When any sum is payable as a result of any order passed under the Act, then the Assessing Officer shall serve upon the assessee a notice of demand U/s 156 specifying the sum so payable. Whereas Section 143 (1) is itself deemed as notice of demand & demand notice U/s 156 need not to be […]
Extract of Rule 142A of Central Goods and Service Tax Rules, 2017 as inserted vide Notification No. 60/2018-Central Tax Dated 30th October, 2018. 142A. Procedure for recovery of dues under existing laws. – (1) A summary of order issued under any of the existing laws creating demand of tax, interest, penalty, fee or any other […]
MCA decided to relax the additional fees payable by companies on e-forms AOC-4, AOC (CFS) A0C-4 XBRL and e- Form MGT-7 upto 31.12.2018, wherever additional fee is applicable.
Mumbai Based well known Firm of Chartered Accountants needs CAs to work in field of recently enacted GST Act, 2017 and in the field of Audit (Statutory, Internal, Tax) with post qualification experience from 0 to 10 Years.
1. Applicability of Section 44AD Any business which has a turnover of less than Rs. 2 crores can opt for presumptive taxation under this section. Following class of businesses are out of scope of Section 44AD. – Life Insurance Agents – Commission of any kind – Running the business of Plying, Hiring or leasing Goods […]
Form 16 becomes quite a topic of discussion in all office campuses during the tax filing season. Though we know that Form 16 is for tax filing, many of us still find it hard to understand the components of Form 16 while filing the return. Understanding Form 16 is the key to better tax planning.
GST Council met 30 times, took 918 decisions since its Constitution; 96% of decisions already been implemented through 294 Notifications Till date, the Goods and Services Tax ( GST) Council has taken 918 decisions related to GST laws, rules, rates, compensation and taxation threshold etc. More than 96% of the decisions have already been implemented […]
ITBA doesn’t allow generating 143(2) notice in the cases of 148 reopening before 1 month of filling of return. Even though the return is filled by the assessee and objections are rebutted within 15 day, AO cannot issue 143(2)
Bhupendra Murji Shah Vs. DCIT (Bombay High Court) We are not concerned here with the Circular of the Central Board of Direct Taxes. We are not concerned here also with the power conferred in the Assessing Officer of collection and recovery by coercive means. All that we are worried about is the understanding of this […]
CBIC issues clarification on the procedure to be followed in respect of return of time expired drugs or medicines under the GST laws vide Circular No. 72/46/2018-GST Dated 26th October, 2018.
