Who is the most important living person that you have met in your life so far? Many of you may mention many names. Are they really? But I say you go and stand in front of a full-size mirror and see whom you see there. Yes. You see your own reflection in it and you […]
On 28th May’2021, Friday GST council’s 43rd meeting took place which was long due from February ’2021. So, after a gap of about 7 months (last held in Oct’20) finally the meeting took place. In the meeting finance minister Mrs. Nirmala sitharaman also announced about “Amnesty scheme” along with few other things. There were lot […]
43rd GST Council meeting outcome : 8 Key highlights dated 28th May, 2021 The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman via video conferencing today i.e. 28th day of May, 2021 via video conferencing in New Delhi. Union minister of state (MoS) for finance Anurag […]
Respected Sir , My submissions are as under relying the provision of section 273B of the Act, 1961 as there is every reasonable cause with the assessee which is argued in writing detailed as under before you . Basically assessee is a farmer and in possession of sufficient agriculture lands . He is earning agriculture […]
Products of spontaneous growth are not products of Agriculture and income derived from them is not agriculture income . Where human skill and labour on land is involved continuously are products of Agriculture and income derived can be considered as agriculture income . Demarcation pronounced by the Hon’ble SC in the judgment of The CIT […]
Income from the following house properties are exempted from tax: 1. Any one palace or part thereof of an ex-ruler, provided the same is not let out [Sec. 10(19A)]. Tax-point: If the ex-ruler has a house property and the part of which is self-occupied and remaining let out then only the self occupied part of […]
The study examines the concept of threshold inflation and defines it as the long run equilibrium rate of inflation that maximizes the steady state growth within the relevant range of values. The empirical findings of the study broadly confirm higher threshold inflation and higher growth in emerging market economies than in advanced economies.
Certain deductions Items allowed under Computation of Income to be only on actual payment as per the Provisions of Section 43B of act,1961 : Deduction in respect of following expenses are allowed only if payment is made on or before the due date for furnishing return of income u/s 139(1)1 of the previous year in […]
SOP for extension of time limit to apply for revocation of cancellation of registration: CBIC has issued Notification No. 15 /2021 – Central Tax dated 18th May 2021 and Circular No. 148/04/2021-GST dated 18th May, 2021 specifying Standard Operating Procedure (SOP) for implementation of the provision of extension of time limit to apply for revocation of cancellation of registration […]
The litigation in taxation matters is increasing on a rapid scale. However, where the transactions involves the foreign companies or their subsidiaries it is governed under the head of transfer pricing. The increasing participation of multi-national group in economic activities in the country has given rise to new and complex issues emerging from transactions entered in to between two or more enterprises belonging to the same multi- national group.
