Akhilesh Kumar Sah articles

Foolproof Password changing system & e-filing of Returns needed

The continued emphasis on e-filing of ITRs & TDS Returns has given successful response to the electronic era in Income Tax system. As per Section 139D of the Income Tax Act, 1961, CBDT may make rules providing for:...

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Posted Under: Income Tax |

Launch ITR with e-filing utility for AY 2017-18 in First week of April

Right from the beginning there have been emphasis on the changing and incorporating the suitable provisions in respect of Income Tax Return (ITRs) forms. Going are the days for the manual filling and filing of the ITRs. There is continuous emphasis on the e-filing of the ITRs. ...

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S. 40(A)(3) Need to review proposed reduction in threshold limit from Rs. 20000 to 10000

Looking to the hard realities, practical problems of traders in respect of payments for the purchases for business, there was need to increase threshold limit of Rs. 20000/- instead it is proposed to be Rs. 10000/- w.e.f. from 1.4.2017(effective date i.e. from the start of the FY 2017-18)....

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Posted Under: Income Tax | ,

Practical Approach needed in GST Law

GST Law is in process of formation. There is need of removing laxity and absolute powers to authorities in respect of inspection, search, seizure, detention, suspicion etc....

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Posted Under: Income Tax |

Due Date of 30.09.2016: Enhancement From Practical Point of View

These days, in the era of e-filing of Income Tax Returns, there remains heavy pressure on e-filing portal around 30 September. It is being seen in last two years, the date of 30th September for filing of returns has been enhanced due to practical problems faced by assessees....

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Posted Under: Income Tax |

Accumulated Repairs Expense on Rented Premises-Deduction Allowable?

The term repairs generally means restoring a thing into a good condition.Etymologically, the word "repair" is derived from O. F. reparer which in its turn is derived from L re (repairer i. e. again to make ready). Repair is a comprehensive word which means "to make good defects" and which therefore must include renewal where that is neces...

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Posted Under: Income Tax |

Probably Last Chance in Near Future to Disclose Untaxed Income

The Central Government has given another tremendous opportunities in the recently launched its two schemes w.e.f. 01.06.2016 under Income Tax Regime. One is The Income Declaration Scheme, 2016 & another is in respect of reducing tax litigations under the Direct Tax Dispute Resolution Scheme, 2016. ...

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Posted Under: Income Tax |

Issue of Extension of Time For Filling Tax Audit Reports & ITR

There has been much controversy over the above issue. Much complications have taken place in comparison to earlier years in respect of filling of Audit Reports and as well as Income Tax Return. Some years ago, in the tax audit cases, the due date for filling was October which was reduced to September. Tax- payers are complying to the requ...

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Posted Under: Income Tax |

VAT on SIM Cards In U.P.

Under Uttar Pradesh Value Added Tax regime, the SIM Cards have been made specifically taxable w.e.f. 01.04.2011 @ 4% (plus 1% SAT), vide notification no. KA.NI.-2-421/XI-9(1)/08-UP Act -05-08-Or(71) dated 31.03.2011....

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Posted Under: Income Tax |

U.P. VAT Act/ Rules Requires Simplification

Everyone has to follows the laws of the land and unfollowing of the same attracts penalties, prosecution etc. Law is above all and everyone has to respect the respective / concerning / governing laws....

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Posted Under: Income Tax |

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June 2022