Understand the concept of agriculture income under Section 10(1) of the Income Tax Act, 1961. Learn how it is exempted from total income calculation.
Today I will discuss how to handle show cause notice u/s 73, 74 & 76 of CGST Act, 2017 in simplified manner- Show cause notice (SCN) – is a document served by department as an opportunity to person to explain with reasons as to why particular course of action should not be taken against him. […]
Chartered accountants are perhaps the most popular course of study and are primarily chosen by Commerce students. Most Commerce candidates choose the CA program after passing their 12th. CA program in India is divided into three levels: CA foundation, CA Intermediate, and CA Final. The CA program consists of CA Certificate and mentoring – a […]
Central Govt provides further relief to taxpayers during these difficult Covid times by extending timelines of certain compliances. Here is a quick look at the list of compliances that have been extended by CBDT Circular No 12/2021, Notification Nos 74/2021 & 75/2021 dt 25.06.2021 EXTENSION OF TIME LIMITS FOR EASE OF TAX COMPLIANCE Compliances related […]
In a measure aimed to grant relief, Central Govt announces income-tax exemption to the amount received by a taxpayer for medical treatment for Covid-19, from employer or from any other person & on Ex-gratia amounts recd from employer or from other persons, on death due to Covid. Income Tax Exemption for Expenditure on covid treatment […]
Relaxations to the FBOs due to Covid-19 Pandemic Regulatory Compliance Division of Food Safety and Standards Authority of India (FSSAI) vide circular No. 15(6)2020/FLRS/RCD/FSSAI dated 23.06.2021 has decided to facilitate the FBOs and ensure ease of doing business by providing following extension in relaxations provided earlier vide FSSAI circular dated 2004.2021 due to spike in […]
Ministry of Corporate Affairs (‘MCA’) has, vide its recent Notification No. GSR 409(E) dated June 15, 2021, notified the amendment in Companies (Meetings of Board and its Powers) Rules, 2014. By the said amendment,Rule 4 has been permanently deleted. Please note that Section 173 of Companies Act, 2013 (‘CA, 2013’) allows to hold Board Meeting […]
Payment through adjustment of the books of accounts is a prevalent commercial practice which also finds support in Ind AS 32 which establishes the principles for offsetting financial assets and financial liabilities.
“Section 194C(1) :Scope of any work , explanation as income tax on income comprised therein , and total value of the work contract,TDS on reimbursement part explained by the Hon’ble SC in Associated Cement Company Ltd vs Commissioner Of Income-Tax … on 23 March, 1993 ‘194C(1). Any person responsible for paying any sum to any […]
e-book on Exempted goods and services under GST in India will help readers to keep themselves updated with changes related to the Exempted Goods & Services Tax under GST in India. This e-book will prove useful compilation and a good reference material as it compiles Alphabetically Notifications and Circulars related to Exempted Goods and Services […]
