Confederation of All India Traders requested for deferment of implementation of levy of 12% GST on Textiles. As according to them increase in GST Rate on Textile is illogical and beyond the canon of GST tax structure particularly at a time when the domestic trade of the Country is on the verge of recovery from […]
‘Annual Information Statement’ enables the taxpayer to view and verify the information available with the Income Tax Department; in case of discrepancies, provide feedback and also view as well as update the ‘Taxpayer Information Summary’ which is used for pre-filing the Income Tax Return. “Off market credit transactions’ is one of the information categories covered […]
As we know, income tax return (ITR) for the Financial Year 2020-2021 (i.e., Assessment Year 2021-2022) is to be filed by 31st December 2021. Prior to the filing of income tax returns, importantly, the taxpayer is required to educate themselves about the newly introduced ‘Annual Information Statement’. ‘Annual Information Statement’ covers all the financial information […]
People usually crack the joke that the only thing you really “learn” in school is to memorize. As it turns out, this isn’t even the case for most of us. If you walk around the room and ask a handful of people how to quickly remember something and how to remember something, it’s likely to […]
National Pension scheme (NPS), Income tax deduction Section-80CCD(1), 80CCD(1B),80CCD(2) & form 16. Dear Reader, please find below the key summarized provisions on National pension scheme as they stand today on 26th Dec 2021. Rationale of NPS: Securing our future, by turning India from pension less society into one covered under pension program. Key points: 1. […]
In basic terms, trademarks are special, one-of-a-kind indicators that are used to identify a company’s goods or services. Designs, photos, signs, and even expressions can be used. It’s crucial since it sets your items apart from the competitors. It might be linked to your company or product. Trademarks are intellectual property, which means they are […]
Coforge Limited (Formerly Known AS NIIT Technologies Ltd) Vs ACIT (Delhi High Court) Conclusion: Commuted value of lease rent at 11 times the rent payable for 90 years @ Rs 708913/- which amounted to Rs 7798042/- was deductible as expenditure in the year of payment as assessee chose to incur the liability of a crystallised […]
A start-up company is a freshly created business entity formed by one or more entrepreneurs with the goal of developing and bringing a new product to market. It is an entrepreneurial enterprise with the goal of fast expanding as a consequence of providing services or products to a certain market segment.
Attention: Restrictions on availment of ITC as per GSTR-2A from 1st January 2022 . Arjuna (Fictional Character): Krishna, what is the new amendment that has been notified by the CBIC in respect of claim of ITC which will be applicable from 1st Jan 2022? Krishna (Fictional Character): Arjuna, Earlier taxpayer had been allowed to claim […]
Govt notifies Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund), Third Amendment, Rules, 2021 to amend Rule 6 of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 which relates to Manner of transfer of shares under sub-section (6) Of section 124 of Companies Act, 2013 to the […]
