The Auditing Standards were formulated by Auditing Standard Board of Institute of Company Secretaries of India and issued by Council of ICSI. These Auditing Standards is effective from 01, July 2019 but on re commendatory basis , these are made mandatory from 01, April , 2020. These standards are applicable for audit by Practicing Company Secretaries. AIM […]
CBDT Measures on issue of Non-TDS Deduction certificate or Lower rate deduction certificate during COVID Lockdown Introduction: We all know that the country is facing an outbreak of COVID-19 virus due to which the financial conditions of the assessee is in a bad state due to complete lockdown in the country. Due to the global […]
In order to boost the economy & give relief to the corporates, the Government has introduced various schemes. One of the recently introduced schemes is LLP SETTLEMENT SCHEME, 2020
This article focuses on provisions of The Income Tax Act, 1961 and rules made there under relating to Set Off and Carry Forward of Losses. This is a complete guide to set off and carry forward the losses including the set off of losses from business and profession from presumptive income. A. There are two […]
Analysis of Definition of Capital Assets being Securities for the prospective of Non Residents including Foreign Institutional Investors as per Section 2(14) of the Income Tax Act, 1961 read with certain important circulars and letters issued by the Central Board of Direct Taxes.
Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020-Overview Various relief measures were announced by Finance Minister Smt. Nirmala Sitharaman on 24th March, 2020 and to give effect to that relief measures Government of India notifies Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31.03.2020. These relief measures are related to […]
In Income Tax Act there are various section which are frequently being used by the assesse and assessing officer in their day to day working but still assesse and department is not consensus on various points of various section. Section 154 titled as ‘RECTFICATION OF MISTAKE‘ is also one of those section of the Income […]
The Finance Minister of India, on March 24th, 2020, addressed the public with a vivid plan regarding statutory and regulatory compliances. But there are a lot of confusions amongst the taxpayers regarding the announcements. Let us first understand scope of the announcement and then clear the confusions through FAQs. INCOME TAX Belated Tax Returns or […]
During the Outbreak of COVID – 19 Virus all around the World The Indian Government have taken immediate measures to Stable the Economy and reduce the panic in Honest Tax Payers by applying some serious steps in Statutory Compliances under Income Tax and Goods and Service Tax. On Press meet held on 24-March 2020 the […]
Vivad Se Vishwas Scheme Q1: As per the form, the Assessee is required to mention reference number of appeal filed by it. When the matter is pending with CIT(A), Appeal No. may not be available with Assessee, as notice might not have been issued. Whether acknowledgement number of e-appeal can be mentioned? Reply : The […]
