Direct Tax Updates: Income tax Due date for filing returns for Financial year 2018-2019 is 31 July 2019.So, Provide all required Documents for filling your Income tax Return AY 19-20 as soon As possible. penalty of Rs 5,000 will be charged for returns filed after due date but before 31st December. If returns are filed …
Direct Tax Updates: The cuts are being sought by both the direct and indirect tax departments. Direct tax officials are going to ask for a cut in their collection target by Rs 60,000-70,000 crore or 4.3-5.1 per cent of the figure in the interim Budget for 2019-20, for overall yearly growth of 15 per cent. …
Indirect Tax Updates: Gujrat High Court in the matter of Neuvera Wellness Ventures Pvt Ltd Vs State of Gujarat orders release of goods being perishable on furnishing security by way of bond under GST. Companies can claim input tax credit (ITC) under the goods and services tax (GST) regime even if the liability to pay …
Corporate and Professional Updates on 3rd June 2019 Direct Tax Updates: Income-tax authorities do not want to let go the revenue dues owed by shell companies that have been deregistered by the MCA. CBDT to file the restoration application with the National Company Law Tribunal (NCLT). MCA will support their stand. Income tax Due date …
Direct Tax Updates: Delhi High Court restrained the Income Tax Department from taking any action against VVIP chopper deal scam accused Gautam Khaitan against whom a black money case has been lodged. Court said Khaitan, an advocate by profession, has made out a “good prima facie” case for grant of interim relief and grave prejudice …
Indirect Tax Updates: GST was implemented with effect from 1/7/17 i.e. after the completion of 3 months from commencement of F.Y. 17-18, Due to above the F.Y. 17-18 was a mix of accounting policies/procedures/compliances for two different Tax Mechanism periods: 1-4-17 to 30-3-17 (pre GST period) 1-7-17 to 31-3-18. RBI Updates: The Reserve Bank of …
Direct Tax Updates: CBDT wants religious and charitable trusts that enjoy tax exemption on their income to be more open about their affairs. The apex direct tax policy making body has sought public comments on a set of draft rules that modifies an over four decade old …
Direct Tax Updates: CBDT releases draft New FORM No. 10B and rule 17B: Amendment of Form No 10B of the Income-tax Rules, 1962– Draft notification for inputs from stakeholders and the general public. Income-tax authorities do not want to let go the revenue dues owed by shell companies that have been deregistered by the MCA. …
The income tax Due date for filing returns for the Financial year 2018-2019 is 31 July 2019. So, Provide all required Documents for filling your Income-tax Return AY 19-20 as soon As possible. the penalty of Rs 5,000 will be charged for returns filed after the due date but before 31st December. If returns are …
India’s Latest Development on Crypto-Currencies BRIEF INTRODUCTION Cryptocurrency is a type of digital asset that is created to serve as a medium of exchange and secure financial transactions, with the use of secure cryptography. Instead of having a centralised digital currency and banking system, cryptocurrencies work with decentralised control. This decentralised control works with …