"14 April 2021" Archive - Page 3

All Sections of GST Law For Fraudulent Practice by Taxable Person Like Fake Invoicing /Bogus Billing

All Sections of GST Law For Fraudulent Practice by Taxable Person Like Fake Invoicing /Bogus Billing INPUT TAX CREDIT’ Section 16 (2): Eligibility and conditions for taking input tax credit (2) Notwithstanding anything contained in this section, no registered person shall be entitled to the credit of any input tax in respect of any ...

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Special Provisions for non-filers of income Tax Return (Higher Rates of TDS/TCS)

Section 206AB:– Special provision for deduction of TDS for non-filers of income Tax Return at Higher Rates (Sec-51 of Finance Bill:-After section 206AA of the Income-tax Act, the following section shall be inserted with effect from the 1st day of July, 2021) Section 206CCA:– Special provision for collection of TCS for non-file...

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Reasons why you should start investing today

If one is sure that he wants to invest but is unaware of the right time to begin investing, then this article is surely for you. Most of the studies and surveys made towards this came to a conclusion that the earlier you invest, the greater are the profits recorded by you. The best time […]...

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Rotation of Directors i.e. retire by rotation under Companies Act 2013

Every professional have confusion regarding rotation of Directors I.e. Director Retire by Rotation so let’s make it simple: – Applicable Section: – Section 152(6) of companies Act, 2013 Eligibility: This section is applicable on only Public company and Private limited Company which is subsidiary of a public Company (Deemed P...

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Check How Much Income Tax Is Paid By You

Form 26AS Can Be Verified And Seen By Different Modes As Below:- Through Logging in at e-filing portal. ♦ Login to e-filing portal at www.incometaxindiaefiling.gov.in ♦ Go to ‘my account’. ♦ View ‘Form 26AS (Tax Credit)’. ♦ Confirm to redirect to “TDS TRACES CPC’ website. ♦ Click on “Vie...

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ITAT grants stay on demands of Rs. 3786 Cr on account of DDT

Grasim Industries Limited Vs DCIT (ITAT Mumbai)

Grasim Industries Limited Vs DCIT (ITAT Mumbai) By way of this stay application, the assessee applicant has sought a stay on collection/ recovery of tax and interest demands aggregating to Rs 3,786.34 crores in respect of the dividend distribution tax (DDT), and interest thereon, under section 115O/115Q r.w.s. 2(22)(a) of the Income Tax...

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GST E-invoice- How to handle the ERP scenario where sales accounting entry is posted in the books but IRN generation has failed due to any IRP validation error ?

GST E-invoice- How to handle the ERP scenario where sales accounting entry is posted in the books but IRN generation has failed due to any IRP validation error? Imagine a situation where the transaction is sent for IRN generation to the IRP and due to any reason or any validation error, the IRN generation Fails […]...

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Benefit of conditional exemption Notification cannot be denied on pretext of unconditionally exempted

The Hon’ble Tripura High Court in Union of India v. M/S. Dharampal Satyapal Ltd. [Central Excise Appeal No.01/2019 and Central Excise Appeal No.02/2019, dated March 22, 2021] upheld the judgment passed by the CESTAT, Kolkata allowing the assesse to avail the benefit of notification granting conditional exemption from the of the duties o...

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Managing Director and Whole Time Director in a Private Limited Company

The Companies Act, 2013 does not mandates a Private Company to appoint Managing director, Whole-Time Director or Manager. It also does not prohibit voluntary appointment of Managing Director, Whole-Time Director or Manager by the Private Companies for efficient management of their businesses....

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How to apply for corrections in TAN data 

STEPS FOR ONLINE CHANGE REQUEST Step – 1 Visit: https://tin.tin.nsdl.com/tan/changeRequest.html Read the guidelines carefully and click the drop-down and ‘select’ the appropriate tax entity seeking correction of TAN data, below the section ‘Apply for changes or correction in TAN Data’. Step – 2  Fill t...

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