"21 July 2021" Archive

Representation on 39 issues relating to GST

All India Federation of Tax Practitioner has made a Representation on various issues relating to GST to   Finance Minister, CBIC Chairman and GST Council. It raised 39 issues which need immediate attention of the Government for issuing clarifications/circulars/notifications/amendments in law for ease of doing business, better compliance ...

Read More

Check List for Scrutiny of Books for Tax Audit Purpose

Check List for Scrutiny of Books for Tax Audit Purpose For Assessment Year 2021-2022 Step 1: Check and Verify the opening Balances of each ledger as per previous year signed Balance-sheet a) Is there any difference in Opening Balance Yes/No b) If there is any difference, as stated in (a) above, kindly fill the details: […]...

Read More

Validity of Notice Under Section 148 Issued in the Name Of Deceased Person

A notice under section 148 can only be issued in the name of an alive person. In case the assessee is dead and notice is issued in his or her name, then the same is non est in the eyes of law. An order passed in continuity of such a notice is also invalid and […]...

Read More

Relaxation in timelines for compliance with regulatory requirements by Debenture Trustees

SEBI/HO/MIRSD/CRADT/CIR/P/2021/597 20/07/2021

Relaxation in timelines for compliance with regulatory requirements by Debenture Trustees due to Covid-19 As per the Circular No. SEBI/HO/MIRSD/CRADT/CIR/P/2021/597 issued on July 20, 2021, SEBI relaxes the timelines for compliance with regulatory requirements by Debenture Trustees due to Covid-19. 1. As per SEBI (Debenture Trustees) Regu...

Read More

Validity of Section 148 Notices Issued After 31st March 2021

The Finance Bill, 2021 after being passed by the Parliament and getting the assent of the President on 28th March 2021 has become the final law very much in force from 01 April 2021 of which each & every section is legally enforceable and applicable in toto....

Read More

What SEBI wants you to disclose in your Research Reports

All individuals and entities who are engaged in providing recommendations to its clients by way of research reports are required be registered with SEBI under SEBI (Research Analyst) Regulations, 2014 (RA Regulations) and comply with the provisions of the said regulations. A Research Analyst before issuing research report is required to d...

Read More

Valuation and Pricing of Shares (Quoted/Unquoted Shares)

Under 1. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018; 2. SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 3. Companies Act, 2013 and Rules Thereunder; 4. Income Tax Act, 1961 and Rules Thereunder And 5. Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outsi...

Read More

Challenges of Navigation on New E Filing Portal 2.0

Income Tax E Filing portal is an interactive platform between the tax department and the tax payer\assesses for not only filing the income tax returns but also for submitting various other forms and carrying out tax compliances to scrutiny notices, submissions before first appellate authority. The CBDT vide Press release dated May 20, 202...

Read More

GST Registration Liability, Compulsion Time Limit & Exemption

GST is the biggest tax reform of the Country that subsumed various taxes in a single tax. With the introduction of GST the cascading effect has been abolished. It is an indirect nature tax applicable on the supply of goods or services or both. The taxable event of GST is supply. The CGST Act, 2017 […]...

Read More

Clarification on extension of limitation under GST Law in terms of SC Order dated 27.04.2021

Circular no. 157/13/2021-GST 20/07/2021

This is to apprise of a recent circular bearing no. 157/13/2021-GST, dated 20th July, 2021 issued by the CBIC for ‘Clarification regarding extension of limitation under GST Law in terms of Hon’ble Supreme Court’s Order dated 27.04.2021’ as follows: Hon’ble Supreme Court has provided for extension of limitation vide an order date...

Read More

Search Posts by Date

June 2022
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930