"09 August 2021" Archive

Supply of vouchers & it’s taxability under GST – Dispute Continues

As per our view, there might not be any GST implications on the issuance of vouchers unless underlying goods or services are actually supplied as consideration, which is received towards issuance of voucher is in the form of deposit only....

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Income Tax Calculator for FY 2021-22 in Excel for Salaried Individuals

Simple Income Tax Calculator for the Financial Year 2021-22 in Excel for Salaried Individuals. Tax Planning in the beginning of the Financial Year is always better instead of doing that at the end of the year in hurry. This will help the Individual to plan their Investments in advance and submit necessary documents to their […]...

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Payment to advertising agency attracts TDS under Section 194C

It is held that, TDS has to be deducted u/s 194C of Income Tax Act, 1961 (the IT Act) on payment made to advertising agency even if there is no written contract....

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Extension in period of modification of IEC till 31.08.2021

Notification No. 16/2015-2020-DGFT [S.O. 3204(E)] 09/08/2021

Period of modification of IEC is extended for the year 2021-22 only till 31.08.2021, and no fee shall be charged on modifications carried out in IEC during the period upto 31st August, 2021....

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DGFT extends trial period of CHIMS upto 30.09.2021

Notification No. 15/2015-2020-DGFT 09/08/2021

The trial period of CHIMS is extended by further two months i.e. upto 30.09.2021 and the registration at CIIIMS portal will be effective from 01.10.2021....

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Income Tax Calculator for Financial Year 2020-21 for Individuals

Republished with revised Simple Version Simple Income Tax Calculator for the Financial Year 2020-21 in Excel for Salaried Individuals. Tax Planning in the beginning of the Financial Year is always better instead of doing that at the end of the year in hurry. This will help the Individual to plan their Investments in advance and […]...

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GST ITC available on installation of Solar Power Panel as electricity so generated captively used for manufacture of taxable goods

GST ITC available on installation of Solar Power Panel as electricity so generated captively used for manufacture of taxable goods In the matter of M/s. KLF Nirmal Industries Pvt. Limited [Order No. 19/ARA/2021 dated June 18, 2021], M/s. KLF Nirmal Industries Pvt. Limited (Applicant) has sought the Advance Ruling before the Tamil Nadu Aut...

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Revenue cannot project a new case which was never part of assessment order

ACIT Vs Starwood (M) International Inc. (ITAT Delhi)

ACIT Vs Starwood (M) International Inc. (ITAT Delhi) Conclusion: In present facts of the case, while dismissing Revenue’s appeal, it was held that to prove case under Article 12 of India-US DTAA, no specification was given or limb was satisfied by the Revenue. Further, it was also held that no new facts could be entertained [&hellip...

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Income Tax, GST & Other Compliance Due Dates- August 2021

Income Tax Compliance Due Dates- August 2021 07 August 21 Due date for deposit of TDS/TCS for the month of July 2021. 14 August 21 Due date for issue of TDS certificate for tax deducted under Section 194-IA, 194-IB & 194-M in the month of June 2021 15 August 21 Quarterly TDS certificate (in respect […]...

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Summary of MCA Amendments, July 2021

Amendment THROUGH NOTIFICATIONS 1. RECTIFICATION OF NAME OF THE COMPANY MCA has issued a notification on 22nd July, 2021, Commencement of Section 4 of Companies (Amendment) Act, 2020. As per notification, it will came into effect from 1st September 2021. A. ANALYSIS OF NOTIFICATION – (Amendment in Section 16) By this notification,...

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