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Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!
Certain deductions Items allowed under Computation of Income to be only on actual payment as per the Provisions of Section 43B of act,1961 : Deduction in respect of following expenses are allowed only if payment is made on or before the due date for furnishing return of income u/s 139(1)1 of the previous year in […]
SOP for extension of time limit to apply for revocation of cancellation of registration: CBIC has issued Notification No. 15 /2021 – Central Tax dated 18th May 2021 and Circular No. 148/04/2021-GST dated 18th May, 2021 specifying Standard Operating Procedure (SOP) for implementation of the provision of extension of time limit to apply for revocation of cancellation of registration […]
The litigation in taxation matters is increasing on a rapid scale. However, where the transactions involves the foreign companies or their subsidiaries it is governed under the head of transfer pricing. The increasing participation of multi-national group in economic activities in the country has given rise to new and complex issues emerging from transactions entered in to between two or more enterprises belonging to the same multi- national group.
Ministry of Finance Recommendations of 43rd GST Council meeting COVID-19 related medical goods including Amphotericin B for free distribution given full exemption from IGST upto 31.08.2021 Custom duty exemption also given to Amphotericin B Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns ; Late fee also rationalised for future tax […]
Smt. Rontala Tirumala Vs ACIT (ITAT Hyderabad) ITAT finds that the statement of the M.D Shri Rontala Raji Reddy was recorded on 17.10.2014 i.e. a day after the survey on 16.10.2014 and the diaries impounded during the course of survey allegedly corroborated the statement. It is a settled position that no addition can be made […]
The broker should note that submission of necessary documents during Authority inspection, is the duty of the entity, to make the inspection effective. Further non submission of documents within the specified timeline may be construed as a deliberate attempt to restrict Authority’s inspection team from examining the functioning of the Broker. The Broker is cautioned for the lapse and advised that any recurrence of similar lapse will be viewed seriously in future.
As a result of Cyclones Tauktae,Yaas there are reports of loss of human lives and loss of belongings in the affected Districts of primarily in the states of Maharashtra, Gujarat, Odisha and West Bengal. In order to extend every possible facilitation in quick and timely settlement of life insurance claims, you are advised to take the following actions immediately in all the states affected by the said cyclones:
Understanding the validity of Section 148 notices issued after April 1, 2021. Learn about the impact of the new provision and its implications.
CSR which stands for Corporate Social Responsibility is a very related and relevant point of discussion amongst the professionals in the current scenario of the world specially in India. It has become a jargon amongst the companies. Through CSR, Companies can help the whole world sincerely and positively during the pandemic time as well as […]
Understand the tax implications in case of a deceased assessee. Learn about the computation of income, taxation of inherited assets, and deductions for the entire year.
