Understanding Section 194R TDS on Benefits or Perquisites under Income Tax Act 1961. Learn about its objectives, implementation, and impact on tax base.
Gist and a Snap Analysis of SC Judgment – Union of India Vs Ashish Agarwal (Supreme Court), Appeal Number : Civil Appeal No. 3005/2022, Date of Judgement: 04/05/2022 1. The Union felt aggrieved due to the adverse outcome of several writ petitions which were filed on PAN India basis against notices issued u/s 148 of the Income […]
New ITD Portal is still not fully functional at its 100% level as a glitch free portal where many issues are encountered by many viz. people filing multiple ITRs u/s 139(1) for the same PAN, Incorrect upload of JSON files of one PAN in some other PANs, unable to download Income Tax acknowledgements and/or ITR forms after filing, validations of ITR Forms, Frequent changes in ITD utilities
Section 206AB changes as applicable from July 1,2021 -Declaration on filing of tax return for past years and linking of PAN with Aadhaar Government of India vide Finance Act 2021, has introduced a new section 206AB under the Act wherein a buyer is responsible to deduct TDS at higher rate (i.e., twice the rate as […]
HSN Reporting Changes I have in this article attempted to explain the changes in HSN Reporting from May 2021 in GSTR 1, as I feel that many members may have questions in respect of same. This is an effort to address and provide answers to select questions for the benefit of all. Table 12- Reporting […]
I have been watching lot of questions about use of SAC classifications in several groups. I am enclosing herewith list of illustrative SAC classification of services as applicable from July 1,2017. Please note that no specific exemption was available for non-quoting of SAC from the day one of GST Act 2017 Note: All users are […]
I have made an attempt to compile the following information in respect of QRMP Returns schema as I find lot of members have lot of questions in respect of same. It is just an attempt by me to address some aspects of scheme for the benefits of all. Points to be considered while filing GSTR […]
Confederation of GST Professionals and Industries has made a representation to the Hon’ble Finance Minister of India and Requested to grant Extension for GSTR 9 & 9C – Financial Year 2019-20 from 28.02.2021 to 31.03.2021. Relevant Extract of the same is as follows:- “To The Hon’ble Finance Minister of India Rajpath Marg, E Block, Central […]
All India Joint Representation Committee for GST have filed representation by way of join petition of 24 GST and Trade Associations and 5226 signatories to the signature campaign considering short extension granted in connection with GSTR 9 & 9C for FY 1819 & FY 1920 , Income Tax Returns, Tax Audit and Transfer Pricing Reports […]
53 GST and Trade Associations made a Joint Petition to FM and requested for Extension of due dates for GSTR-9 GSTR-9A & GSTR- 9C and Extension of Time limit u/s 16(4) for Financial Year 2018/19 and 2019/20. It further requested for extension of time limit for filing GSTR 1 & GSTR 3B of FY 1920 […]
