Blog

30
Jun
2019
Recent GST Notifications & Circulars
31
May
2019
Key Changes in New ITR Forms for Assessment Year 2019-20

The Central Board of Direct Taxes (CBDT) has notified the Income-tax Return (ITR) Forms applicable for the Assessment Year 2019-20. These ITR Forms will be applicable for filing of income-tax return in respect of income earned during the previous year 2018-19 (between 01-04-2018 to 31-03-2019). The new forms incorporate the changes made by the Finance Act, 2018 in the Income-tax Act, 1961.

Read more
01
Apr
2019
Changes in tax and corporate laws effective from April 1, 2019
15
Mar
2019
Things to do before 31st March
28
Feb
2019
What is Unregulated Deposit Scheme Ordinance, 2019?

The President of India has promulgated 'The Banning of Unregulated Deposit Scheme Ordinance, 2019' on February 21, 2019. The Ordinance aims to provide comprehensive and unified mechanism to ban the unregulated deposit schemes (or Ponzi schemes or Pyramid Schemes) and to protect the interest of depositors. The Ordinance clearly defines 'Regulated Deposits' and 'Unregulated Deposits'. The Ordinance also provides list of offences and penalties thereunder. Through following FAQs you can understand the provisions of the Ordinance in a lucid manne

Read more
06
Feb
2019
Sale of Shares is capital gain or business income ?
01
Feb
2019
Key takeaways of Budget 2019

This is for the first time in the Indian history that Interim Budget has been announced as on 1 February. Modi Government's current tenure is about to end and this is the last budget before 2019 Lok Sabha elections. The final budget will be presented in July, 2019 by the newly elected Government.

Read more
24
Jan
2019
Missed paying advance Tax ? You may get a Notice !!
05
Dec
2018
Loss from derivative is a normal business loss and not speculation loss
04
Dec
2018
It isn't mandatory for assessee to set off business loss against capital gains as per sec. 71
13
Aug
2018
GST Amendments as passed by the Lok Sabha
28
Jul
2018
Income Tax Notice in name of deceased
23
Jul
2018
GST Rate Changes
11
Jul
2018
Reduced Tax Litigations
14
Jun
2018
Listing Securities on Stock Exchanges in India
12
Jun
2018
No sec. 54F relief if construction of new property took place prior to date of transfer of capital a

Benefit of deduction under section 54F in case of construction of residential house, is available only when construction is completed within a period of three years after date of transfer of long-term capital asset and, therefore, where construction took place prior to date of transfer, conditions of section 54F were not fulfilled and, consequently, assessee's claim for deduction was to be rejected

Read more
04
Jun
2018
GST Stock Broking Services- FAQs
11
May
2018
GST implication on provisions recognised in books of account
08
May
2018
Amendments to various Rules under Companies Act, 2013 w.e.f  07/05/2018
17
Apr
2018
Goods & Service Tax ( GST ) Audit

Every registered entity whose aggregate turnover during a financial year exceeds Rs. 2.00 crore has to get its accounts audited as the provisions of GST Act. Such person has to furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C.

Read more
30
Mar
2018
Finance Bill, 2018 assented to by President
21
Mar
2018
Revised Proforma for Income Tax Notice under the E-Assessment Regime

The concept of electronic assessment proceeding was introduced last year and its scope was gradually enlarged. The e-assessment proceeding is now facilitated through e-filing portal. The CBDT Instruction No. 01/2018, dated 12-02-2018 has mandated that except for search related assessments and exceptional circumstance mentioned therein all other pending scrutiny assessment cases shall be conducted only through the E-Proceedings functionality in ITBA/Efiling.

Read more
17
Mar
2018
Sec 147 of Income Tax Act- Initiation of reassessment proceedings
16
Mar
2018
Levy of DDT on Deemed Dividend u/s 2(22)(e): Will it give rise to Double Taxation?

The Finance Bill 2018, has proposed to cover deemed dividend u/s 2(22)(e) of Income Tax Act, also for levy of dividend distribution tax @ 30%,in the hands of a closely held company paying such deemed dividends. As per the existing provisions in Finance Act, 2017, deemed dividends are taxable in the hands of recipient as income from other sources u/s 56 of Income Tax Act, at the applicable marginal rate of tax, and no dividend distribution tax is payable u/s 115-O, on such deemed dividends, by the payer company.

Read more
03
Mar
2018
Useful Income Tax Case Laws / Order
13
Feb
2018
Things to Know About e-Assessments

As part of e-governance initiative to facilitate conduct of assessment proceedings electronically, Income-tax Dept. has launched 'E-Proceeding' facility. Under this initiative, CBDT has made it mandatory for the tax officers to take recourse of electronic communications for all limited and complete scrutiny. In June, 2017, CBDT had issued the formats for issuing a notice to the taxpayers for conducting the scrutiny assessments. Now, CBDT issues an instruction for conducting the scrutiny assessments electronically. As per the instruction, except search related assessments, all scrutiny assessments shall be conducted only through the 'E-Proceeding' functionality available at e-filing website of Income-tax Dept.

Read more
02
Feb
2018
FAQs on Eway Bill

e-way bill is a document required to be carried by a person in charge of the conveyance carrying any consignment of goods of value exceeding fifty thousand rupees as mandated by the Government in terms of section 68 of the Goods and Services Tax Act read with rule 138 of the rules framed thereunder. It is generated from the GST Common Portal by the registered persons or transporters who cause movement of goods of consignment before commencement of such movement.

Read more