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Archive: 25 January 2022

Posts in 25 January 2022

GST on Works Contract

January 25, 2022 178182 Views 12 comments Print

Under GST laws, the definition of ‘Works Contract’ has been restricted to any work undertaken for an ‘Immovable Property‘ unlike the existing VAT and Service Tax provisions where works contracts for movable properties were also considered. The Works Contracts has been defined in Section 2(119) of the CGST Act, 2017 as “works contract” means a […]

Everything you need to know about the GeM portal

January 25, 2022 76812 Views 2 comments Print

Government e-Marketplace, shortly known as GeM, is a digital platform that enables buying and selling of goods and services. GeM portal is a paperless; contactless and cashless online marketplace.   The sole purpose of GeM is to enhance efficiency; transparency and speed in public procurement. In nut-shell, government departments/ agencies, being a registered buyer, procure […]

Format for sharing Income Tax queries on helpdesk E-mail IDs

January 25, 2022 3444 Views 5 comments Print

FORMAT FOR SHARING QUERIES ON HELPDESK E-MAIL ID Sr. No. Information Details Help Details of the Person facing problem 1 Grievance ID Mention Grievance ID, if already raised at e-fling portal 2 Name of the Person Mention name of the person who can explain the issue, if contacted by helpdesk team 3 Contact Number of […]

Revenue Authorities obligated to inform assessee about filing of appeal on wrong GST portal

January 25, 2022 6846 Views 2 comments Print

HC quashed the order of the Appellate Authority refusing the appeal filed by the assessee on the wrong GST portal. Further held that, uploading of an appeal may be before the wrong portal, but it is obligatory on the part of the authorities concerned in such an event to bring it to the notice of the assessee that the appeal has been filed before the wrong authority so that the necessary action can be taken.

EPFO Payroll data: EPFO added 13.95 lakh net subscribers in Nov, 2021

January 25, 2022 681 Views 0 comment Print

The provisional payroll data of EPFO released on 20th January 2022 highlights that EPFO has added 13.95 lakh net subscribers during the month of November 2021, showing an increase of around 2.85 lakh net additions over the previous month of October, 2021 with a growth rate of 25.65%.

HC cannot restrain sell of crypto currency namely “TATA coin/$TATA” outside India

January 25, 2022 1428 Views 0 comment Print

Tata Sons Private Limited Vs Hakunamatata Tata Founders (Delhi High Court) The plaintiff is a company incorporated in India. Though the plaint avers that documents showing involvement of the plaintiff, its subsidiaries and group companies in financial services including crypto currency, have been filed with the plaint, the documents with the plaint do not indicate […]

105 Union Budget 2021-22 Provisions implemented by Government

January 25, 2022 16809 Views 0 comment Print

Finance Act, 2021 has inserted specific section 89A in the Income-tax Act, 1961 to provide relief to NRI taxpayers who have an issue with respect to their accrued incomes in their foreign retirement accounts due to mismatch in taxation period.

बजट 2022 में हो स्वास्थ्य क्षेत्र के लिए प्रभावी कदम

January 25, 2022 1281 Views 0 comment Print

1 फरवरी को केन्द्र सरकार का 2022 का बजट आने वाला है और सभी क्षेत्र अपनी अपनी उम्मीदें व्यक्त कर रहे हैं और राहत का इंतजार कर रहे हैं. लेकिन तथ्य तो ये है कि जो अर्थव्यवस्था के हालात हैं और सरकारी राजस्व की स्थिति है, वह दयनीय है और ऐसे में सरकार टैक्स कम […]

Will property become Benami if you purchase in Relatives name?

January 25, 2022 36411 Views 1 comment Print

It is very common to purchase property in the name of our close relatives like spouse, children, parents and siblings. However it is important for us to understand from the legislative perspective, are we allowed to purchase the property in name of our relatives? If we are allowed to purchase the property on behalf of […]

Section 80EEA Additional deduction of interest payment on housing loan

January 25, 2022 21120 Views 1 comment Print

Section 80EEA of Income Tax Act: Additional deduction of interest payment in respect of housing loan (Co-related with Section 80EE & Section 24b of the Income Tax Act) A new Section 80EEA has been inserted by government to allow for an interest deduction from AY 2020-21 (FY 2019-20). The existing provisions of Section 80EE allow […]

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