CBDT notifies Rule 121A. Form of statement to be furnished by producers of cinematograph films or persons engaged in specified activity and Form N0. 52A Statement to be furnished under section 285B of the Income-tax Act, 1961 by a person carrying on production of a cinematograph film or engaged in specified activity or both vide Notification No. […]
ICAI clarified that application of funds can only be made on actual payment basis in case of charitable trusts. This amendment is made vide Finance Act, 2022 and is applicable for assessment year 2022-2023 and subsequent assessment years. Direct Taxes Committee The Institute of Chartered Accountants of India 1st September, 2022 Subject: Applicability of Explanation […]
In cheque Bounce case arraigning of the sole proprietary concern rather was a condition precedent for making the complaint well constituted, as it becomes the principal offender, and, with its remaining un-impleaded, as such, the absence of its impleadment cannot make the instant complaint to be well constituted, nor, any valid prosecution can in its absence, be drawn, even against the accused petitioner, who can be assigned only a vicarious liability alongwith it.
SC held that Non delivery of a new car can be said to be an unfair trade practice and even it can be said to be dishonesty on the part of the dealer and against the morality and ethics
Additional Guidelines for removal of difficulties under section 194R(2) of Income-tax Act, 1961 – Circular No. 18/2022-Income Tax
The primary function of the Auditor in the present case was to ensure compliance with SAs to achieve the necessary audit quality to lend credibility to financial statements and facilitate its users. A critical, questioning attitude, an unwillingness to be satisfied by superficial explanations, not concluding on material matters without rigorous verification, diligent and methodical […]
E-Waybill for Gold has been provisioned in the e-Waybill system. As per the notification issued by their respective states, the taxpayers may generate e-Waybill for Gold (comprising items belonging to HSN Chapter 71 only) for intrastate and interstate transactions. E-Way Bill for Gold | (September 2022) As per the Government recommendation, E-Way Bill generation has been […]
New Functionalities made available for Taxpayers on GST Portal in August, 2022 includes Enabling CORE Amendment Link For Taxpayers who fail To Update Bank account, Changes implemented in Form GSTR-3B, Late fee waiver up to 28th July, 2022, for delayed filing of return in Form GSTR-4 (Annual) for the FY 2021-22, Generation of GSTR-11 based […]
Unlock the intricacies of Transitional Credit Availment from October 1, 2022, in this insightful video by CA Vivek Jalan. Delve into the procedures, challenges, and safeguards surrounding GST-TRAN Credit, as per Circular 180/12/2022 dated 9th Sep 2022. Explore the Filco Trade Centre Pvt Ltd. & Anr Vs UOI verdict, GSTN’s portal opening, and the filing window for TRAN 1, TRAN 2, and TRAN 3. Gain clarity on revision possibilities, the role of aggrieved registered assesses, and the officer verification process.
Article explains Taxation of Cryptocurrency, Virtual Digital Assets, Non-Fungible Tokens under section Section 115BBH of Income Tax Act, 1961
