Depreciation could not be disallowed due to assets were not in use as assessee had not close down the business but it was not going on because of illegal strike by the workers and therefore manufacturing had been stopped temporarily.
Tax Bar Association, Jodhpur has requested Finance Minister to Kindly extend the date falling on 31.03.2020 to 30.06.2020. Meaning thereby that last date to file belated income tax return for the assessment year 2019-20 and to file revised return for the same assessment year be extended to 30.06.2020 from 31.03.2020. We understand this will require […]
Cancellation of all train Services by Indian Railways in the wake of COVID-19 1. In continuation of the measures taken in the wake of COVID-19, it has been decided that all passenger train services on Indian Railways including Premium trains, Mail/Express trains, Passenger trains, Suburban Trains, Kolkata Metro Rail, Konkan Railway etc shall be cancelled […]
Download the Justification Report from TRACES portal to view your latest outstanding demand. On downloading the Justification Report.Use Challan ITNS 281 to pay the above with your relevant Banker or use any other Challan, which has adequate balance available
Given below is year wise Price of Gold in India in last 86 year. In the initial period, the price of gold was around Rs 18.75 per 10 gm of gold. Now it reaches to value of Rs 26400 per 10 gm of gold. Its a huge rise in price of gold. Investing in gold can most probably will not disappoint you. Here is the price history list, in which the price given are for 10 gm of gold.
Announcement Exemption from Completion of Orientation Course (OC) and Information Technology Training (ITT) before admission in Practical Training on or before 30th April, 2020. The Council at its meeting held on 20th March, 2020 invoked the powers under Regulation 205 of The Chartered Accountants Regulations, 1988 and decided to pass the resolution to grant one-time […]
Officers of Anti-Evasion, CGST, Delhi East, have unravelled an operation involving availment of fraudulent Input Tax Credit on the basis of fake invoices and evasion of GST by utilizing the said fraudulent ITC to the tune of Rs. 24 crores apprx by M/s Shub Conductors LLP. Investigation was initiated against Shub Conductors LLP on intelligence […]
Who is liable to deduct TDS u/s 194J? What is the point of deduction of TDS u/s 194J? At what rate tax to be deducted u/s 194J? Under what circumstances there is no need to deduct TDS u/s 194J? What is the meaning of professional Services in reference to S. 194J?
In this Budget, from 1 June 2016, The transactions are sale of a motor vehicle of value exceeding Rs.10 lakh, and receipt of money for sale of goods or provision of services exceeding Rs.2 lakh. In such cases, besides the sale price, the seller is required to collect an additional 1% from the purchaser, and pay it to the government.
Article explains What is meant by cost of acquisition (Section 55), Cost of Acquisition with Reference to Certain Modes of Acquisition (Section – 49), What is meant by cost of improvement, If the assessee acquires any asset by way of inheritance, partition of HUF or by any other mode specified in sec 49(1) and sec […]
