"June, 2021" Archive

TCS on sale of scrap – An unintended controversy

TCS on sale of scrap was introduced by the Government as a measure to ensure availability of data in rather unorganised sectors of the Economy. However, over time this has ended up becoming another litigated subject which has seen it’s fair share of controversies. An attempt has been made in this article to understand the […]...

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Posted Under: Corporate Law |

HSN & SAC Code Mandatory in Invoice & Form GSTR-1

HSN & SAC Code Are Mandatory In Invoice And Form GSTR-1 W.E.F.01.04.2021 Brief Notes on mandatory mentioning of HSN & SAC Code in Invoice and Form GSTr-1 as per amendments to GST Law, 2017 w.e.f.01.04.2021. Dear Professional Colleagues, Good Day to you. I have gone through recent changes about mandatory to mention HSN & SAC [&...

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Posted Under: Corporate Law |

Latest TDS / TCS Provision under Section 194Q & 206C(1H)

Article explains Provisions of Section 194Q and 206C(1H) of Income Tax Act, 1961 in Tabular Format. Its Explains Applicability of  TDS from TDS under Section 194Q will be applicable and Date since TCS under Section 206C(1H) is already applicable. Article explains provision of both these section  as comparative analysis for easy understa...

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Posted Under: Corporate Law |

Section 206AB – A new compliance burden on the deductor

This article deals with section 206AB of The Income Tax Act, 1961 which is going to be effective from 1st July, 2021. The practice of putting some other date instead of first day of the financial year from which the amendment could apply seems to be unexplainable and such provisions coming into effect from such date (not from the first da...

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Posted Under: Corporate Law |

How to Start Export Business | Basic Requirement & Benefits

With the increasing use of technology and liberalisation policy adopted worldwide, now a day whole world is like a business market place subject to that your product/ service meets the customer need/ requirements. There are many examples of this global market place like Alibaba E- Commerce platform is supplying China products globally usi...

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Posted Under: Corporate Law |

Anomaly in Re-Registration of Existing Trusts or Institutions U/S 12AB

In no case such existing registered trusts or institutions which have applied for re-registration by filling Form 10A under section 12A(1)(ac)(i) should be treated as trusts or institutions falling under 12A(1)(ac)(vi)....

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Posted Under: Corporate Law |

Assessment order passed in Name of non-existent person void ab-initio

DCIT Vs Late Ajit Kumar Vaddevalli (ITAT Hyderabad)

DCIT Vs Late Ajit Kumar Vaddevalli (ITAT Hyderabad) We find substance in the submissions of the ld. AR that the AO has passed the order in the name of late Ajit Kumar, nonexistent person, the information of which has been intimated to AO by the wife of assessee, who is the legal heir, during assessment […]...

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Section 263 Jurisdiction cannot be invoked on mere abrupt finding

CIT Vs Y. V. Subramaniam (Madras High Court)

CIT Vs Y. V. Subramaniam (Madras High Court)  On a perusal of the order passed by the Tribunal, it is clear that the Tribunal has categorically held that the order passed by CIT is based on no reason and he has simply given an abrupt finding that the assessment order is erroneous. Further, the Tribunal, […]...

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HC suggest Law firm to not to write on website/blog, in respect of proceedings, which are being prosecuted by such law firm

Society For Tax Analysis And Research Vs Union Of India & Ors. (Delhi High Court)

Society For Tax Analysis And Research Vs Union Of India & Ors. (Delhi High Court) The Delhi High Court, while considering a petition filed by Society for Tax Analysis and Research, a two-judge bench of the Delhi High Court has held that a law firm cannot report the details of the cases through their website/blog […]...

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HC grants Interim Bail to Person accused of wrongful ITC availment

Seema Jain Vs Joint Commissioner Central Goods And Service Tax Ludhiana (Punjab & Haryana High Court)

Seema Jain Vs Joint Commissioner Central Goods And Service Tax Ludhiana (Punjab & Haryana High Court) Prayer in this petition is for grant of anticipatory bail to the petitioner for offences under Section 132 (1) (b) & (c) punishable under Section 132 (1) (i) of the Central Goods & Service Tax Act, 2017, registered by [&hellip...

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