In this editorial, author shall discuss one of all those restriction i.e. Whether Company can accept loan from Directors or any other person before filing of INC 20A
What is GSTR-9 Every registered person under GST is required to furnish an annual return specified under rule 80 of CGST rules, due to covid government has eased compliance for small taxpayers having the turnover of less than 2 crore from furnishing annual returns for the last three years. Even though annual returns represent a […]
On 20th July 2021, the Supreme Court, in a huge boost to federalism, struck down portions of the 97th Constitutional Amendment, that restricted state’s exclusive control over cooperative organizations, which is a key contributor to the national economy.
In Eko India Financial Services (P) Limited vs Assistant Commissioner of Income Tax in W.P.(C) 5819/2021 dated August 03, 2021 the Hon’ble Delhi High Court directed the Revenue (Respondents) to refund the amount adjusted in excess of 20% of the disputed demand for the Assessment Year (AY). Fact: Eko India Financial Services (P) Limited (Petitioner) […]
Availing Fake GST Input Tax Credit can provide short term benefit to businesses but in long run, it could have devastating effect. In above case, Mr Mohan has been witnessed greedy to avail credit of Rs 90,000/- and in long run, he has to face huge interest, penalty and fines imposed by the GST Department. We all should remember not to play with the intelligence level of any personnel of Tax Departments.
This Article covers Income Tax Act Provisions that are related to carry forward and set off of losses. All Losses arising from exempted sources of income cannot be adjusted against taxable income. If an income source is exempt, then the loss cannot be set off against any income that is taxable.
QUALIFICATION : GST practitioner is a qualified person who acts as a bridge between the GST System and the Registered Person. They assist the registered taxpayers in various GST related compliances. The list of qualified Person eligible to act as a GST Practitioner is given in Rule 83 of the CGST Rules 2017. A Person […]
Both in case of non-revenue bearing amendments like correcting any spelling mistakes, LCL/FCL, change in Container No. etc. or revenue bearing amendments, the Assessing Groups shall not call for physical documents, and amendment approval should be decided on the basis of supporting documents uploaded on E-sanchit.
Existing Form 18 has been replaced by Revised Form 18 to facilitate formation of Multi-disciplinary Partnership Firm of Chartered Accountants in Practice.
The Company Secretaries Examination will be held on 20th August, 2021,, as scheduled, as per the Time Table hosted on the lnstitute’s website. There is no change in Time Table as announced earlier.
