Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert CA Hari Agarwal, FCA.
Advisory on Annual Return (GSTR-9) The taxpayers are advised to ensure that values are reported upto two decimal places in the GSTR-9 offline utility. The error “Error! Invalid Summary payload” after uploading the JSON created from the Offline Utility of GSTR-9 is reported due to reporting values upto three decimal places instead of two decimals. […]
Rajasthan Budget 2021-22 Tax Proposals Covid- 19 has adversely affected all sectors of economic activity such as Industry, Real Estate, Tourism, Commerce, Agriculture etc. This resulted into shortfall of 32% of Budgeted revenue of the State in 2020-21. To add to this problem, Rajasthan’s share in Central Taxes reduced by 14,000 Crores and 94 lac […]
The Government has lifted the embargo on private sector banks (only a few were permitted earlier) for the conduct of Government-related banking transactions such as taxes and other revenue payment facilities, pension payments, small savings schemes, etc.
SEBI has advised NSE to carry out a detailed root cause analysis of the trading halt witnessed at NSE today and also explain the reasons for trading not migrating to the disaster recovery site. SEBI has asked NSE to submit its report at the earliest.
A plain reading of rule 86A signifies that the intention of the Government is only to curb the menace of availing fraudulent credit but it has many unintended ramifications. There is also no clarity on the scope of the term ‘Reason to Believe’ in the given Rule 86A in sub-rule (1)(b)
Exposures that are exempt from Large Exposures Framework (LEF) – Exposures to foreign sovereigns or their central banks that are: i. subject to a 0% risk weight under Table 2 of paragraph 5.3.1 of the Master Circular – Basel III Capital Regulations dated July 1, 2015, as modified vide circular dated October 8, 2015; and, ii. denominated in the domestic currency of that sovereign and met out of resources of the same currency.
PRODUCTION LINKED INCENTIVE (PLI) SCHEME TO PROMOTE TELECOM AND NETWORKING PRODUCTS MANUFACTURING IN INDIA- The Telecommunication sector has a pivotal role in facilitating the growth of economy. Telecom is key infrastructure and a key enabler of digital connectivity and Digital India. In the above context, it is necessary and desirable to incentivise manufacturing of Telecom Products in India.
The economic situation owing to COVID-19 pandemic has seen an exponential increase in cyber-attacks across the globe and in particular, the financial sector. This situation has necessitated Regulators to re-look into their Cyber Security Guidelines applicable to all regulated entities in an effort to protect the financial systems.
ld. Counsel for appellant has also raised an argument that the demand under MRSA cannot sustain for the period prior to 16.5.2008 when the transactions of the very same nature have been subjected to service tax under Information Technology Software Services after such services became taxable. It is to be stated that ITSS is not a category carved out of MRSA.
Binod Kumar Mahato Vs PCIT (ITAT Kolkata) The reasons for scrutiny selection through CASS, is to examine the cash deposits in savings bank account, as these are more than the turnover. The Assessing Officer stuck to these reasons and completed the assessment u/s 143(3) of the Act. Aggrieved with this order, the assessee carried the […]
