ARTICLE ON SECTION 80C OF THE INCOME TAX ACT 1961
Article on Section 80C of the Income Tax Act 1961 Persons covered : Individual or HUF Eligible Deductions : Life Insurance Premium to keep in force insurance of self, spouse...
OUR REPRESENTATION TO HON’BLE FINANCE MINISTER AND GST COUNCIL FOR EXTENSION OF DUE DATE FOR CLAIMING ITC OF FY 2017-18 AND 2018-19 TILL 30th SEPTEMBER 2020
Our Representation to Hon'ble Finance Minister and GST Council for Extension of Due Date for Claiming ITC of FY 2017-18 and 2018-19 till 30th September 2020 Ref : TC/GST/20-21/1 ...
DUE DATE EXTENDED FOR TAX FILING OF FY 2019-20 BUT TAX PAYMENT IS NOT INTEREST FREE
Due Date Extended for Tax Filing of FY 2019-20 But Tax Payment is not Interest Free Due date for income tax return for the FY 2019-20 (AY 2020-21) has been...
DUE DATES FOR GSTR-3B AND GSTR-1 AFTER CONSIDERING NOTIFICATIONS DATED 24th JUNE 2020
Due Dates for GSTR-3B and GSTR-1 after Considering Notifications Dated 24th June 2020 On 24th June, 2020; CBIC has issued various notifications to notify the due dates for GSTR-3B, GSTR-1...
ARTICLE ON SECTION 194IA OF THE INCOME TAX ACT 1961
Article on Section 194IA of the Income Tax Act 1961 Hello everyone, I am presenting my first article on Section 194IA of Income Tax Act, 1961 (TDS Payment on transfer...
BIG CHANGE IN GST : INTEREST ON PPF ETC TO BE INCLUDED IN GST REGISTRATION THRESHOLD
Big Change in GST : Interest on PPF etc to be included in GST Registration Threshold The value of exempted income, like interest on PPF, savings bank account and loans...
WHETHER BLOCK CREDIT PROVISIONS WOULD BE APPLICABLE ON FREE SAMPLES ??
Whether Block Credit Provisions would be Applicable on Free Samples ?? Introduction The negative list of items on which Input tax credit (ITC) is not available, have been coded under...
CBIC HAS LAUNCHED THE E-OFFICE APPLICATION
CBIC has Launched the E-Office Application “The e-Office is a Mission Mode Project (MMP) under the National e-Governance of India.” Chairman of Central Board of Indirect Taxes and Customs (CBIC)...
ARTICLE ON FOOD SAFETY AND STANDARDS AUTHORITY OF INDIA (FSSAI)
Article on Food Safety and Standards Authority of India (FSSAI) What is FSSAI? Food Safety and Standards Authority of India (FSSAI) which is an organization to regulate and governs the...
DECISIONS TAKEN IN 40th GST COUNCIL MEETING HELD ON 12th JUNE 2020
Decisions Taken in 40th GST Council Meeting held on 12th June, 2020 In 40th GST Council Meeting, the main focus of Hon'ble Finance Minister Smt. Nirmala Sitharaman was on this...
WEBINAR ON RECENT CHANGES IN ITR FORMS
Webinar on Recent Changes in ITR Forms After hosting Webinar on "COVID-19 and Indian Tax Regime" and "Overview of MSME and Various Aspects of MSME in India"; Tax Concept is...
DECODING CBIC CLARIFICATION IN RESPECT OF LEVY OF GST ON DIRECTOR’S REMUNERATION
Decoding CBIC Clarification in Respect of Levy of GST on Director's Remuneration (Circular No. 140/09/2020-GST dated 10th June, 2020) Overview : CBIC (Central Board of Indirect Taxes and Customs), Government...
VALIDITY OF E-WAY BILL FURTHER EXTENDED
Validity of E-Way Bill Further Extended The CBIC has issued Notification No. 47/2020- Central Tax on 9th June, 2020 indicating that the Notification No. 35/2020- Central Tax, Dated 3rd April,...
