"22 September 2021" Archive

Income Tax Payable on Salary of a person staying in India for more than 182 days

Tapas Kumar Basak Vs Assistant Director of Income Tax, International Taxation-II & Ors (Calcutta High Court)

Tapas Kumar Basak Vs Assistant Director of Income Tax, International Taxation-II & Ors (Calcutta High Court) Tapas Kumar Basak (Petitioner) has challenged the impugned order dated January 25, 2007 passed by the Director of Income Tax (International Taxation), Kolkata (Respondent) treating the Petitioner as ‘Resident’ for h...

Read More

CSR expenses incurred to make donations to Trusts eligible for deduction

JMS Mining Pvt. Ltd. Vs PCIT (ITAT Kolkata)

JMS Mining Pvt. Ltd. Vs PCIT (ITAT Kolkata) Current appeal has been filed against the order dated March 30, 2021 (Impugned order) passed by Ld. Principal Commissioner of Income-tax (Respondent) under Section 263 of Income Tax Act, 1961 (IT Act). It is challenged on the ground of the invocation of jurisdiction by the Respondent without [&h...

Read More

GST: Section 16(2)(aa) – Proposed Most Dangerous Amendment

Section 16(2)(aa) of CGST Act, 2017 was inserted vide Section 109 of Finance Act, 2021 applicability of which is yet to be notified.  Extract of Proposed Section Section 16(2)(aa) of CGST Act, 2017  is as follows:- (aa) the details of the invoice or debit note referred to in clause (a) has been furnished by the […]...

Read More
Posted Under: Income Tax |

Dispute of Intermediary in GST Continued

Recently circular issued -159/51/2021-GST-Clarification on doubts related to scope of ‘Intermediary’ but I failed to understand doubts cleared or continued… First of all, Definition of Intermediary –’Intermediary means a broker, an agent or any other person, by whatever name called, who arranges or facilitates th...

Read More
Posted Under: Income Tax |

Taxability of composite supply of works contract services to Govt Entities

An analysis of the taxability of composite supply of works contract services to Government Entities In today’s world, the government of the countries are vigorously engaged in discharging its duties of ensuring welfare and development of the state as well the economy. In order to successfully achieve that, the central government, state ...

Read More
Posted Under: Income Tax |

GSTR 2A/GSTR 3B Mismatch under GST

Since the introduction of GST in 2017, the state and central departments have aggressively pursued assessees on the grounds of mis-match between the data reported on the GST portal under GSTR 2A and GSTR 3B. The officials have denied ITC to the assessees merely on the basis of such mis-match reports. This issue has been […]...

Read More
Posted Under: Income Tax | ,

Clarifications on contentious GST issues by CBIC

The GST Council in its 45th meeting in Lucknow on 17 September 2021 discussed a host of issues which required taxpayers clarification at the earliest and keeping up with efforts to streamline and ease the compliance procedures with clarity, CBIC issued following 3 circulars on 20th September 2021 to give effect to the GST Council [&hellip...

Read More
Posted Under: Income Tax |

GST evasion & fraudulent ITC availment -SCN not issued in many cases

Instruction No. 02/2021-22 (GST-Investigation) 22/09/2021

A detailed analysis to pursue trends in cases of GST evasion & fraudulent ITC availment booked viz-a-viz number of SCNs issued against for the FY 2017-18 [w.e.f. July, 2017], 2018-19 & 2019-20, have been made and it is observed that in GST evasion cases booked and in the Fraudulent ITC cases booked, during the above mentioned period, SCNs...

Read More

Exercise of control not relevant for Classification From Promoter To Public Group: SEBI

No. SEBI/HO/CFD/CMD-1/P/OW/2021/25194/1 22/09/2021

Board of directors of the Company has received Letters from a constituent of promoters and promoter Group in the matter of Re-classification of their shareholding from Promoter category to Public Category. Stock exchanges shall permit reclassification of status of a promoter to public only upon compliance with the procedural requirements ...

Read More

PFRDA (Custodian of Securities) (Amendment) Regulations, 2021

Notification No. PFRDA/12/RGL/139/10 22/09/2021

These regulations may be called the Pension Fund Regulatory and Development Authority (Custodian of Securities) (Amendment) Regulations, 2021....

Read More

Search Posts by Date

October 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031