. Life cover refers to the sum assured that your family would receive […]

Technical Guide on Charges-Registration, Modification & Satisfaction under Companies Act  2013 & LLP Act 2008

January 16, 2021 6885 Views 0 comment Print

ICAI releases Technical Guide on Charges-Registration, Modification & Satisfaction under Companies Act 2013 & LLP Act 2008 The Debt Finance is gaining popularity with the coming times. Almost every individual, LLP, Companies and body corporates borrows money from bank, financial institutions, co-operatives etc. for meeting their day to day requirements. Over the years the Government […]

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