DELHI HC JUDGEMENT ON SCOPE OF RULE 27 OF ITAT RULES 1963
Delhi HC Judgement on Scope of Rule 27 of ITAT Rules 1963 Parties : Sanjay Sawhney vs. PCITDecision of : Hon’ble Delhi High CourtDate of Order : May 18, 2020ITA...
ALL YOU NEED TO KNOW ABOUT FILING OF NIL GSTR-3B THROUGH SMS
All You Need to Know about filing of NIL GSTR-3B through SMS In order to facilitate Ease of Compliance, CBIC has launched NIL filing of GSTR-3B through SMS on 8th...
CLASSIFICATION OF GOODS AND SERVICES FOR TRADEMARK
Classification of Goods and Services for Trademark GOODS Class 1 : Chemical used in industry, science, photography, agriculture, horticulture and forestry; unprocessed artificial resins, unprocessed plastics; manures; fire extinguishing compositions;...
GET INSTANT PAN FOR FREE THROUGH AADHAAR BASED E-KYC
Get Instant PAN for Free through Aadhaar based E-KYC Finance Minister Smt. Nirmala Sitharaman officially launched facility of instant Permanent Account Number (PAN) allotment using Aadhaar based e-KYC on May...
SMF-FIRMS : A NEW SYSTEM FOR ONLINE REOPRTING APPLICATION INTRODUCED BY RBI
SMF-FIRMS : A new system for online reporting application introduced by RBI RBI has introduced an online reporting portal for reporting of foreign investments made in India which is called...
ARTICLE ON FOREIGN DIRECT INVESTMENT (FDI)
Article on Foreign Direct Investment (FDI) (1.) What Is Foreign Direct Investment? India’s Growth story is intrinsically linked with the story of both Indian entrepreneurship and Foreign direct investment. India...
UNDERSTANDING OF LOAN FOR MICRO UNITS (PART OF MSME)
Understanding of Loan for Micro Units (Part of MSME) MUDRA LOAN : MUDRA stands for Micro Units Development & Refinance Agency Ltd. It is an NBFC supporting development of micro...
CESS ON INCOME TAX IS ALLOWABLE EXPENDITURE : BOMBAY HC
Cess on Income Tax is Allowable Expenditure : Bombay HC Parties : Sesa Goa Ltd. vs. JCITDecision of : Hon’ble Bombay High Court at GoaDate of Order : February 28,...
ITAT JUDGEMENT ON NON DEPOSIT OF AMOUNT IN CAPITAL GAIN ACCOUNT SCHEME
ITAT Judgement on Non Deposit of Amount in Capital Gain Account Scheme Parties : Shri Kasi Viswanathan Ramnathan vs. ITODecision of : Hon’ble ITAT, ChennaiDate of Order : May 29,...
IF YOU ARE UNDERGOING CA ARTICLESHIP OR ABOUT TO COMMENCE ONE : THIS IS FOR YOU!
If you are undergoing CA Articleship or about to commence one : this is for You! Ever heard of Living your 3 years using the "D-O-P Approach"? Probably not, because...
WHETHER RE-ASSESSMENT BASED ON SUBSEQUENT DECISION OF SUPREME COURT VALID?
Whether Re-Assessment based on Subsequent Decision of Supreme Court Valid? Parties : Calcutta Club Ltd. vs. ITODecision of : Hon’ble Calcutta High CourtDate of Order : February 14, 2020WP No....
GSTR-3B LATE FEES FROM AUGUST 2017 TO JANUARY 2020 MAY BE WAIVED OFF
GSTR-3B late fees from August 2017 to January 2020 may be waived off On 1st June, 2020, CBIC has tweeted an official press note stating that the issue of waiver...
ROLL OUT OF ANNUAL INFORMATION STATEMENT (AIS) IN INCOME TAX
Roll Out of Annual Information Statement (AIS) in Income Tax Overview : CBDT has notified New Annual Information Statement (AIS) vide Notification No. 30/2020 dated 28.05.2020 which will be in...
11 E-BOOKS ON GST OFFERED BY THE ICAI FOR FREE
11 E-Books on GST offered by the ICAI for Free For enhancing knowledge of professionals and to keep them update, ICAI releases 11 E-Books on GST. ICAI President CA Sh....
