Blog

1. After a long period of almost two years of enforcing the Companies (Amendment) Act, 2015 and barrage of amendments brought in the Companies(Share CapitalRead More
Landmark Service Tax Judgement: In a ruling in favor of the construction industry, a two-judge bench of the Supreme Court, held that service tax cannotRead More
In the latest judgment of “Indus Towers Limited Vs. The Assistant State Tax Officer(2018)90 Taxmann.com 417(Kerala)”, the Kerala High Court held that the power ofRead More
Section 80JJAA: Deduction in respect of employment of new employees (1) Where the gross total income of an assessee to whom section 44AB applies, includesRead More
GST Council’s meeting outcome:- > GSTR-3B to continue till Jun’18; > GST Implementation Committee being tasked to redress the grievances caused to the taxpayers dueRead More
No need to prove occasion for receiving gift from relative HC deleted Sec. 68 additions- Unexplained credit addition under section 68 with respect to giftRead More
TDS on transmission Wheeling Charges, Open Access Charges or Transmission Charges by whatever name it may be called, Income Tax Authorities have tried to coverRead More
Welcome Clarification on Job Work Clarification on issues related to Job Work The Central Government vide Circular No.38/12/2018 – Central Tax dated 26th March, 2018Read More
Turnover Limit for Income Tax Audit Category of Taxpayer FY 2016-17 Onwards Business (Not opting 44AD 1 crores Professionals(Not opting 44ADA 50 Lakhs Business optingRead More
Useful for AY 2018-19 1. Limit for payment of expenses by cash (Both capital and revenue expenditure) reduced from RS. 20,000 to RS. 10,000 perRead More
GST: After Karnataka, Intra-state e-way Bill for ->AP, ->Gujarat, ->Kerala, ->Telangana and ->UP wef 15.4.18 (Sun). Press Release MOF of 10.4.18. E-Way Bill system forRead More

LUT

CBIC clarified that LUT shall be deemed to be accepted on Generation of ARN, No documents required to be physically submitted to Jurisdictional OfficeRead More
In Re Synthite Industries Ltd (Authority for Advance Ruling) The goods are liable to IGST when they are imported into India and the IGST isRead More
Some useful judgements :- 1. Maintainability of writ for Stay- Entire demand raised by the authorities below prima facie was not even sustainable when onesRead More
GST Provisions related to JOB WORK Introduction: – Job work means outsourcing of manufacturing activities for completion of a product beyond the premises of theRead More
Amount received on Cancellation of Auction is not subject to Income Tax: ITAT The Delhi Bench of Income Tax Appellate Tribunal constituting of Shri SudhanshuRead More
Sale of Shares in a Pvt Company by Assessee to Son in order to Book Losses so as to set-off Capital Gain from Sale ofRead More
Filing of specified transactions details in Form 61A – Statement of Financial Transactions Income Tax Department is sending mails for the requirement of filing ofRead More
LIMITS BASED PROVISIONS WITH CONSEQUENCES ON NON-COMPLIANCE UNDER COMPANIES ACT, 2013 Sl No Particulars Relevant Sec(s) Rule(s) Rule No Class of Companies Exemption/  Non ApplicabilityRead More
Whether transfer of business assets from one division to another division is taxable under GST? To decide the taxability, we need to read schedule-I, definitionRead More