Annual Return on Foreign Liabilities and Assets (FLA) Foreign Liabilities and Assets (FLA) Return is an Annual Return which is required to be submitted by those entities which have received FDI and/or made overseas investments in any of the previous years including the current year i.e., entities which have Foreign Assets or Liabilities in their […]
The Global Gender Gap Index was first introduced by the World Economic Forum in 2006 to benchmark progress towards gender parity and compare countries’ gender gaps across four dimensions: economic opportunities, education, health and political leadership. By providing country rankings, the report incentivizes comparisons across regions and countries and stimulates learning on the drivers of […]
COVID pandemic subsiding and GST Department Stepping up the Heat on the Assesses With COVID pandemic subsiding, the activities of GST department with regard to the scrutiny of the data filed for the year 2017-18 have increased. The GST assessees are getting communications from the GST department along with system generated excel files showing various […]
Applicability of Section 147 read with explanation 2(b) on the basis of AIR information regarding cash deposit with the Bank. Written Submission before the Hon’bleCIT(A), Faceless in respect of Sh. XXXXXXXXXXXXXX for the A.Y. 2012-13 [XXXXXXXXXXXXX] Appeal filed against the order of assessment u/s 144 made by ITO, Ward No. 2 (5), XXXXXXXXXXX dated 30.11.2019 […]
Is the Common Income Tax Portal Becoming Uncommon Part I has generated more than 525 shares and more than 60 comments across the nation evidencing the common problems faced with the new portal. Should we resort back to the old portal ? Why was the need of switching to the new 2.0 portal ? Whether […]
Reversal of ITC under Section 17(5)(h) of CGST Act in case of loss of input which is inherent to manufacturing loss is misconceived, as such loss is not contemplated or covered by situations adumbrated under Section 17(5)(h) of the CGST Act.
Prior to the amendment, an individual, being a person of Indian origin and who came on a visit to India during the previous year was considered as a resident in India only if his period of stay during the relevant previous year was 182 days or more (second basic condition was not required to be […]
Impact of Moratorium under section 14 of Insolvency and Bankruptcy Code, 2016 on Income Tax Proceeding It has become standard procedure for the Resolution Professional, appointed by the order of the National Company Law Tribunal (NCLT) writes a letter to the Assessing Officer of the Corporate Debtor attaching a copy of the order passed by […]
Machine learning (ML) is the study of computer algorithms that improve automatically through experience and by the use of data. 1. It is seen as a part of artificial intelligence. Machine learning algorithms build a model based on sample data, known as training data, in order to make predictions or decisions without being explicitly programmed to do so.
Applicability- GST Audit will apply every year for those GST registered business (GSTIN) having turnover more than Rest 2 crores, by the sale of goods or services in the financial year. Please note- For businesses with an annual turnover of less than Rs.5 crore, filing of GSTR-9C for FY 2018-19 and FY 2019-20 has been waived […]
