Everyone was too much occupied and concerned for sudden rise in GST Rates for textile industry, certainly another rise was also made in GST Rates for the contractors dealing in Government Contracts. Such rise has been made by CBIC through notification number 15/2021 (CTR) dated 18th November 2021 by amending principal notification number 11/2017 (CTR). […]
Article explains Meaning of DIN or DPIN, Legal Framework of DIN, Authority accredited for DIN Allotment, Procedure for Obtaining DIN, Forms for DIN application and modification, How to fix an issue of Provisional and Rejected DIN Applications and Frequently Asked Question Regarding DIN Allotment, Application, and Modification. A. Meaning of DIN or DPIN DIN: Director […]
No addition under section 68 for cash amount explained by assessee as derived from sale of agricultural produce (Assessment Year: 2009-10) – [Naresh Kumar v. ITO Date of Judgement : 08.03.2019 (ITAT Delhi)] Assessee has explained source of the cash deposit in the bank account. Copies of the bills of sale of agricultural produce are […]
What documents should be maintained by the taxpayers to comply with the requirement of maintenance of books of accounts as per Section 44AA? The following documents should be maintained by the taxpayers to comply with the requirement of maintenance of books of accounts: Nature of Business or Profession Threshold Limits Books of Accounts to be […]
Credit Rating is an opinion of a particular agency known as credit rating Agency regarding the ability and willingness of an entity (Government, Business or Individual ) to fulfil its financial obligations in completeness and within the established due dates. It is very difficult for an individual investor to gather details about credit worthiness of […]
After getting much awaited extension on the eve of 11th January, for filing of tax audit reports and ITR, consultants and taxpayers are now relieved for a while. In fact, many of us are already busy in making plans for long weekend of Makararsankarti, Lohri etc festivals holidays. Whenever such extension of time limit is […]
Every transaction has to be looked into independently for the purpose of determining ceiling of Rs. 50,000 for requirement of generation of e-way bill: Allahabad High Court. Hon’ble Allahabad High Court, in the case of Shri Surya Traders v. Union of India, Writ Tax No. 1146 of 2021, Allahabad HC (SB) has passed a detailed […]
As intimated during the Union Budget, the income tax department has launched the ‘Annual Information Statement’ on 1st November 2021. Basically, the ‘Annual Information Statement’ is an All-in-one statement that comprehensively covers all the details of the financial transactions undertaken by the taxpayer in a particular Financial Year. The current article briefly explains one of […]
1. 01.2022 has changed the dynamics for managing the cash-flows as far as the businesses are concerned. No businessmen can take the risk of default in filings/payments under GST as far as the self-assessed liabilities are concerned. We say so for the following reasons. 2. W.e.f. 01.01.2022 the entire GST cycle has been tightened. The […]
Intellectual property involves the creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce. As a form of property right, intellectual property can be considered as assets that can be bought, sold, mortgaged, exchanged, and licensed like physical property.
