One Photo of Inspector shall be captured with empty container in the background having only one door closed (door with container number) and container number shall be clearly readable in that photo. Another photo of Inspector shall be captured with sealed container with same container number on the door clearly readable.
1. Automation of Drop Proceedings for taxpayers suspended upon issuance of SCN in Form GST REG-17 ♦ A taxpayer is suspended on the portal if they do not file six or more consecutive monthly returns /quarterly returns (QRMP) for two tax periods in Form GSTR 3B are issued with a system generated notice for cancellation […]
Apeksha Gupta Sometimes there may be a mistake in any order passed by the Assessing Officer. In such a situation, mistake which is “apparent from the record” can be rectified under Section 154 within 4 years from the end of the financial year in which the order sought to be amended was passed. The word […]
As relates Section 5 of the Limitation Act showing ‘sufficient cause’ is the only criterion for condoning delay. ‘Sufficient Cause’ is the cause for which a party could not be blamed.
1. Income Tax Department brings reforms for Cooperatives! Alternate Minimum Tax for cooperative societies reduced to 15% to bring them at par with companies. Reduction of Alternate Minimum tax rate for cooperatives Announcement Currently, cooperative societies are required to pay Alternate Minimum Tax at the rate of eighteen and one half per cent. However, companies […]
The volume of complaints received under the Ombudsman Schemes/ Consumer Education and Protection Cells during the year 2021-22 increased by 9.39 per cent over the previous year and stood at 4,18,184 during the reported period.
Do you know, there are two principles to tax income. One is Residence Based Taxation and other is Source Based Taxation. As per Residence based Taxation, the country taxes persons based on their residential status.
The HoF based online address update in Aadhaar will be of great help to the relative(s) of a resident–like children, spouse, parents etc, who don’t have supporting documents in their own name to update address in their Aadhaar.
CBIC further amends Notification No. 61/94-Customs (N.T.) dated the 21st November 1994 vide Notification No. 01/2023-Customs (N.T.), Dated: 04.01.2023. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 01/2023-Customs (N.T.) Dated: 4th January, 2023 G.S.R. 9(E).—In exercise of the powers conferred by clause (a) of sub-section (1) read with […]
As per Section 129(1) of the Companies Act 2013, the Financial Statements shall give true and fair view of the state of affairs of the Company, comply with the accounting standards notified under section 133 and be in form as provided in Schedule III. For each class of equity share capital as per Schedule III […]
