Sponsored
    Follow Us:

Ca Nitin Goyal

Latest Posts by Ca Nitin Goyal

New scheme of reassessment u/s 147- is it really reducing litigation

May 19, 2022 5472 Views 0 comment Print

Explore the impact of the new reassessment scheme u/s 147 under the Income Tax Act. Is it really reducing litigation and promoting ease of doing business? Find out.

Delhi HC Ruling on alleged More than Rs. 1 lakh Crore Income escaped assessment

May 19, 2022 12372 Views 1 comment Print

Analysis of Delhi HC Ruling on order passed under Section 148A(d) passed by order Delhi High Court in the case of Divya Capital One Private Limited Vs. ACIT, alleging income of more than Rs one lakh crore having escaped assessment.

Controversy surrounding allowability of Cess as expenditure

May 15, 2022 6774 Views 0 comment Print

Navigate the controversy surrounding the allowability of Cess as expenditure. Dive into the amendments brought by the Finance Act, 2022, shedding light on the retrospective implications, rectification proceedings, and potential legal ramifications. Stay informed on tax complexities.

Reassessment procedure for Section 148 notices after SC verdict

May 12, 2022 30657 Views 1 comment Print

Understanding the reassessment procedure for Section 148 notices after the Supreme Court’s verdict in Union of India Vs. Ashish Agrawal.

Decisions of GST Council in 43rd Meeting on 28th May 2021

May 30, 2021 1509 Views 1 comment Print

Article explains Summary of Decisions of GST Council in 43rd Meeting on 28th May 2021 1. Late Fees Amnesty Scheme for pending GSTR-3B returns (For the tax period July’17 to April’21) Category of Taxpayers Max Late Fees Taxpayers with Nil Tax Liability Rs. 500 per return Other taxpayers Rs. 1000 per return Condition- GSTR-3B to […]

Slump Sales to be carried at Fair Market Value

May 10, 2021 13866 Views 2 comments Print

Finance Act, 2021 made several significant amendments in many fronts. One of such amendment is with respect to scope of slump sale and computation of capital gains in case of slump sale with effect from assessment year 2021-22 (FY 2020-21). Section 50B of Income Tax Act, 1961 provides the special provision for computation of capital […]

Relief Measures announced in GST Compliances on 1st May 2021

May 2, 2021 41115 Views 4 comments Print

Relief Measures announced in GST Compliances In view of spread of pandemic COVID-19 (Issued vide gazette notifications dated 1st May 2021) 1. Waiver of Late Fees for delayed filing of GSTR 3B Return for the month of March & April 2021 [Notification No. 9/2021-CT dated 1st May 2021]: Late fees for delayed filing of GSTR-3B […]

Taxability on distribution of assets by a partnership firm to partners

April 29, 2021 108801 Views 8 comments Print

Comprehensive analysis of taxability on distribution of assets by a partnership firm to its partners on its dissolution or reconstitution Finance Act, 2021 made some significant amendments with respect to taxability of distribution of capital assets, stock-in-trade or money by a partnership firm to its partners on its dissolution or reconstitution, which has been discussed […]

Mandatory Claim of Enhanced Depreciation of 15% in case of Motor Vehicle

August 4, 2020 21144 Views 0 comment Print

Mandatory Claim of Enhanced Depreciation of 15% in case of Motor Vehicles (Acquired & put to use from 23rd August 2019 to 31st March 2020) In July 2019, Honorable Finance Minister Ms. Nirmala Sitharaman presented union budget for the financial year 2019-20 in the parliament. Subsequently the finance minister had announced several short and long-term […]

Extension of various time limits under Direct Tax Laws

June 25, 2020 9090 Views 0 comment Print

(Issued vide CBDT Notification No. 35/2020 dated 24.06.2020 read with Ordinance dated 31.03.2020) The Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31st March, 2020 which provided for extension of various time limits under the Direct Tax Laws. In order to provide further relief for making various compliances, the […]

Sponsored
Search Post by Date
July 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031