CBIC vide Notification No. 08/2021-Union Territory Tax Dated: 1st May, 2021 provides Relaxation in the interest rate based on Turnover to those who have to file GSTR 3B and also to Composition dealers. Relaxation is for Tax Period ending on 31st March 2021 and for 30th April 2021. Ministry of Finance (Department of Revenue) (Central […]
CBIC vide Notification No. 01/2021-Integrated Tax Dated: 1st May, 2021 provides Relaxation in the interest rate based on Turnover to those who have to file GSTR 3B and also to Composition dealers. Relaxation is for Tax Period ending on 31st March 2021 and for 30th April 2021. Ministry of Finance (Department of Revenue) (Central Board of […]
Do you know that this IPL season you can win exciting prizes by just paying your credit card bills? CRED is a digital platform which rewards you for paying your dues with downright unbelievable rewards. As the official sponsor for the Indian Premier League for 2021, the company has decided to bust the gut with […]
1. Further to my article Taxability of Interest on Excess PF Contribution dated 11.02.2021, an attempt has been made in this article , to explain the new threshold limit of tax exemption and the manner of tax computation. The Government has increased the deposit threshold limit to ₹5 lakh per annum in the provident fund […]
10 Advisory Points by a CA which are generally not followed by SMEs and Public at Large 1) GST ♦ Amendment of GST Registration – Updating all Place of Business, HSN and SAC Code of new products / services, Bank Accounts, Change in Management and Authorised Signatories ♦ Voluntary use of 8 digit HSN Codes […]
Supreme Court in Reliance Energy Ltd., [2021] 127 taxmann.com 69 (SC) pronounced on 28-04-2021 has drawn distinction between ‘profits and gains derived from eligible business’ and ‘business income’ to explain the scope of deduction on profits and gains derived from eligible business.
Representation regarding bringing of GST Amnesty Scheme-2 to file the old GSTR 3B, GSTR-1 returns since July 2017 till date upto 30th September 2021 without any late fee or with nominal fixed late fee.
In this document we have discussed the amendment relating to Tax on Interest earned on PF/RPF, Late Fee on delay filing of Income Tax Return, Liable to Tax viz-a-viz Residential Status, Amendment in Equalization Levy. Under Part 1 we had provided amendment relating to Goodwill, Slump Sale, ULIP and Taxability on assets/stock/money received by Partner/member […]
The Hon’ble Supreme Court of India in Re: Cognizance for extension of limitation [Miscellaneous Application No. 665/2021 in SMW(C) No. 3/2020, dated April 27, 2021] extended the limitation period for the filing of cases in Courts and Tribunals w.e.f. March 14, 2021 until further orders in view of the steep rise in COVID-19 cases due […]
Considering the very grim phase the country is facing due to the phenomenal surge in Covid-19 pandemic and in order to support its stakeholders, the Company Secretaries Benevolent Fund w.e.f 1st May, 2021, has enhanced the medical reimbursement limits for those affected by Covid 19.
