Analysis of Invoice Management System (IMS)
On the GST portal, a new facility shall be implemented with effect from 1st October 2024 in which the supplier and recipient will be able...
Category : Blogs
CPE hours requirement for Chartered Accountants from 01-01-2024 onwards
With effect from 01-01-2024, the norms for CPE hours have changed for the CA members. The basic requirement for the CA members with respect to...
Understanding the Assessment year and Previous year
In Indian income tax laws, understanding the concepts of the assessment year (AY) and the previous year (PY) is crucial for taxpayers to correctly determine...
All about the New tax regime for AY 2024-25
The Income tax department has released the utilities and forms for the filing of Income tax returns for the AY 2024-25. For the filing of...
Delhi GST Department issues Instructions for Rectification of Orders
On 1st March 2024, the Delhi GST Department issued the instructions for rectification of assessment orders. This is the result of agitation being carried out...
Analysis of Standard Operating Procedures for scrutiny of GST returns for FY 2017-18 and FY 2018-19
On 22nd March 2022, Central Board of Indirect Taxes and Customs (CBIC) has issued the Standard Operating Procedures for scrutiny of returns for FY 2017-18...
Section 194R – TDS on benefits or perquisite of business or profession
In the Finance Bill 2022, a new TDS section 194R has been proposed with respect to TDS on benefit or perquisite of a business or...
Analysis of Section 44AB of Income Tax Act for FY 2020-21
Introduction Section 44AB of the Income tax act requires the assessee to get his accounts audited from a Chartered Accountant if any of the following...
Introduction to Tax Deduction at Source
In the Income Tax, the main objective of the Act is to levy the tax on the Income of the person and collect the tax...
Proposed Abolition of GST Audit – Is it good or bad for the taxpayers?
In the Finance Bill 2021, the Government has proposed to omit the requirement for the GST Audit under section 35(5). The main object for the...
Amendments related to Section 44AB proposed in Finance Bill 2021
In the Finance Bill 2021, the provisions related to Section 44AB i.e. provisions related to Tax Audit has been rationalised in order to incentivise the...
Possible reason for the mismatch between Table 8A and GSTR 2A
On 28th February 2021, the Government has extended the due date for furnishing the GSTR 9 and GSTR 9C for the FY 2019-20 which is...
Interest in GST to be levied on Net Tax Liability w.e.f. 01-09-2020
On 25th August 2020, Central Board of Indirect Taxes and Customs (CBIC) has notified the Notification No. 63/2020 – Central Tax in which it has...
E-Invoicing under GST – A Step-wise Process Guide
e-Invoicing under GST is no longer a future in India but is gradually becoming the present with its implementation from the next quarter: October 2020....
Section 44AB for FY 2020-21
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Decoding Section 271AAD – Penalty for false entry etc. In Books of Accounts
In order to curb the practice of false entries on account of false invoices in order to save the tax by the taxpayer, the Finance...
Relaxation of provisions of Rule 36(4) vide Notification no. 30/2020 dated 03-04-2020
With effect from 09-10-2019, a new rule 36(4) has been introduced in which the new manner of the input tax credit utilisation has been notified...
All about Companies Fresh Start Scheme 2020
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GSTR 9 and GSTR 9C for FY 2018-19 – Current problems in the GST Annual returns forms
As we all know that the GST professionals have just concluded the mammoth task of finalising and filing the GST Annual returns and GST Audit...
All about Section 194O – TDS on E-commerce transactions
On 1st February 2020, the FM has proposed the new section which shall be effective with effect from 1st April 2020 relating to the TDS...
All about voluntary striking off the name of Company from Register of Companies
In the current scenario, there are certain companies which are inoperative or not working from the date of the incorporation and are lying idol without...
Analysis of Rule 36(4) – Additional 20% ITC
On 9th October 2019, a notification has been issued by the CBIC regarding the introduction of Rule 36(4) which says about the provisional availment of...
All about National E-Assessment Scheme
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Clarification on TDS on cash withdrawals applicable from 1st September 2019 onwards
Central Board of Direct Taxes (CBDT) has released a clarification on 30th August 2019 in which the clarifications have been made regarding the applicability and...
Clause wise analysis of Income tax amendments in Union Budget 2019
Taxcharcha LLP has compiled the clause by clause analysis of Income tax amendments proposed in Union Budget 2019. To download the publication, click here Anaysis...