Goods and Services Tax : GST limitation periods for issuing notices or completing assessments are mandatory. COVID extensions were for litigants, not tax a...
Corporate Law : This research paper delves into the employment law challenges associated with remote work arrangements in India, exploring the leg...
Income Tax : Explore key court rulings on reassessment under Section 148 post-2021 amendments, covering procedural changes, taxpayer rights, an...
Finance : Explore the complexities of India's central-state taxation conflicts, fiscal policies, and solutions to improve tax allocation and...
Income Tax : The Supreme Court upholds TOLA, validating extended income tax reassessment timelines despite previous High Court rulings on Secti...
Income Tax : Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised...
CA, CS, CMA : Explore the challenges faced by Charitable Trusts due to delays or errors in submitting applications under Section 12A(1)(ac) of t...
Finance : Interim Budget Session 2024 sees high productivity with 12 Bills passed, Lok Sabha and Rajya Sabha exceeding performance targets....
Corporate Law : Stay vigilant against COVID-19 surge! Centre issues advisory to states, emphasizing vigilance, district-wise monitoring, and incre...
CA, CS, CMA : Join free BoS Live Learning Classes by ICAI for CA Final & Intermediate courses appearing in May 2024 exams. Get expert guidance a...
Income Tax : The Jodhpur ITAT condoned a 30-day delay in filing an income tax appeal after holding that the delay fell within the Supreme Court...
Goods and Services Tax : Dispute on ITC mismatch between returns was remitted after ex-parte order, allowing reconciliation upon 10% pre-deposit. Key takea...
Goods and Services Tax : The Court held that refund rejection on limitation grounds was invalid as authorities failed to consider the Supreme Court’s COV...
Income Tax : ITAT Hyderabad held that the Supreme Court’s COVID-19 limitation extensions apply only to judicial and quasi-judicial proceeding...
Company Law : The Appellate Tribunal upheld dismissal of a CIRP application after finding that the creditor’s own pleadings fixed the default ...
Income Tax : For claiming exemption Section 54 to 54 GB of the Act, for which last date falls between 01st April. 2021 to 28th February, 2022 m...
Company Law : After the Covid-19 pandemic no Company Secretary from far of places shown interest to come and join in a hospital business as the ...
Income Tax : CBDT specifies conditions for exemption to money received from employer or other person in Covid cases by family of deceased ide N...
Income Tax : Clause (XII) of the first proviso of clause (x) of sub-section (2) of section 56 of the Income-tax Act, 1961 provides that any sum...
Income Tax : CBDT specifies Document to be submitted by employee to claim exemption on sum received for COVID-19 treatment vide Notification No...
Physical Inventory Verification Key Audit Considerations amid COVID-19 Auditing and Assurance Standards Board (AASB) The Institute of Chartered Accountants of India A. BACKGROUND Physical verification of inventory is the responsibility of management of the entity. Management is required to establish procedures under which inventory is physically counted at least once a year to ensure existence, […]
In this period of economic difficulties, it is imperative for each business to evaluate possible measures to reduce the cost. One should closely look at all expenditure where input tax credit has not been taken in the past to evaluate if there exist possibilities of availing due to change in the law or judicial developments.
For Real Estate Sector, one of the most important aspect after introduction of Goods and Services Tax Act, is to calculate ‘Eligible Input Tax Credit’.
In this article, I have covered the need and relaxations provided by the Central Government on Residential Status in Circular no. 11 dated May 8, 2020. As per the provisions of section 6 of the Income-tax Act, 1961 ‘period of stay’ of an individual is used to determine the residential status of individual taxpayers. Ordinarily, […]
MCA circular dated May 05, 2020 applies to all the Companies which are required to hold their Annual General Meeting (AGM) for Financial Year ended on December 31, 2019 and March 31, 2020, as the case may be, during calendar year 2020.
The emergence of uncalled virus COVID-19 has already left a big hole in the economies all over the world including India. The virus has led to the worldwide shut in businesses and has become the matter of concern for the countries. The world is facing humanity’s biggest crisis since World War II. Almost every country […]
CA Prakash Suneja Amid Coronavirus pandemic a big challenge is for real estate sector. Real estate sector alone can change the economy of the country. After the lifting of lockdown it is a big challenge for the real estate sector for development and growth. If we see the opportunity side in the real estate sector […]
While on one hand recently recovered from Covid – 19 virus, Mr Boris Jhonson, Prime Minister England finally published their 50-page ‘road map’ plotting a route through three stages to get the country up and running followed by guidance for health and safety in workplaces. All workers are being urged to return to duties in sectors such as food production, construction, manufacturing, logistics, distribution and scientific research in laboratories.
Relaxation with the Procedure of Right issue The right issue has always been a lucrative option for companies for raising funds for them. These days the whole nation has its eye on the next big upcoming right issue of the Reliance Industries Limited (RIL). The right issue has been set up to raise Rs. 53,125 […]
The amount spent by a company towards CSR cannot be claimed as business expenditure. The Finance Act, 2014 provides that any expenditure incurred by an assessee on the activities relating to corporate social responsibility referred to in section 135 of the Companies Act, 2013 shall not be deemed to be an expenditure incurred by the assessee for the purposes of the business or profession. As per section 37(1) of Income Tax Act, 1961 the expenses incurred by the companies on CSR are taxable.
