Manoj Agarwal

Section 87A Rebate – Income Tax Act – Detailed Analysis

Income Tax - As we all aware that, section 87A is considered as one of the most important section. Since the rebate is very important to reduce the tax Burdon of assessee. But in industry there is always a confusion or doubt faced by professionals on availing the rebate. Hence today I am coverig this topic with in […]...

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Major Relief to Small Taxpayer’s in GST

Income Tax - The Central Government has issued Exemption Notification No. 8/2017-CT(Rate) dated 28-06-2017 giving relaxation to Registered Persons under GST from major (and draconian) compliance required under section 9(4) of the CGST Act, 2017....

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Due Date for payment of GST for July, 17 is 15/09/17!!!

Income Tax - Article explains Due Date for filing GST Returns, Due Date for Payment of GST, Due Date for Payment of GST: Legal Analysis...

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How to E-Sign GST Enrollment Application using Aadhar Number?

Income Tax - The GST Enrollment Application can be signed either by using Digital Signature (DSC) or by E-Signing. The use of DSC is mandatory for Company & LLP and optional for others. Any person other than Company & LLP can E-Sign the application....

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Proposed Salient Features of New Income Disclosure Scheme for disclosing #blackmoney held as #cash

Income Tax - 1. Applicable for undisclosed income in the form of Cash or deposits already made or to be made in bank accounts. 2. Income Tax @ 30% of Cash + Surcharge @ 33% of Tax + Penalty @ 10% of Cash i.e. aggregating to 49.90% of undisclosed income (cash) (Section 199D & 199E) ...

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Exemplary Cost to be imposed on Commissioner, if precedent not followed while filing appeal: Bombay High Court

CIT Vs Proctor and Gamble Home Products Ltd. (Bombay High Court) - In a judgement dated 19-01-2015 in the case of CIT-8 Vs. Proctor and Gamble Home Products Ltd., the Hon’ble Bombay High Court while dismissing the appeal, passed stringent strictures and gave directions to the Revenue Authorities when the Revenue choose to persist with the Appeal...

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Recent Posts in "Manoj Agarwal"

Section 87A Rebate – Income Tax Act – Detailed Analysis

As we all aware that, section 87A is considered as one of the most important section. Since the rebate is very important to reduce the tax Burdon of assessee. But in industry there is always a confusion or doubt faced by professionals on availing the rebate. Hence today I am coverig this topic with in […]...

Read More
Posted Under: Income Tax |

Major Relief to Small Taxpayer’s in GST

The Central Government has issued Exemption Notification No. 8/2017-CT(Rate) dated 28-06-2017 giving relaxation to Registered Persons under GST from major (and draconian) compliance required under section 9(4) of the CGST Act, 2017....

Read More
Posted Under: Income Tax |

Due Date for payment of GST for July, 17 is 15/09/17!!!

Article explains Due Date for filing GST Returns, Due Date for Payment of GST, Due Date for Payment of GST: Legal Analysis...

Read More

How to E-Sign GST Enrollment Application using Aadhar Number?

The GST Enrollment Application can be signed either by using Digital Signature (DSC) or by E-Signing. The use of DSC is mandatory for Company & LLP and optional for others. Any person other than Company & LLP can E-Sign the application....

Read More
Posted Under: Income Tax |

Proposed Salient Features of New Income Disclosure Scheme for disclosing #blackmoney held as #cash

1. Applicable for undisclosed income in the form of Cash or deposits already made or to be made in bank accounts. 2. Income Tax @ 30% of Cash + Surcharge @ 33% of Tax + Penalty @ 10% of Cash i.e. aggregating to 49.90% of undisclosed income (cash) (Section 199D & 199E) ...

Read More
Posted Under: Income Tax |

Demonetisation: CG exceeded its powers under RBI Act!

Demonetisation: Article discusses do Central Government exceeded its powers under RBI Act by allowing hospitals, petrol pumps, etc to accept invalid notes?...

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Posted Under: Income Tax | ,

Whether GST Council is constituted without Powers & is ILLEGAL?

The Central Government has issued Notification dated 16-09-2016 whereby all the provisions of The Constitution (101st Amendment) Act, 2016 comes into effect from 16/09/2016. Section 1 is also effective w.e.f. 16/09/16, which gives power to the Central Government to issue notification for effecting the various provisions of the said Act. N...

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Posted Under: Income Tax |

GST on shares & securities- Even 1% rate may create Havoc

Central Government and the State Governments are going to be empowered to levy & collect GST on supply of shares & securities!!!! The levy of even 1% GST on sale/supply of securities may create havoc on the share markets....

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Posted Under: Income Tax | ,

No TCS on services despite value exceeding Rs. 2 Lakh

I am sure that you are completely surprised by the title because nobody has yet pointed out such an anomaly!! You heard it right and please do let me explain. The Finance Act, 2016 has amended Section 206C(1D) to provide that the seller shall collect the income-tax at the rate of 1% from the buyer on sale in cash of any goods or for provi...

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Posted Under: Income Tax | ,

Rate of Service Tax– Section 67A linked with POT Rules, 2011 to prevent disputes

The Point of Taxation Rules, 2011 (in short POT Rules) was introduced w.e.f. 01-04-2011 to define and determine the point of taxation (in short POT) i.e. point in time when a service shall be deemed to have been provided. The twin objectives was to bring certainty regarding due date for payment of service tax (on accrual basis) and to det...

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Posted Under: Income Tax |

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