Central Board of Direct Taxes Directorate of Income Tax amends Rule 114E to capture details of interest, dividend and capital gain from listed securities and mutual fund units: Rule_114EDownload The notification of the amendments is attached:
Category: Chartered Accountant
Service Tax Department issuing illegal SCN for FY: 2014-15
Chartered Accountants Association, Jalandhar has made a representation to FM regarding Misuse of Official Position by making roving enquiries & issuing illegal Show Cause Notices by Central Excise (Service Tax) Department. Central GST Department has been issuing Show Cause Notices (SCNs) for FY 14-15 for difference in Receipts as per Service Tax Return and Income…
CBIC waives the amount of penalty for non-compliance of the provisions relating to QR code generation:
CBIC waives the amount of penalty payable by any registered person under section 125 of the CGST Act for non-compliance of the provisions relating to QR code generation in respect of invoices issued by registered person, whose aggregate turnover in a financial year exceeds five hundred crore rupees to an unregistered person (B2C invoice). Condition…
Income Tax relief for Real-estate Developers and Home Buyers : Press Release
Government of India Department of Revenue Ministry of Finance Central Board of Direct Taxes New Delhi, 13th November, 2020 PRESS RELEASE Income Tax relief for Real-estate Developers and Home Buyers As part of the AatmaNirbhar Bharat Package 3.0 as announced by Hon’ble Finance Minister on 12th November, 2020, certain income tax relief measures were brought…
Extension for filing GSTR 4
The CBIC, considering the situation of COVID-19 pandemic in India, has extended the due date for filing GSTR-4 pertaining to financial year 2019-20 to 31st of August 2020. Notification is enclosed herein. NotificationDownload
GST Updates
Updates, Notifications and Circulars under GST pertaining to areas such as: Nil return in FORM GSTR-3B by SMSRefundsExtension of period to pass order under Section 54(7) of CGST ActExtension of validity of e-way billGST on Director’s Remuneration Updates can be found in the links provided below Updates 01Download Updates 02Download
Aatmanirbhar Bharat
Write up covering the important announcements made by Honourable Finance Minister Smt. Nirmala Sitharaman under the Aatmanirbhar Bharat initiative to kickstart the Indian economy and to make India a self reliant nation. Document can be found in the link provided below Aatmanirbhar BharatDownload
Assessment of Charitable Trusts
An article on Assessment of Charitable Trusts pertaining to the issue of 'Excess Application of Income over Income Derived'. The article discusses whether the excess of income applied for objectives of Trusts in India is eligible to be set off against Income derived by such Trusts in the subsequent years. https://taxguru.in/income-tax/assessments-charitable-trusts-excess-application-income.html
India’s Role in the World post covid-19 pandemic
An article on how India can play a significant role in restoring the global market post covid-19 pandemic Article can be found HERE
K S Sridhar and Associates 