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Archive: 19 February 2021

Posts in 19 February 2021

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices?

April 29, 2024 7014 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Join Live Webinar and get Book on Section 43B(h)

April 29, 2024 5076 Views 1 comment Print

Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down intricacies of Section 43B(h)

Schedule of ICAI Chartered Accountant Exam – May 2021

February 19, 2021 5193 Views 0 comment Print

ICAI announces Schedule of Chartered Accountant Examination – May 2021 for Chartered Accountants Intermediate (IPC) {Under Old Scheme}, Intermediate {Under New Scheme} and Final {Under Old & New Scheme} Examinations. THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA Examination Department The Institute of Chartered Accountants of India 19th February, 2021 IMPORTANT ANNOUNCEMENT No. 13-CA (EXAM)/M/2021: In […]

Intricacies Involved In Gifts: To And From HUF

February 19, 2021 20310 Views 0 comment Print

In the previous article on HUF, we had discussed about the meaning of HUF, its formation, creation of corpus of HUF and how it can be used as a legal tax saving tool. In one of the ways the corpus of Hindu undivided family can be created by receiving gifts from relatives.

Validity of Service Tax Notices Based on Form 26AS

February 19, 2021 65856 Views 7 comments Print

1. Recently (mainly December 2020) spate of show-cause notices (SCN) have been issued seeking to demand the service tax on the differential amounts as determined based on the values reported in the service tax returns (nil if not filed) and the values reported in Form 26AS filed under the Income Tax Act reflecting the TDS […]

No Change of Opinion if facts related to deemed consideration U/s. 50C been overlooked

February 19, 2021 927 Views 0 comment Print

Rakesh Ambalal Patel Vs ITO (ITAT Ahmedabad) We have perused the assessment order and the order of the CIT(A) as well as the materials placed on record and referred to in terms of Rule 18(6) of the Income Tax (Appellate Tribunal) Rules, 1963. On perusal, we observe that at the time of original assessment proceedings, […]

Conversion of OPC Into Private Limited or Public Limited Company

February 19, 2021 3804 Views 4 comments Print

Conversion of One Person Company (OPC) Into Private Limited or Public Limited Company Introduction: One Person Company (OPC) means a company, which has only one person as a member. OPC can be converted into Private / public limited Company either by voluntarily or compulsory. Compulsory Conversion: Under below mentioned scenario, it is compulsory to convert […]

Know more about QRMP scheme & how to furnish details in IFF

February 19, 2021 2994 Views 0 comment Print

Know more about “QRMP scheme and how to furnish details in IFF” and Answers to Frequently Asked Questions 1. Invoice Furnishing Facility (IFF) is an optional facility made available as per Rule 59(2) of the CGST Rules, 2017. This is provided for those quarterly taxpayers who want to pass on input tax credit (ITC) to […]

How to get a lower interest rate on a Personal Loan?

February 19, 2021 2463 Views 4 comments Print

Financial emergencies come without warning. And the best way to tackle such an urgent financial need is to avail of a low-interest personal loan. From funding your child’s education to booking your ultimate dream holiday, a personal loan will help you fulfill your needs.

If assessee given clean chit after SCN, respective authority may be requested to consider extension of Export Obligation period

February 19, 2021 1524 Views 0 comment Print

If assessee was given a clean chit in the proceedings of the show cause notice, it might request the concerned authority to consider the case of extending the Export Obligation period which had been suspended presently and it would be for the authority to consider such a request at an appropriate time, if the factual circumstances based on the substantive material eventually tilt in favour of assessee.

Self-certification of GST annual return & reconciliation statement post Budget 2021

February 19, 2021 8217 Views 0 comment Print

The Union Budget 2021 has come up with important amendments with regard to the filing of annual return and reconciliation statement under Goods and Services Tax (i.e., GST). As per the amendment, GST annual return and reconciliation statement can be submitted on a self-certification basis. Accordingly, post Budget approval, certification of chartered accountant/ cost accountant […]

How to make use of a home loan EMI calculator

February 19, 2021 3777 Views 0 comment Print

A home loan is one of the most popular ways for young homeowners to own homes. With the soaring costs of houses across the country, a home loan is the best way for people to buy their dream homes. With lenders going digital, it is now possible for borrowers to research lenders and their loan […]

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