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.
Uday Gopal Bhaskarwar Vs ACIT (ITAT Pune) ITAT explains Provisions of Clubbing of Income of Wife with Husband- Allows Losses of F&O Business of Wife to be clubbed with Income of Husband Where the spouse (husband) of an individual (wife) transfers some assets otherwise than for adequate consideration or in connection with an agreement to […]
Article discuss GST Provisions applicable to Job Work and Manufacturing services. Dear Colleagues before going to subject we have to refer meaning of the following words under GST Scenario. 1. Meaning of Job Work and Job Worker : As per Section 2(68) of the CGST Act,2017, the meaning of word “ Job Work ,that under […]
Krishna, the eve of Makarsankranti where people celebrate it by flying different types of Kites. This year new Income Tax returns have been notified by CBDT. How shall the tax payers fly the new ITR?
Various representations have been received by the CBDT seeking clarification on the issue as to whether a depositor should submit only one declaration in respect of the income each year before each person responsible for making the payment (i.e. deductor) or Form 15G/15H has to be submitted each and every time the payment is due to be received from the deductor.
While the principle issue of interest liability is still pending, it is observed that the GST department across the country has been issuing letters asking the taxpayers to remit the interest on Gross GST liability and if not paid within 7 days of the letter, the Bank accounts are being attached and the amount is recovered directly.
Set off of loss from one source against income from another source under the same head of income/inter- source set-off under the same head of income Any loss in respect of one source shall be set-off against income from other source under the same head of income. But, there are some exception to this.
The present article briefly covers the important provisions relating to TDS section 194C of the Income Tax Act along with the Frequently Asked Question.
Seeks to bring into force certain provisions of the Finance (No. 2) Act, 2019 to amend the CGST Act, 2017 – Notification No. 01/2020 – Central Tax dated 01st January, 2020 With effect from January 01st 2020, Some sections have implemented via Notification No. 01/2020 – Central Tax dated 01st January, 2020 which was amended vide […]
This article briefly discusses such top 12 things/changes under the GST applicable for New Year 2020 which includes Restriction on claim of ITC, Powers of Commissioner to block ITC under new Rule 86A, Blocking of generation of E-way Bill, if GSTR-1 not filed
