Section 5(2) of the CGST Act states that the interest under section 50(1) of the CGST Act shall be computed from the day succeeding the day on which such tax was due to be paid. Thus, calculation of the interest will be done from the next day of the due date of tax payment till the actual date of payment of tax.
Learn how to format a board resolution for closure of a current bank account. Get a certified true copy of the resolution passed at the meeting of the board of directors.
All CS Students of Foundation Programme (admitted prior to 3rd February, 2020) may note that the December 2022 will be the last session of Foundation Programme examination.
Income Tax Department carried out search and seizure operations on 15.06.2022 on a leading industrial group of Chennai, engaged in the business of manufacturing of IMFL, logistics, hospitality, entertainment etc. The search operations were carried out at more than 40 premises located in Chennai, Villupuram, Puducherry, Coimbatore and Hyderabad.
In consultation with Stock Exchanges and Depositories, it has been decided that all demat accounts maintained by stock brokers should be appropriately tagged.
Understand the impact of the CBDT circular on TDS on benefits or perquisites u/s 194R. Learn about the new section 194R and its implications on tax deductions.
Held that tribunal in assessee’s co-owner case has taken holistic view in adoption of fair market value as DVO has himself stated in his report that the impugned land was situated at a more appropriate location as compared to sale instances considered by him.
Merely because assessment order is cryptic one without discussing in detail nature of enquiry conducted and evidences furnished by assessee, it cannot be said that order is erroneous and prejudicial to interest of Revenue.
Overlooking the mandatory provision of law in the original assessment is apparent mistake of law which is rectifiable under section 154.
HC was not satisfied with cryptic unreasoned order three line order Passed by AO and Therefore, quashed and set aside the assessment order
