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Archive: July, 2023

Posts in July, 2023

Step-by-Step Guide to Obtain Certified Copies of Answer Sheets via RTI Online

July 9, 2023 8790 Views 0 comment Print

Learn how to get certified copies of your answer sheets using the RTI Online portal with our clear and concise step-by-step guide, which also includes a helpful application format sample.

Essential Guide to ROC Compliance List and Deadlines

July 9, 2023 10743 Views 0 comment Print

Navigate the complex world of ROC compliance with our comprehensive guide. Understand the purpose and deadlines of mandatory and event-based ROC compliances, including MBP-1, AOC-4, DIR-12, SH-7, and more.

Protecting Taxpayers: Safeguarding Against Fake Income Tax Notices

July 9, 2023 1962 Views 0 comment Print

Safeguard yourself from fake income tax notices in the digital age. Learn to verify notices with a Unique Document Identification Number (DIN) and utilize the official e-Filing portal for authentication. Stay cautious and follow the step-by-step process to ensure the legitimacy of communication. Protect your financial interests by adopting preventive measures.

Service tax not payable as mere use of word commission doesn’t mean seller has paid commission

July 9, 2023 1395 Views 0 comment Print

CESTAT Delhi held that mere use of the word “commission” in the clause dealing with terms of payment would not mean that “commission” was paid by the seller. The goods were sold on principal to principal basis and payment to buyer was expenses incurred by overseas buyer and not commission. Hence, service tax not payable.

Disallowance towards delayed payment of PF & ESIC unjustified as amount paid before due date of return u/s 139(1)

July 9, 2023 1122 Views 0 comment Print

ITAT Mumbai held that disallowance towards payment of PF & ESIC u/s 36(1)(va) unjustified as the amount is deposited before the due date of return of income u/s 139(1) of the Income Tax Act.

Addition towards on-money receipts sustained by invoking statue presumption u/s 292C

July 9, 2023 732 Views 0 comment Print

ITAT Pune held that addition towards on-money receipts sustained based on seized document by invoking the statute presumption under section 292C of the Income Tax Act.

TDS not deductible on rent payment made to person who is exempt from payment of tax

July 9, 2023 1404 Views 0 comment Print

ITAT Gauhati held that deduction of tax at source not liable as payment of rent was made to assessee who are not liable to pay tax in terms of exemption u/s 10(26) of the Income Tax Act. Accordingly, assessee cannot be held to be ‘assessee in default’.

Income Tax Assessment of Association of Persons & Body of Individuals

July 9, 2023 40047 Views 0 comment Print

Explore the nuances of Income Tax Assessment for Associations of Persons (AOP) and Bodies of Individuals (BOI) for the Assessment Year 2024-2025. Understand the computation of Gross Total Income, available deductions, applicable tax rates, and special incomes. Delve into the amendments proposed in the Finance Act 2023, including the introduction of Section 115BAC with revised tax rates. Stay informed about the latest tax slab for AOP and the surcharge rates. Get expert insights into the amendments and their implications.

Detailed Guide to Drafting a Handwritten Application for CA Exam Certified Copies

July 9, 2023 28626 Views 0 comment Print

Learn how to accurately draft a handwritten application to obtain certified copies of your CA exams. Our comprehensive guide includes a sample letter and important points to remember.

Corporate Social Responsibility – Detailed Analysis with FAQs

July 9, 2023 8004 Views 0 comment Print

Unlock the world of Corporate Social Responsibility (CSR) with a detailed analysis and FAQs. Learn what CSR entails, its benefits, and how it aligns with the Companies Act, 2013. Explore CSR committee functions, spending requirements, penalties for non-compliance, and more. Get insights into CSR activities, applicability, and examples from industry leaders like Starbucks. Stay informed with expert advice from Adv Rajbir Singh – IGTM Tax Advisory.

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