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"07 January 2022" Archive

ACAE Requested due date extension for filing Tax & TP Audit

Association for Corporate Advisers and Executives (ACAE) made a Request for Extension of Due Dates for filing Tax Audit and Transfer Pricing (TP) Reports to as follows:- 1) The due date of furnishing of Report of Audit under any provisions of the Act, which was 30 September 2021, and extended to 15 January 2022 is […]...

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Posted Under: Income Tax | ,

Request to extend due dates of Tax Audit Report & Other forms

Voice Of CA has made a Request for Extension of specified date of filing Tax Audit Report and other forms falling due on or before 15th January, 2022 to Smt Nirmala Sitaraman Ji, Hon’ble Minister of Finance, Government of India. Voice Of CA <[email protected]> Wed, Jan 5, 2022 at 12:52 PM To: [email protected] | Cc: […]...

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Posted Under: Income Tax | ,

UOI Vs. Exide Industries Ltd.: A Constitutionality Check on Section 43B(f) of Income Tax

In recent case of U.O.I v. Exide Industries, the Supreme Court looked over the constitutionality of clause (f) of section 43B which was challenged on the grounds that it defeated the dictum of Bharat Earth Movers case...

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Posted Under: Income Tax |

AAR West Bengal allows Withdrawal of application for advance ruling

In re Dwarka Prosad Agarwala (GST AAR West Bengal)

In re Dwarka Prosad Agarwala (GST AAR West Bengal) 1.1 At the outset, we would like to make it clear that the provisions of the Central Goods and Services Tax Act, 2017 (the CGST Act, for short) and the West Bengal Goods and Services Tax Act, 2017 (the WBGST Act, for short) have the same […]...

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GST on milling of food grains into flour for Food & Supplies Department, Govt. of West Bengal

In re Maa Laxmi Enterprise (GST AAR West Bengal)

In the instant case, value of supply shall be the consideration in money and shall also include all the components towards non-cash consideration, as discussed. This composite supply of services by way of milling of food grains into flour (atta) to Food & Supplies Department, Govt. of West Bengal for distribution of such flour under Publi...

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GST on construction of water distribution networks and operation & maintenance for Kolkata Municipal Corporation

In re Suez India Private Limited (GST AAR West Bengal)

In re Suez India Private Limited (GST AAR West Bengal) Whether the supplies provided by the applicant to Kolkata Municipal Corporation shall be considered as divisible supplies and what would be its taxability under the GST Act. The contract for water loss management made by the applicant with Kolkata Municipal Corporation which includes ...

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GST on milling of food grains into flour for distribution under Public Distribution System

In re Shiv Flour Mill (GST AAR West Bengal)

In re Shiv Flour Mill (GST AAR West Bengal) Whether the supply of service provided by the applicant to Food & Supplies Department, Govt. of West Bengal by way of milling of food grains into flour for distribution of such flour under Public Distribution System is eligible for exemption under entry No. 3A of Notification […]...

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AAR explains GST on Residential Real Estate Project & affordable residential apartment

In re Kayal Infra (GST AAR West Bengal)

In re Kayal Infra (GST AAR West Bengal) Whether the project which is currently under construction by the applicant can be treated as (i) Residential Real Estate Project (RREP) and (ii) affordable residential apartment and what shall be the rate of tax on such supply. (i) The project referred to in the instant application which […]...

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Sukanya Samriddhi Yojana and Taxation Benefits

As a part of ‘Beti Bachao Beti padhao’ campaign (Save girls, educate girl child campaign), Prime minister Shri Narendra Modi launched a scheme Sukanya Samriddhi Yojana ( Girl Child Prosperity Scheme) on Jan,22 ,2015. -Sukanya Samriddhi Yojana  (SSY) aims to tackle major problem associate with girl child- Education and Marriag...

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Posted Under: Income Tax |

Non Submission of Form 10IC prior to filing of ITR-6 by Companies opting 115BAA

Section 115BAA was introduced in Income Tax Act, 1961 through Taxation Laws Amendment Act 2019, in order to simplify tax laws, according to which companies were given option to pay tax at lower rates. As per sec 115 BAA (5), the option once exercised shall apply to subsequent assessment years. The company is required to […]...

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Posted Under: Income Tax |

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