Investing in the share market could be a scary thing. The temptation of making big money has always hurled the investors into stock markets. However, doing well with equities isn’t easy. It not just requires discipline and patience, but also a lot of research and a comprehensive understanding of the stock market, among others.
RBI has imposed, on February 27, 2018, a monetary penalty of ₹ 20 million on Indian Overseas Bank (the bank) for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to the aforesaid directions/guidelines issued by RBI.
What are different payment status types? 1. Initiated – If no intimation has been received from Bank (during the re-ping in case of E-payment) 2. Paid – CIN received by taxpayer and status updated on portal as PAID 3. Not Paid – default status on challan generation 4. Failed – Failure of any online transaction initiated by taxpayer
1. My account was debited more than once for the same online transaction. How can I get the debit reversed? If the sum of both transactions is reflecting in the Electronic Cash Ledger, please contact the Help Desk using the contact numbers/e-mail IDs given on the GST Portal. In case only the original transaction amount […]
1. What is Suo Moto Registration under GST? Where a person who is liable to be registered under GST fails to obtain registration, Tax Officials working in enforcement wings of their respective State/Central Tax Department, can initiate the process of generation and allotment of Temporary ID through the Suo Moto registration facility available to them […]
What is the process to cancel the GST registration in case of death of sole proprietor? How can a legal heir transfer the ITC to a new entity in case of death of sole proprietor?
Ever since the Internet was created there have been criminals who want to take advantage of it. Therefore, offenses against individuals or companies in order to cause harm or loss to the victim with the use of modern telecommunication networks are defined as cybercrimes. Basic precautions like firewall, antivirus, and regular security checks must become […]
Assessee-wife was not entitled to claim and be allowed exemption under Section 54 and 54 EC on the basis that both assessee’s being husband and wife had suo motu offered rental income equally in their returns of income and their intentions were that said property was a joint property and both of them having equal share therein because as per the recitals in the purchase and registered sale deeds of the aforesaid property, assessee-husband alone was the sole legal owner of the said property to the exclusion of all others, including his wife.
Finance Ministry: Robust growth in manufacturing and significant acceleration in construction mark a turnaround in the country’s economic growth momentum; Heralding an improvement in the investment climate, real gross fixed capital formation is estimated to grow at a robust 7.6 percent for 2017-18, accelerating from 6.9 percent in Q2 2017-18 to 12 percent in Q3 2017-18.
Through this article I try to bring the difficulties faced in claiming the “Refund of unutilized ITC” due to zero rated supply of goods/services under bond/LUT because of restricting the claim period for a tax period in the online application of the GSTN portal.
