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Archive: 09 June 2021

Posts in 09 June 2021

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6456 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Facts already disclosed in return cannot constitute incriminating material found during search

June 9, 2021 1122 Views 0 comment Print

ACIT Vs CMG Steels Pvt. Ltd. (ITAT Chennai) Facts already disclosed in return of income cannot constitute incriminating material found during search. Also held cross examination importance when requested without which addition becomes invalid In the present case, on perusal of facts available on record, we find that the AO has made additions towards unsecured […]

XBRL Returns Applicability to ND-NSI Category of NBFCs

June 9, 2021 40206 Views 6 comments Print

Brief Overview of XBRL Returns Applicability to the Non Deposit taking – Non Systematically Important Category of Non Banking Financial Companies (NBFCs) & other Important Provisions thereof XBRL stands for eXtensible Business Reporting Language. It is a language for the electronic communication of business and financial data which is revolutionising the business reporting around the […]

No relation between Section 8 of FEMA & Section 16 of IGST Act for realization of foreign exchange for export of goods

June 9, 2021 2649 Views 0 comment Print

nothing has been shown to the Court by the Revenue Department which would connect the provisions of Section 8 of the Foreign Exchange Management Act, 1999 (FEMA) with Section 16 of the Integrated Goods and Services Tax Act, 2017 (IGST Act). Further, held that the matter requires further examination and listed the matter on August 25, 2021.

Find Details of Mobile SIM purchased by Aadhaar Number

June 9, 2021 22587 Views 2 comments Print

Department of Telecommunications (DoT) has taken several measures to ensure proper allocation of telecom resources by Telecom Service Providers (TSPs) to subscribers and protect their interests in ensuring reduction of frauds. As per existing guidelines, individual mobile subscribers can register up to nine mobile connections in their name. This website has been developed to help […]

Section 206AB and 206CCA introduced in Finance Act 2021

June 9, 2021 89592 Views 7 comments Print

Understand the implications of Section 206AB and 206CCA introduced in Finance Act 2021. Learn about the applicability and rates of TDS/TCS.

Understanding Forex Transactions with Associated Risks

June 9, 2021 1269 Views 0 comment Print

Forex Transactions indicate the sale and purchase of foreign currencies. It is an agreement of exchanging currency of one country for the currency of the other at an agreed exchange rate on a pre-determined date.

Role of a Company Secretary in Gram/Nagar Panchayat/Nagar Palika

June 9, 2021 3993 Views 0 comment Print

Secretary/EO has a prominent and multifaceted role at the Panchayat Level which includes, but not limited to, the following: To ensure that a Panchayat remains effective and efficient in its functioning. To discharge a supervisory role on behalf of Government ensuring that the funds are used productively, and in the best interest of the villagers.

Old vs New Income Tax Regime: Which one you should choose?

June 9, 2021 94404 Views 1 comment Print

From Financial year 2020-21, taxpayers (Individuals and HUFs) has an option to choose between Old Tax regime and the new Tax Regime.  The new tax regime is available with lower tax rates and almost zero deductions/exemptions. Here is the quick comparison table between tax rates at different slabs under Old Tax Regime vs. New Tax […]

Additional Director Appointment

June 9, 2021 1533 Views 0 comment Print

Section 161(1) of the Companies Act, 2013 read with Companies (Appointment & Qualification of Directors) Rules, 2014. Above mentioned helps to clarify the provision of appointment of Additional Director alongwith term of appointment. Provision specified that if Article mentioned then power is in the hands of Board of Directors to appoint  Additional Director of the […]

ELSS-Equity linked saving scheme as tax saving investment

June 9, 2021 2529 Views 1 comment Print

Generally, investment under mutual funds does not yield any tax-saving benefit However, if you wish to avail the benefit of a mutual fund and also save some tax you can opt for ELSS( the abbreviated form for the equity-linked saving scheme) As the name suggests, Equity Linked Saving Scheme or ELSS is a type of […]

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