Category : Latest
Forms required to submit for availing benefit under ‘DIRECT TAX VIVAD SE VISHWAS’ Scheme will be available in the e-Filing soon
After the President gives accent to the Direct Tax Vivad Se Vishwas Act, 2020 on 17th March, 2020, the Income Tax Efiling Website has updated...
The Direct Tax Vivad Se Vishwas Act 2020
The Direct Tax Vivad Se Vishwas Act 2020 has received the assent from the President of India on 17-03-2020. To download and view the Act,...
the provisions of Sec.2(22)(e) were not applicable since the payment was mere reimbursement of expenditure by M/s PHL – ITAT Mumbai
The provisions of Sec.2(22)(e) were not applicable since the payment was mere reimbursement of expenditure by M/s PHL. However, Ld. CIT(A) proceeded on wrong footing...
Service of notice upon a dead person under section 142(1) would not authorise him to assume jurisdiction to pass assessment order on the Legal Representatives – ITAT Ahemdabad
It is found that before service of notice under section 142(1), assessee had already expired. His legal heirs did not file return for this assessment...
Where the assessee provided all the confirmation of the creditors at the CIT(A) level, the orders of the lower authorities set aside and send back for reconsideration – ITAT Delhi
During the assessment proceedings, the Assessee fails to provide confirmation of 04 creditors and the AO added the whole amount of creditors to its income....
Where assessment is framed without reference to any incriminating document or material found during search, the assessment is academic in nature- ITAT Delhi
Where the CIT(A) decided the appeal that that no assessment could be framed under section 153A because no incriminating document was found during the course...
Appeal withdrawn from ITAT as the same is filed to be settled under Vivad Se Vishwas Scheme- ITAT Delhi
Three appeals is withdrawn from ITAT Delhi as the assessee is availing the Vivad Se Vishwas Scheme, 2020 for the purpose of settlement of issues...
39th GST Council Meeting – Change in Rates
PRESS RELEASE ON GST RATES ON CERTAIN GOODS AND SERVICES IN 39TH GST COUNCIL MEETING ON 14TH MARCH, 2020 GST Council in the 39th meeting...
39th GST Council Meeting – Law and Procedure related changes
39th Meeting of the GST Council, New Delhi 14 March, 2020 *** PRESS RELEASE (Law and Procedure related changes) The GST Council, in its 39th...
LLP Settlement Scheme, 2020- MCA
Introduction: The Central Government in exercise of its powers under Section 460 of the Companies Act, 2013 has decided to introduce a scheme called “LLP Settlement Scheme,...
Relaxation of additional fees and extension of last date of filing of Forms MGT-7 and AOC-4- MCA
Keeping in view of the requests received from various stakeholders stating that due to disturbances in internet services and the normal work was affected in...
Guidance note on Audit of Banks – 2020 Edition
The Institute of Chartered Accountants of India (ICAI) has published the Guidance note on Audit of Banks – 2020. To download the Guidance note, click...
Registration u/s 12AA of the Income Tax Act, 1961
Registration u/s 12AA of the Income Tax Act, 1961 nowhere stipulates that the trust should carry on certain charitable activities. The object of the “proposed”...
MCA notified Companies (Auditor’s Report) Order, 2020
The Ministry of Corporate Affairs has notified the Companies (Auditor’s Report) Order 2020 on 25th February 2020 which will be effective from the date of...
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...
GSTR 1 date for July 2017 to November 2019 extended to 17th January 2020
The GST council in its 38th meeting has recommended that the late fee waiver for the GSTR 1 for the period between July 2017 to...
Limit for appointment of Company Secretary has been increased from Rs. 5 Crores to Rs. 10 Crores
The Ministry of Corporate Affairs (MCA) has issued the notification on 03rd January 2020 in which the following changes have been introduced, which are as...
Extension of Form BEN-1 and BEN-2
The Ministry of Corporate Affairs (MCA) has extended the last date of filing of Form BEN-1 and BEN-2 from 31st December 2019 to 31st March...
ITR 1 and ITR 4 notified for the AY 2020-21
In a surprising move by the Income Tax Department, the ITR 1 and ITR 4 have been notified for the AY 2020-21. This is the...
Circular No. 130/49/2019-GST – Reverse Charge Mechanism (RCM) on renting of motor vehicles
On 31st December 2019, the Central Board of Indirect Taxes and Customs has issued the Notification no. 29/2019-Central tax rate regarding the RCM on renting...
Notification no. 29/2019-Central Tax Rate – Leviability of RCM on renting of motor vehicle services
On 31st December 2019, the Central Board of Indirect Taxes and Customs (CBIC) has issued the Notification no. 29/2019-Central Tax Rate for the leviability of...
Notification no. 28/2019-Central Tax Rate – Exemption of upfront fee payable for long term lease of industrial / financial infrastructure plots by an entity having 20% or more ownership of Central or State Government
To give effect to the recommendations of the 38th GST Council Meeting, the Central Board of Indirect Taxes and Customs (CBIC) has issued the Notification...
Notification no. 27/2019 – Central Tax (Rate) – Increase in rate of woven and non woven bags and sacks of polyethylene or polypropylene strips used for packing of goods
On 30th December 2019, the Central Board of Indirect Taxes and Customs has issued the notification in which the rates of the following items have...
PAN AADHAR linking extended by 3 month
On 30th December 2019, the Central Board of Direct Taxes (CBDT) has extended the due date of linking of PAN with AADHAR from 31st December...