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...
Sunset date for claiming Income Tax exemption for SEZs – Time to further extend the sunset date mentioned under Section 10AA of the Income Tax Act, 1961 considering difficulties faced by SEZ Units to commence the production due to restriction placed for controlling pandemic Covid-19. Article explains Sunset date for claiming Income Tax exemption for […]
Exposure Draft on Covid-19-Related Rent Concessions (Proposed amendment to Ind AS 116, Leases) corresponding to Amendments in IFRS 16 issued by the International Accounting Standards Board (IASB) The implementation of high quality Indian Accounting Standards (Ind ASs) by Indian Companies is a monumental step in the accounting history of India. The Institute of Chartered Accountants of India […]
We are now in June, 2020 and India moves into the orbit of Lockdown 5.0 or Unlock 1.0 as most of the restrictions get lifted and businesses and life being allowed to move on, of course with Covid -19 on board. The economy has been announced to be opened up to a large extent, though […]
Companies need to examine all the expenditures specially related to employee welfare and safety and should evaluate eligibility of input tax credit considering obligations imposed by MHA. It may happen that department has different point of view on some credits. Hence, once need to examine all related aspects and facts of the businesses before come to final decision.
Introduction As we all are aware, the corona virus (COVID-19) is spreading all over the world rapidly and to break the chain of COVID-19, several precautionary measures suggested by Government like home quarantine, maintain social distancing, wear masks etc. In a recent judgment, the High Court of Punjab & Haryana, has taken up the matter […]
INTRODUCTION With the pandemic creating a turmoil worldover what is equally important now for Businesses is to plan their steps keeping in view the range of Risks that can walk across ones path. Challenges being faced by companies is quite known to the Regulators as they seek to bring more directions in Disclosures and Transparency. […]
As we were approaching nearer to the end of lockdown 4.0 , on 30th May 2020 , Ministry of Home Affairs (MHA) released a new guideline for reopening the nation (Unlock 1) in a phased manner, starting with None- Containment Zones. The Lockdown in the Containment Zones will continue till June 30, 2020. The Lockdown […]
In this article we will discuss in detail about Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) along with updated TDS Rate Chart and TCS Rate rate chart amidst the outbreak of COVID-19 and lockdown: TDS Compliances And Impact of Covid-19 Thereon TDS Deductor and Deductee TDS is basically income tax deducted […]
PRELUDE Recently, hundreds of companies have announced that they would be moving their bases from China to India. This has come amidst the allegations on China that it was responsible for the origin of the Corona Virus and had intentionally let the Virus spread across the world to gain political and financial advantage over other […]
Business is passing through an unprecedented time and incurring huge direct and indirect costs due to Covid 19 pandemic. Lockdown protocols have led to severe supply chain disruptions and labour shortages, hurting both the top and the bottom lines of almost all companies. Writing offs inventory with low shelf life or high storage costs or […]
