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Archive: June, 2022

Posts in June, 2022

GST: Detention: Petitioner entitled for return of surety bond & bank guarantee furnished upon deposit of 25% of penalty

June 11, 2022 2511 Views 0 comment Print

The petitioner shall be entitled for return of the surety bond and the bank guarantee furnished. If the petitioner, upon filing the appeal with the deposit as aforesaid, files with the first respondent, the details of the appeal and the deposit made, the first respondent shall within ten [10] working days from the date of receipt of such information, return the bank guarantee/surety bond furnished.

Why LLP is better than Private Limited Company?

June 11, 2022 7734 Views 2 comments Print

Discover the advantages of Limited Liability Partnerships (LLP) over Private Limited Companies. From cost-effectiveness and compliance to tax benefits and fund withdrawal flexibility, explore why an LLP might be a preferable business structure.

Senior Citizen – Exempt From Filing ITR

June 11, 2022 133752 Views 2 comments Print

Discover the ease for senior citizens in tax compliance! Learn about the exemption from filing Income Tax Return under Section 194P for individuals aged 75 and above, receiving pension and interest income. Conditions and benefits explained.

Applicability of GST on sale of used motor vehicles

June 11, 2022 234975 Views 8 comments Print

AAR ruled that the value to be considered for sale of used motor vehicle would be difference between Sale price & WDV on date of sale under Income Tax Act

Powers of Board & Restriction on Powers of Board – Companies Act

June 11, 2022 10125 Views 0 comment Print

Explore the powers and restrictions of the Board of Directors under Sections 179 and 180 of the Companies Act, 2013. Learn about the authority, limitations, and resolutions crucial for effective corporate governance.

Brief History of CARO & Applicability/Coverage of CARO 2020

June 11, 2022 24708 Views 0 comment Print

Companies (Auditor’s Report) Order i.e. CARO was first introduced in 1988, when central government first introduced Manufacturing and Other Companies (Auditor’s Report) order 1988, which later replaced by CARO 2003, CARO 2004, CARO 2015, CARO 2016 and now with CARO 2020.

GST on Interest Income of Individual & inclusion in aggregate turnover

June 11, 2022 13038 Views 0 comment Print

Interest income from variable capital contributed in Partnership firm-It is exempted services. However value of services is considered for aggregate Turnover under GST Act.

Value of Supply of Residential/Commercial Property with Undivided Rights of Land

June 11, 2022 1887 Views 0 comment Print

AAR Gujarat explains What Will Be The Value Of Supply For Sale of Residential/Commercial Property With Undivided Rights of Land

All about PAN-AADHAR linking: Post 31st March 2022

June 11, 2022 18396 Views 0 comment Print

If PAN is not linked with Aadhaar by March 31, 2023, then next year starting April 1, 2023, your PAN will become inoperative. Once your PAN becomes inoperative, your will not be able to file income tax return, open bank account, invest in mutual funds etc.

Case Analysis of V.K. Kaul Vs. Adjudicating Officer (SAT)

June 11, 2022 6379 Views 0 comment Print

Article analyse landmark case of V.K. Kaul v. Adjudicating Officer Securities & SEBI. This case was decided on 8th of October 2012 by SAT.

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