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Archive: 26 January 2021

Posts in 26 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.

Section 35DD Deduction towards expenditure incurred during amalgamation or demerger

January 26, 2021 21399 Views 0 comment Print

Section 35DD Deduction towards expenditure incurred during amalgamation or demerger Much amount of expenditure is incurred during amalgamation or demerger of any undertaking. In order to facilitate the company to claim the same, deduction towards such expenditure is allowed under section 35DD of the Income Tax Act. The provisions of section 35DD are briefly taken […]

RBI’s directions on Auto conversion of banking a/cs into Senior Citizen Account – No clarification for years

January 26, 2021 10281 Views 1 comment Print

RBI’s directions on Auto conversion (re-designation) of banking a/cs into Senior Citizen Account – No clarification for years Please peruse below the text of an important and relevant portion of a simple query, supported with a clear example, I posed to DBR (RBI). The circular below was issued by RBI following the policy statement of […]

Analysis of SC judgment in the case of Manish Kumar Vs. UOI

January 26, 2021 22044 Views 0 comment Print

Judgment dated 19th January, 2021 of the Hon’ble Supreme Court of India in the matter of Manish Kumar Vs. Union of India and Another [WP(C) No. 26 of 2020 with 40 other writ petitions]

e- commerce portals not displaying Mandatory Details on products/website

January 26, 2021 2979 Views 0 comment Print

Mandatory display of Country of Origin and Manufacturer, Seller Details on products sold on E-Commerce Portal of Amazon, Flip kart and other e- commerce portals.

Punjab GST Audit Manual 2020

January 26, 2021 2286 Views 0 comment Print

Objective of Punjab GST Audit Manual is to outline the principles and procedures for audit conducted under the Punjab Goods and Services Tax Act, 2017 and the Rules made there under. In this document registered person selected for audit is referred to as an Auditee.

CGST+SGST would be levied on intermediary services provided to foreign principal

January 26, 2021 3945 Views 0 comment Print

The Hon’ble AAR Gujarat in the matter of M/s. Sagar Powertex Private Limited [Advance Ruling No. GUJ/GAAR/R/98/2020, dated October 14, 2020] held that, ‘Central Goods and Services Tax (CGST) + State Goods and Services Tax (SGST) would be applicable and not Integrated Goods and Services Tax (IGST), on intermediary services provided by an Indian agent […]

Section 44AA Maintenance of accounts by certain persons carrying on profession or business

January 26, 2021 7578 Views 1 comment Print

Section 44AA of the Income Tax Act specifies the books of accounts that an assessee is required to maintain for Income Tax. Section 44AA together with Rule 6F lays down the provisions concerning maintaining these books of accounts. As per this section, every person carrying on Legal, Medical, Engineering, Architectural, Accountancy, Technical consultancy, Interior decoration, […]

TDS deducted on payment allowable as expense when Assessee follows cash Method

January 26, 2021 8838 Views 0 comment Print

Deloitte Haskins & Sells Vs ACIT (ITAT Delhi) Conclusion: Amount of tax deducted at source from the payment made to the recipient of such income could be said to be the amount of expenditure incurred by assessee and paid during the year and, therefore, it was allowable to assessee as business expenditure. Held: AO did […]

GST Rule 86B – An Analysis

January 26, 2021 84519 Views 8 comments Print

The government introduced GST explaining that it is good and simple tax to eradicate the cascading effect of various indirect tax legislations in the country, but after introduction of GST, the government took various measures to curb the fake ITC frauds but while doing so government did not even bother about what is the impact […]

How to revive a Strike off company

January 26, 2021 37269 Views 2 comments Print

Revival of a company which is strike off voluntarily or Suo-moto is in favor of both company and Economy as revived company will contribute to India’s Economic growth.  So let us know about the procedure of revival of strike off company. But before knowing revival procedure, let us first understand the reasons why a company […]

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