News

News of Extension of Due Date of GSTR-1 and GSTR-3B is Fake

CBIC clarifies on Twitter that News of Extension of Due Date of GSTR-1 and GSTR-3B is Fake. Claim: Central Board of Indirect Taxes and Customs (CBIC) has further extended the GSTR-1 late fee waiver scheme to Jan 31, 2020. Reality: This is Fake News. The scheme ended on Jan 17, 2020 and has not been […]...

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Posted Under: Income Tax |

New President and Vice President of ICSI for 2020

New President and Vice President of the Institute of Company Secretaries of India (ICSI) for 2020. CS Ashish Garg, a Fellow Member of the Institute has been elected as President of the Institute of Company Secretaries of India for the year 2020 w.e.f. 19th January, 2020. CS Nagendra D Rao, a Fellow Member of the Institute has been elected...

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Posted Under: Income Tax |

Overwhelming Response to GSTR 3B for December 2019

GSTN has declared on twitter that 65,64,871 GSTR 3B were filed till 20th January 2020 and it thanked Taxpayer for their Overwhelming response. GSTR 3B were filed for the Month of December 2019. Message come amid reports of Taxpayer not receiving OTP which is essential to file GSTR -3B. Many Taxpayer also complained of issues […]...

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Posted Under: Income Tax |

Complaint against alleged High Handedness of CGST Authorities against CA

Indirect Taxes Consultants Association has written to Hon'ble Prime Minister of India and complained against the alleged High Handedness of the CGST Authorities against the Chartered Accountant in Ludhiana....

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Budget 2020- Increase Tax Exemption Slabs / Section 80C Deduction/ Cash Transaction Limit

Punjab Accountants Association hs requested Honourable Union Finance Minister, Ms. Nirmala Sitharaman to revise Income-tax Slab for the Financial Year 2020-21, Increase Cash transaction in a day to atleast Rs. 20,000 and to increase section 80C deduction limit to Rs. 2,00,000....

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Posted Under: Income Tax |

Section 234F Fee for delayed filing of return causing undue hardship

The Finance Bill, 2017 proposes to levy fees of Rs.5,000 in case where return is furnished after the due date but on or before 31St December of the relevant assessment year and Rs.10,000, in other cases. However, it is also proposed to restrict the fees to Rs.1,000, where the total income does not exceed five lakh rupees....

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Posted Under: Income Tax |

Fix the global tax system to fix the inequality crisis: ICRICT

The inequality crisis remains unaddressed and out of control. Hundreds of millions of people are living in extreme poverty while large rewards go to those at the very top. In 2019, the world’s billionaires, only 2,153 people, had more wealth than the poorest  4.6 billion people combined, according to Oxfam. A new generation of inequali...

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Posted Under: Income Tax |

Printing process for Budget 2020 commences with Halwa Ceremony

The Halwa ceremony, marking the commencement of Budget printing process for Union General Budget 2020-21, was held here in North Block today morning in the presence of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman....

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Posted Under: Income Tax |

CS Foundation Examination exam result on 25th January, 2020

Declaration of Result of CS Foundation Programme Examination December, 2019 The Result of CS Foundation Programme examination held on 28th and 29th December, 2019 would be declared on Saturday, the 25th January, 2020 at 11:00 A.M. The result along with individual candidate’s subject-wise break-up of marks will be available on the Instit...

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Posted Under: Income Tax |

Important points to be kept in mind while Filing E-Forms on MCA Portal

Important points to be kept in mind while Filing E-Forms on MCA Portal 1. Select correct category to download e-Form for respective services, Like Form MGT-7 For Annual Return. 2. Ensure that latest version of the e-forms has been downloaded from the MCA Website. 3. Before filling of e-forms, the professional should go through the [&helli...

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Posted Under: Income Tax |

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