"20 July 2021" Archive

HC directed to adjudicate matter before Tribunal as it involved adjudication on technical points w.r.t. business transactions

M/s. BAPL Industries Limited Vs Union of India (Maras High Court)

M/s. BAPL Industries Limited Vs Union of India (Madras High Court) HC directed to adjudicate matter before Tribunal as it involved adjudication on technical points w.r.t. business transactions In M/s BAPL Industries Limited v. Union of India [W.P. 27387/2011 and MP No. 1/2011 & 1/2013 decided on July 14, 2021], M/s BAPL Industries Lim...

Read More

Interest on late payment of service tax is compensatory in nature & shall be treated as a permissible deduction

DCIT Vs Planman HR (P) Ltd. (ITAT Delhi)

The Hon’ble ITAT, New Delhi in DCIT v. Planman HR Pvt. Ltd. (ITA No.5152/Del/2017, dated July 15, 2021) disposed of the appeal filed by the Revenue Department (Respondent) and upheld the order passed by the Commissioner of Income Tax (Appeals) (CIT Appeals), deleting the disallowance of INR 54,31,041/- being interest on late payment of ...

Read More

How to Calculate 5% Provisional ITC in Form GSTR-3B

Availment of ITC Credit for the Month of June-2021-How to Calculate 5% Provisional ITC in Form GSTR-3B as per the CGST Rule 36(4) Rule 36(4) restricts the availment of input tax credit beyond 5% of the ITC reflected in Form GSTR 2A/2B. However, as per Notification No. 13/2021-CT dated 1st May 2021 as amended by […]...

Read More
Posted Under: DGFT |

CBDT further relaxes e-filing of Forms 15CA/15CB

PRID=1737217 20/07/2021

As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorized dealer for any foreign remittance....

Read More

Validity of tax-Recovery just after passing of order of Appellate Authority

H.M. Leisure Vs State of West Bengal (Calcutta  High Court)

H.M. Leisure Vs State of West Bengal (Calcutta  High Court) It is trite law that when an appeal provision has been provided under the statute, the Authorities are not allowed to recover the amount payable unless there are extenuating circumstances. In the present case the dispute is with regard to classification issue, and therefore, I [...

Read More

How to link PAN with Aadhaar in new e-filing portal

Applicability and Benefits in filing of Income-Tax return | How to link PAN with Aadhaar in the new e-filing portal It’s that time of year again!! And if you think you are only required to file your income tax return if your employer has deducted TAX from your salary, then you are WRONG! Who has […]...

Read More
Posted Under: DGFT |

Minimum & Maximum age of Directors: an analysis

What should be the minimum age of a person to get directorship in a Company and the maximum age until which he can serve? Certainly, this is one of those questions which we often ignore, especially in case of Private Companies. However, it is pertinent to have conceptual clarity regarding the same. Now, let’s have […]...

Read More
Posted Under: DGFT |

Facilitating platform to comply with higher rates of TDS & TCS under 206AB & 206CCA of ITA

Facilitating platform to comply with higher rates of TDS & TCS under 206AB and 206CCA Finance Act 2021 introduced two new section 206AB and 206CCA of Income tax Act 1961 ’the Act’ with effect from 1 July 2021. The object being to increase the timely filing of income tax returns by resident assesses or non-resident […]...

Read More
Posted Under: DGFT |

Why Online Learning Is Best In Lockdown?

The COVID-19 pandemic has’ had a global impact in the past two years and continues to hit most sectors, with education being one of the hardest hit. Students from all over the world are losing valuable time in their education out of fear of the pandemic during the lockdown imposed. The situation forced institutions to […]...

Read More
Posted Under: DGFT |

Tips to Study CS Executive Tax Laws & Practice

If you are just starting your search for a query regarding the preparation of CS Executive Taxation Laws, then this blog will help you with some tips to gain confidence for your preparation. How to put together for taxation in the CS executive exam is often asked through CS executive aspirants. You would already know […]...

Read More
Posted Under: DGFT |

Search Posts by Date

July 2021
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031