Income Tax : Original Income-Tax Act, 1961 was well drafted by learned officials in Finance Ministry and it was capable of meeting the expectat...
Goods and Services Tax : Please refer to the meeting held between your good self and office bearers of Punjab Tax Bar Association in which various issues w...
Goods and Services Tax : Inconsistency in GSTN Portal, ie fields available in login of one dealer is not available in the login of other dealer. Option to ...
Goods and Services Tax : Majority of Business Expenses are liable for tax under Reverse Charge Mechanism (RCM) in GST. Even though liability to pay tax und...
Income Tax : Income-Tax Law Has Been Made More and More Complicated In Every Budget Mr. Modi Govt. in Budget 2017 has made the Income-Tax law m...
Original Income-Tax Act, 1961 was well drafted by learned officials in Finance Ministry and it was capable of meeting the expectation of the Government. in all future events, except requiring amendments for events and changes taking place in this 21st Century.One side Income-Tax Departments. says that only assesses e-mail address should be provided to enable […]
Please refer to the meeting held between your good self and office bearers of Punjab Tax Bar Association in which various issues were discussed point wise in very healthy atmosphere. This information was passed on by member PTBA Punjab to ATL. It was really appreciable for the concern shown by your good self towards the problems discussed.
Inconsistency in GSTN Portal, ie fields available in login of one dealer is not available in the login of other dealer. Option to chose composition scheme & cancellation of registration not available, even though composition scheme opted, it is not reflected in RC issued & getting message to file Form No.3B.
Majority of Business Expenses are liable for tax under Reverse Charge Mechanism (RCM) in GST. Even though liability to pay tax under RCM is in the hands of service receiver under GST, in practice such registered dealers are collecting tax from the service provider while making payments to them.
Income-Tax Law Has Been Made More and More Complicated In Every Budget Mr. Modi Govt. in Budget 2017 has made the Income-Tax law more complicated. On One side Income-Tax Deptt. says that only assesses e-mail address should be provided to enable them to file returns voluntarily. On the other hand, CBDT amending Income-Tax law in […]
Regulating a profession by imposing conditions for admission inevitably reduces the supply potential of professionals. Therefore, a rough balance between supply and demand for professional services should be maintained. Regulation of Tax Professionals should be similar to that of consumer protection.
It would be difficult to have a well-functioning tax system without tax advisors. Because most taxpayers are not familiar with the intricacies of the tax laws, tax advisors are needed so that taxpayers can fulfill their complicated tax obligations.
In conclusion, only person licensed to practice law in India should issue Audit Certificate under GST Law. If such authority for Appearance & audit given to Chartered Accountants, situation may arise that order of assessing authority in proposed GST Law, passed against the audit & representation of Chartered Accountant become in-fructuous, bad in law, null & void,
Advocate B.S.K.RAO (1) When the Deptt. is taking so much of security measure for e-filing of tax returns through only Assesses Digital Signature Certificates etc., person filing the return in the capacity of Individual, HUF and Artificial Juridical Person should only appear & produce records in support of return filed, against notice issued by the […]
In this computer era, all records of business enterprises are maintained in computers and voluntary compliance of return filing U/s 139 of Income-Tax Act are also sought in digital format. Return preparation utilities are provided by the Deptt. so that there may not be any instance of wrong claims or deduction, unless there is bug in the utility provided.
