"10 March 2021" Archive - Page 4

Amendment restricting Section 54 deduction to only one residential house is prospective

Sanjiv Ahuja Vs ITO (International Taxation) (ITAT Delhi)

Sanjiv Ahuja Vs ITO (International Taxation) (ITAT Delhi)  Deduction u/s 54 is restricted to only one residential house by the Finance Act 2014 is prospective in nature and is effective from assessment year 2015-16 and not retrospective in nature and that deduction u/s 54 of the Act in respect of investment made in one residential [&hell...

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E- Invoices for turnover exceeding Rs 50 Crores w.e.f. 01.04.2021

Sub-rule (4), (5) and (6) were inserted in Rule 48 (Manner of issuing Invoice) of the Central Goods and Services Tax Rules, 2017 (“CGST Rules”) vide Notification No. 68/2019 -Central Tax dated 13th December, 2019 in respect to generate e-invoice as under- “Rule (4) The invoice shall be prepared by such class of registered persons a...

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Posted Under: Income Tax |

16 Bullet Points on GST HSN Code Requirements wef 01.04.2021

16 Bullet Points to be taken care of while implementing HSN digits from the new financial year 2021-22 A major change for which the businesses have to gear up starting 01st April 2021 is mentioning of HSN codes on all the tax invoices. Major points to be considered for this new provision are as below: […]...

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Posted Under: Income Tax | ,

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June 2021