Charges collected under the Unparallel Health Insurance Scheme are to be considered as advance towards the provision of the health care services to the subscribers of this scheme, and accordingly, any amount collected towards this scheme will not be subjected to levy of GST
Unlock the intricacies of GSTR 9 and 9C reporting for FY 2021-22, as the December 31, 2022 deadline approaches. Explore applicability, exemptions, and prerequisites for taxpayers. Dive into key changes from optional to mandatory reporting, including detailed tables and specific disclosures. Ensure your GST compliance is streamlined with insights into credit notes, exempted supplies, RCM ITC, HSN-wise summaries, and more. Stay informed and compliant with the latest reporting requirements.
Unravel the complexities of leave encashment with a comprehensive guide. Understand the types of leaves – earned, sick, maternity, etc., and explore the tax implications of leave encashment. Delve into the Income Tax Acts provisions, exemptions, and taxable amounts. Learn the computation process and exemptions for government and non-government employees. Stay informed about thresholds, salary averages, and other key factors influencing leave encashment taxation.
The e-KYC setu shall be a system put in place by National Payments Corporation of India (NPCI) to enable verification of identity of a client or its beneficial owner by a reporting entity through authentication under the Aadhaar Act without disclosing the Aadhaar number of the individual to the reporting entity.
Lokmangal Nagri Sahakari Path Sanstha Maryadit Vs PCIT (ITAT Pune) In the present case, we find that admittedly the interest income was earned from the cooperative banks, the cooperative bank is also a specie of cooperative society, therefore, the interest income earned by the cooperative society from the cooperative banks qualifies for deduction u/s 80(P)(2)(d) […]
Shri Arunoday Multi State Cooperative Credit Society Ltd. Vs PCIT (ITAT Pune) The issue in the present appeal relates to the validity of assumption of jurisdiction u/s 263 by the ld. PCIT. The Parliament had conferred the power of revision on the Commissioner of Income Tax u/s 263 of the Act in case the assessment […]
Dive into the legal intricacies surrounding the eligibility of oxygen for concessional sales tax rates in the case of State of Jharkhand v. Linde India Limited. The Supreme Court clarified that for a product to qualify as raw material, it must go into and be found in the end product. Oxygen, used as a refining agent to reduce carbon content in steel manufacturing, was deemed ancillary and not a raw material.
Uncover the intricacies of Impairment Loss in accounting through Ind AS 36. Delve into the objective of the standard, ensuring assets are valued appropriately. Explore how tangible and intangible assets face degradation over time and the significance of recording this in financial statements. Understand the factors contributing to impairment, such as technological changes or disposals.
Dive into the complexities of remuneration for Directors in a company. Understand the distinctions between Managing, Executive, and Non-Executive Directors. Explore the regulations set by the Companies Act, 2013, regarding managerial remuneration. Learn about the various methods of payment and the limits imposed by net profits. Delve into the calculation of maximum remuneration based on share capital and profits, along with the consequences of non-compliance.
Karnataka High Court directed restoration of GST registration as non-payment of GST and non-filing of GST return, on account of bonafide reasons, unavoidable circumstances and sufficient cause du;u accepted
