INCOME Tax Updates: The Assessment is reopened simply on the basis unclear information received from the Director of Income Tax by the Assessing without independently applying his own mind to… Read More
Generated E-invoice and applicability with Exception of E-invoicing Compulsory E-invoicing generation limit further reduces from Rs. 100 Cr to 50 Cr You needed to aware the E-invoicing is mandatorily applicable… Read More
Income tax Updates: Direct tax collection has risen up by 15.7% for the period of April-November as compared to previous year. Collections added to Rs 6.75 lakh crore while refunds… Read More
GST on Housing Societies & Resident Welfare Associations. supply of service by RWA (unincorporated body or a registered non- profit entity) to its own members by way of reimbursement of… Read More
When is compulsory GST registration required? A person registered under the Pre-GST law (i.e., Excise, VAT, Service Tax, etc.) Casual taxable persons rendering taxable supplies A person who is required… Read More
CBDT clarifies extension validity of lower or nil TDS/TCS certificate CBDT issued order an explanation/ clarification U/s 119 on 9-04-2020 on questions arising from orders issued on 31 March and… Read More
CASE UPDATES: It is explained by the Central Board of Direct Taxes (CBDT) that the limited scrutiny cases referred under CASS cycles in 2017 and 2018 where the issues referred… Read More
Direct Tax:- CBDT has issued a clarification regarding taxability of the compensation received by the land owner for the land acquired under the right to fair compensation and transpereancy in… Read More
Direct Tax: Gujarat High court held that tax cannot be levied on gain from sale of agricultural land based on intention of buyer to use the land for business purpose. Principal… Read More
UPDATES WITH GST GST COMPLIANCE CALENDAR- JANUARY, 2021 Key Due Dates: 10 Jan 2021 (Sunday) ✓ GSTR-7 for the month of December 2020 (For TDS Deductors under section 51) ✓… Read More