Introduction: Finance act, 2021 has introduced a new section 194Q w.e.f. 01.07.2021 which requires a specified buyer to deduct TDS w.r.t. purchase of goods from a resident seller. Who is liable to Deduction TDS: The buyer is responsible to pay a sum or Rs. 50 lacs or more for purchase of goods shall be liable […]
Here are list of some Unanswered Questions related to GST, which You must have encountered in last 4 years. Here it goes 1. Why Credit of CGST of other state not available in state in which Taxpayer is registered? 2. In refund in Export, Why ITC of CGST not allowed whereas ITC of Input services […]
Greetings to all Chartered Accountants on CA Day. This community has a vital role in India’s progress. I call upon all CAs to keep the focus on excellence so that Indian firms emerge as one of the best globally.
Ideal Surgicals Vs National Company Law Tribunal (Kerala High Court) The challenge in these original petitions is against the proceedings of the National Company Law Tribunal (NCLT), Kochi Bench. IBC, 2016 is a Single Unified Umbrella Code, covering the entire gamut of the law relating to insolvency resolution of corporate persons and others in a time […]
Summary of the Circular No. 13 of 2021 dated 30th June, 2021 regarding Section 194Q After the introduction of sub section (IH) of section 206C levying collection of TCS on sales above prescribed limits by specified seller w.e.f from 01.10.2021 the Central Board of Direct Taxes hereby brings another section for widening the scope of […]
As per the older concept, Business Process Outsourcing (BPO) is an overall framework in which similar and repetitive jobs are performed for a business which usually remains rigid in nature. India is a hub of BPOs and the KPOs were considered as a part of it.
Understand the process of transfer pricing assessment proceedings and how it impacts income-tax returns. Learn about the role of Transfer Pricing Officer (TPO) and options for resolving disputes.
AADHAR – PAN LINKING As per Section 139AA of the Income Tax Act, every person who has PAN as on July 1, 2017, is required to link his/her PAN with his/her Aadhaar number within the due date notified by the government provided such person is eligible to obtain an Aadhaar number. Also, every person who is […]
In re Jayesh Anil Kumar Dalal (GST AAAR Uttar Pradesh) In view of the above discussion, we hold that the services rendered by the Appellant to the State Urban Development Agency,Uttar Pradesh (SUDA), and For PMAY, are in relation to functions entrusted to Municipalities under Article 243W and to Panchayats under Article 243W of the Constitution […]
Members & Students Services Directorate The Institute of Chartered Accountants of India 2nd July, 2021 Important Announcement Further extension of the last date for Waiving-off Condonation Fees due to late filing of various application forms related to Students and Articled Assistants, amidst COVID-19 Pandemic Amid the current situation arising out of Covid-19, it is observed […]
