"07 September 2021" Archive

CBDT allows taxpayers an opportunity to file application for settlement

Release ID: 1752930 07/09/2021

In order to dispose off the pending settlement applications as on 31.01.2021, the Central Government has constituted Interim Board for Settlement vide Notification no. 91 of 2021 dated 10.08.2021....

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GST Implication On Export of Goods & Service

INTRODUCTION:- The aim of Indian government is to increasing the output and quality of export from India in pursuance to the “Make in India” policy. Indian government also provide the many incentives to the exporters which are explain below. WHAT IS EXPORT INCENTIVES:- Export incentives are certain benefits exporters receive from the ...

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Posted Under: Income Tax |

Appointment and Qualification of Directors

A director is a person duly appointed to the Board of a Company, collectively called as Board or Board of Directors. The Board is responsible for the management of affairs of a company. They have the responsibility to act in the best interest of the company. Although, directors act on behalf of the company but […]...

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Posted Under: Income Tax |

GST Appellate Authority revokes cancellation of GSTIN after payment of pre deposit

Sahayta Security Services Pvt Ltd, Vs Asst. Commissioner State Tax & (GST Appellate Authority, Himachal Pradesh)

Sahayta Security Services Pvt Ltd, Vs Asst. Commissioner State Tax &amp (GST Appellate Authority, Himachal Pradesh) GST Appellate Authority revokes cancellation of GSTIN as It is made clear in the section 107 (7) that after amount of pre deposit paid by appellant, recovery proceeding for balance amount shall deemed to be stayed. Issue...

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Income Tax Audit – Section 44AB – Applicability, Penalty & Due Date

What is an income tax audit under section 44AB? In India, various laws govern different types of audits like statutory audit, stock audit, cost audit. The core purpose of these audits is to ensure that the books of accounts are free from any error mentioned in the particular law. Similarly, Income Tax Act provides for […]...

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Posted Under: Income Tax |

How To Deal With Failure In CS Exam?

Be it CA, CS, or other professional exams; Students experience high levels of stress and anxiety. The situation worsens when, unfortunately, one or more objects or attempts fail. Sometimes, even if you prepare well, the results are unexpectedly bad. This is frustrating for any student and, if not treated fairly, can affect their future pe...

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Posted Under: Income Tax |

Scrap sales not forms part of total turnover: HC

CIT Vs Tweezerman (India) Pvt. Ltd. (Madras High Court)

CIT Vs Tweezerman (India) Pvt. Ltd. (Madras High Court) The short question involved in the instant case is as how to compute the total turnover while considering the claim for exemption under Section 10B of the Act. The assessee is engaged in the manufacture of certain articles which are being exported and during the manufacturing [&helli...

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Corporate Compliance Calendar for September 2021

CORPORATE Compliance CALENDAR  covers Compliance under Income Tax act, 1961, Compliance under Goods & Services Act, 2017, Compliance under Other Statutory Laws (PF, ESIC, Under Factories Act, 1948 and Contract Labour Regulation and Abolition Act, 1970 )  and Quarterly Compliances under SEBI (LODR) Regulations 2015....

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Madras High Court annuls FIR against three Ex-Directors of IL & FS but refrains from providing ‘Clean Chit’

In Ravi Parthasarthy and Ors. v. State of Tamil Nadu [CRL. O.P. NOS. 3730, 4227, 4095 & 11206 OF 2021 CRL. M.P. NOS. 6647, 6649, 2218, 2601, 2679, 3388, 6708 & 6709 OF 2021 W.P. NO. 1397 OF 2021 AND W.M.P. NO. 5917 OF 2021 dated August 31, 2021]], Ravi Parthasarthy (Petitioner No. 1), Hari […]...

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Posted Under: Income Tax |

ICAI notifies Panel for scrutiny of nominations for elections

Notification No. 54-EL(1)/11/2021 07/09/2021

ICAI hereby notifies that the Panel for the scrutiny of nominations for elections to its Twenty Fifth Council and Twenty Fourth Regional Councils to be held in December, 2021,...

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