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Archive: 13 December 2022

Posts in 13 December 2022

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 807 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7518 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Unlinked PAN Will Become Inoperative From 01.04.2023

December 13, 2022 15507 Views 6 comments Print

As per sec 139AA of income tax act 1961, every person who has been allotted PAN as on 01.07.2017 and who is eligible to obtain Aadhaar Number have compulsorily link their Aadhaar and pan on or before 31st March 2023 With paying late fee as per Circular No. 7/2022 dated 30/3/2022. As per Income tax […]

GST Annual Return Changes For F.Y. 2021-2022

December 13, 2022 16311 Views 3 comments Print

Explore the latest changes in GST Annual Return for F.Y. 2021-2022. Uncover details of FORM GSTR-9, including six parts and 19 tables, ensuring compliance with the updated regulations.

How to Prepare GST Annual Return From Table 4 to Table 19

December 13, 2022 13413 Views 0 comment Print

Learn how to prepare GST Annual Return (GSTR-9) with detailed guidance from Table 4 to Table 19. This comprehensive help content covers filing NIL returns, online/offline filing options, mandatory filing requirements, and table-wise assistance. Discover specifics on advances, inward and outward supplies, ITC availed, ITC reversed, tax payments, and late fees.

GST liability on Commission Agents/brokers

December 13, 2022 132537 Views 6 comments Print

Unlock insights into GST liability on commission agents/brokers with a comprehensive analysis. Understand the nuanced aspects of intermediary services, including their definition, classification, and tax implications.

Partial relaxation with respect to electronic submission of Form 10F

December 13, 2022 5934 Views 0 comment Print

Partial relaxation with respect to electronic submission of Form 10F by select category of taxpayers in accordance with the DGIT (Systems) Notification No. 3 of 2022.

Property Valuation for Capital Gain Tax

December 13, 2022 24828 Views 4 comments Print

Explore the intricacies of Property Valuation for Capital Gain Tax through a detailed case study. Understand why valuation is essential for various purposes, such as visa applications, bank loans, tax filing, disputes, construction, and more. Delve into the factors and points considered during valuation, including location, property type, and fair market value. Stay informed about the Cost Inflation Index for accurate calculations and gain insights from an experienced Registered Valuer.

TDS not deductible on Roaming Charges under section 194J

December 13, 2022 1158 Views 0 comment Print

Unitech Wireless (Tamilnadu) Private Limited Vs DCIT (ITAT Delhi) ITAT in assessee’s own case has considered identical issue and held that no TDS was to be deducted in case of roaming charges u/s 194J of the Act by holding as under:- “22. To conclude, The primary issue in the appeal was whether the roaming charges […]

25% disallowable on ad-hoc basis cannot be considered as reasonable/rational

December 13, 2022 1656 Views 0 comment Print

ITAT find that if the expenses are proved to be un-genuine on verification, the AO ought to have disallowed the entire expenditure. Accepting 75% of expenditure as allowable and the remaining 25% disallowable on ad-hoc basis cannot be considered as a reasonably rational order.

Disallowance u/s 40A(3) for non-production of bills- ITAT restricts Addition at 10% of such Purchases

December 13, 2022 1530 Views 0 comment Print

Velankanni Constructions Vs ACIT (ITAT Chennai) The assessee being resident firm is stated to be engaged in civil construction. The assessee could not produce bills or voucher for blue metal jelly purchase, brick purchase and sand purchase. The reasons adduced were that the assessee undertook work at remote places and was dependent on local supplies. […]

RCM on Works Contract Service not applicable to corporate assessee

December 13, 2022 1800 Views 0 comment Print

TDK India Private Limited Vs Commissioner of CGST & Excise (CESTAT Kolkata) Regarding Works Contract Service, it has been observed in the impugned order that w.e.f 01.07.2012, vide Notification No. 30/2012-ST, the reverse charge mechanism for Works Contract Service was introduced. I find that this Notification is applicable to individual/partnership firm and Hindu Undivided Family […]

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