"August, 2022" Archive - Page 3

GST Recovery proceedings initiation without notice is unsustainable

Anantham Silks Vs State Tax Officer (Madras High Court)

HC Held that in the present case the department vide Form GST DRC-09 issued communication to the bank to recover the due from the petition u/s 79 without issuance of notice u/s 74(1) and without giving opportunity of being heard is not proper....

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Statutory and Tax Compliance Calendar for September, 2022

Article compiles due dates for GSTR-1 Return, GSTR-3B , GSTR TRAN-02, TDS Payment, Issue of TDS Certificate for tax deducted U/s. 194-IA /194-IB , Furnishing of Form 24G by an office of the Government, Issue of Quarterly TDS Certificate, Advance Tax, Form 3CEK, Furnishing of challan-cum-statement in respect of tax deducted U/s. 194-IA and...

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Section 148A Income Tax Notices are time barred for A.Y. 2017-18

Anup Agarwal Vs ACIT (Rajasthan High Court)

Anup Agarwal Vs ACIT (Rajasthan High Court) Notices under section 148A of Income Tax are time barred for Assessment year (A.Y.) 2017-18, Rajasthan High Court Stays the operation of the Notice. Section 149 of the Income Tax Act states as under:- Section 149: Time limit for notice 1) No notice under section 148 shall be […]...

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Residential Status – Short Stay Exemption – Complete Understanding

What is short stay exemption? As the name suggests, short stay exemption is leeway given to resident individuals staying for short term in overseas country. Short stay exemption is available to an individual being resident of a country, staying in overseas country for less than 183/90 days during a tax year. Such an exemption is […...

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8 Benefits of Having Insurance Policy

Insurance is a contract of indemnity in which an individual or entity receives to hedge against the risk of financial losses from an insurance company from damage to the insured property, or from liability for damage or injury caused to a third party. How does Insurance Policy Work in India? Insurance is a way of […]...

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Income Tax Refund adjusted against Outstanding Demands- What to do? 

Guide to Follow When Income Tax Refund Gets Adjusted with Prior Outstanding Demands  Article explains Procedure of Filing an Appeal before Commissioner of Income Tax (Appeals), Orders Which Are Appealable by Assessee before Commissioner of Income-tax (Appeals), Fees For Filing Appeal Before CIT (Appeals) and Documents To Be Submitted for...

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How To File an Appeal before Commissioner of Income Tax?

Article explains Procedure of Filing an Appeal before Commissioner of Income Tax (Appeals), Orders Which Are Appealable by Assessee before Commissioner of Income-tax (Appeals), Fees For Filing Appeal Before CIT (Appeals) and Documents To Be Submitted for Appeal before Commissioner of Income-tax (Appeals). Any person or an assessee who is ...

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Roadmap of Director Identification Number (Allotment, KYC & Changes)

DIN (Director Identification Number) is a unique Identification Number allotted to an individual who is appointed /proposed to be appointed as a director of a company or designated partner in a Limited Liability Partnership (LLP). In the case of a new company, an application for allotment of DIN shall be made only through SPICe + [&hellip...

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Know Your Compliances under SEBI Regulations & Companies Act, 2013

What are Compliances? Compliance simply means being in accordance with the established guidelines or specifications, rules and regulations laid by the authorities or the process of becoming so. With the introduction of the Companies act, 2013 the compliance and disclosure requirements of the companies has increased and will be increasing ...

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All about Company Audit

Chapter X (Sections 139–148) of the Companies Act, 2013 (CA 2013) deals with the provisions related to audit and auditors. Few of the sections not been discussed in details because which are related to procedural matters and Govt Audits.  Section 139: Appointment of auditors First appointment of auditors – to be done by BoD within [&...

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