PSN Automobiles Private Limited Vs. UOI & CBIC (Kerala High Court at Ernakulam) Petitioner, has submitted that the amount of 1% the dealer collects from the purchaser of a car worth more than ten lakhs, under Section 206C(1F) of the Income Tax Act, cannot be treated as an integral part of the value of the […]
The tax laws allow you certain tax benefit for life insurance premium paid. It also allow you tax exemption in respect of the Life insurance policy. These benefits are available subject to certain conditions. Let us understand it. Tax benefits in respect of premium paid Under Section 80C of Income Tax Act, you can claim […]
FICCI Recommends Cut in Corporate Tax Rate, Revision of It Slabs For Individual Taxpayers in Budget 2019-20 NEW DELHI, 13 January 2019: FICCI in its Pre-Budget recommendations for 2019-20 has suggested reduction in the corporate tax rate across the board to 25% (irrespective of turnover) to spur economic growth and increase overall tax collections. The […]
IMC, BCAS, CAAA, CAAS, KSCAA and LCAS has made a Joint Representation on mechanical issue of prosecution notices by the Income-tax department to Ministry of Finance, Government of India. Text of the same is as follows:- To Ajay Bhushan Pandey, Secretary (Revenue), Ministry of Finance, Government of India, 128-A North Block, New Delhi. Respected Sir, […]
1. (1) This Ordinance may be called the Companies (Amendment) Ordinance, 2019. (2) It shall be deemed to have come into force on the 2nd day of November, 2018.
The GST Council in its 32nd meeting held on 10th Jan 2019 considered the demands raised by the MSME (including the small traders) to increase the threshold limit for registration and to ease the compliance burden under GST. Key highlights of the meeting are as follows: Two higher exemption threshold limit from registration and payment […]
Amendments in Composition Scheme under GST and inclusion of Supplier of Service under the Scheme. With a first meeting in a new calendar year of 2019 GST council has come up with a relaxing exhale for MSME units and small traders by introducing some essential changes to the policy and procedure under the GST Act. […]
Inform- GSTR 9 there have been various points which have created confusion among taxpayers on account of ambiguous and contradictory instructions given in the form. There was also a shortcoming that this form is only a sum-up of form GSTR-3B and GSTR-1, as already submitted.
Any profit made on sale of an investment generally referred to as capital asset under the income tax laws becomes taxable as short term or long term capital gains depending on the holding period of such asset. Different holding periods, ranging from 12 months to 36 months, are prescribed for different class of assets to […]
जीएसटी कौंसिल की 32 वीं मीटिंग अब 10 जनवरी 2019 को हो रही है, माहौल और कारण कोई भी हो, जिनके कारण हम अब जीएसटी में तीव्र सुधारों की आशा कर रहें हैं , उनकी गहराई में जाने की जगह , आइये देखें इस मीटिंग से हम क्या उम्मीद कर सकते हैं क्यों कि अब जीएसटी कौंसिल के त्वरित फैसले ही जीएसटी में उद्योग एवं व्यापार का विश्वास को ना सिर्फ पुन: स्थापित कर सकते हैं बल्कि जीएसटी को भी एक नया जीवन दे सकते हैं :-
