In an effort to tackle fraudulent invoices and misuse of input tax credit (ITC), the authorities responsible for enforcing the Goods and Services Tax (GST) are pushing for immediate access to taxpayers’ banking transactions.
Craft a strong response to an Income Tax notice under Section 148A(b) regarding a donation to a Political party. Challenge the lack of supporting documents provided and demand concrete evidence justifying the allegation of bogus donations. Cite legal precedents, such as decisions by the Hon’ble Gujarat High Court and ITAT Ahmedabad, emphasizing that the donation is genuine and compliant with Section 80GGC of the Income Tax Act, 1961. Assert your right to claim deductions and request the withdrawal of the proceedings.
If you’re looking to provide the best care and benefits to your employees, registering your company for Employee Provident Fund (EPF) is essential. This blog with help you in knowing all the requirements for EPF registration for a Private Limited Company, including eligibility criteria, document requirements, and understanding the significance of EPF for your private limited company.
Learn about Sweat Equity Shares and the process of issuing them. Explore limits, valuation procedures, and steps to issue shares under the GST Act. Discover tax implications and compliance details. Make informed decisions on this unique form of share issuance.
File GSTR-10 Final Return by 30/06/2023 to benefit from the GST Amnesty Scheme. Enjoy a waiver of late fees and reinstate compliance status. Learn the key features and importance of timely filing. Act now for a clean slate and avoid legal consequences.
Stay compliant with the ROC Compliance Calendar under the Companies Act, 2013 in India. This comprehensive guide outlines due dates for various forms, including Disclosure of Directors’ Interest, KYC of Directors, Annual Filing (AOC-4), and more. Avoid penalties and legal consequences by adhering to the prescribed timelines.
Explore the recent ITAT Delhi decision (Amit Tyagi vs DCIT) highlighting that the non-production of directors doesnt justify addition for advancing loans. Assessee’s documentary evidence, PANs, and banking transactions were deemed valid. Get insights into the arguments, observations, and legal perspective.
Unlock the complexities of Accounting Standards, Ind AS, and IFRS with our comprehensive overview. Navigate the global standards shaping financial reporting and understand the significance of IFRS in todays interconnected markets. Delve into the Conceptual Framework, Recognition, Measurement, Presentation, and Disclosure principles. Stay informed about the adoption and convergence of Ind AS in India. Explore the latest amendments and modifications to Indian Accounting Standards.
In recent years, the target of reaching net zero emissions by 2050 have come to the forefront of global climate politics. Net zero would see carbon emissions matched by carbon removals and should allow the planet to avoid dangerous climate change.
Dive into the world of Service Concession Arrangements (SCAs) under Ind AS 115. Explore their meaning, significance, and accounting treatment. Learn how to recover costs through different models and navigate the revenue recognition principles. Uncover the disclosure requirements to ensure compliance and transparency. Stay informed on the evolving landscape of SCAs with the implementation of Ind AS 115.
