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Penalty for fake invoices/ entry: Section 271AAD
While presenting Budget 2020, nothing was announced regarding any such penalty. However as we know about the fake invoices being...
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What does “aggregate turnover” means for GST audit?
"Aggregate turnover" one definition which is used in many important places under GST act. For eg: while calculating turnover for...
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Now dealing and settling virtual currencies including Bitcoin is legal in India: Judgement by Supreme court
In a recent judgement by Hon'ble Supreme court in case of INTERNET AND MOBILE ASSOCIATION OF INDIA vs. RESERVE BANK...
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Vivad se Vishwas bill passed in Lok sabha || FAQ on Vivad se vishwas
Vivad se Vishwas Bill was passed in Lok sabha on 04.03.2020. Also CBDT has issued various FAQ on the same...
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Relaxation to requirement of exam for independent director
In a recent notification it was announced by MCA that an independent director needs to give an exam if he...
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LLP settlement Scheme – 2020
After dispute resolution scheme by CBIC and CBDT, now MCA has also come up with its dispute resolution scheme under...
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Income Tax on proceeds from Life Insurance policy under new tax rate
Investment in Life Insurance Policy is major investment by all individuals and each person has atleast one LIC policy in...
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Exemption u/s 54 available only once in lifetime? Rs. 2 crore limit
In India investment in property is a very common thing and many people earn huge amount of money from buying...
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Income Tax department conducting the biggest raid of 2020 in Raipur!
India's biggest income tax raid (search/ survey) in the year of 2020 reaching on 4th consecutive day at Raipur in...
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Major amendment for salaried employee – Budget 2020
Our Finance Minister had announced the Budget for Financial year 2020-21 on 01.02.2020 and major amendments were announced. However in...
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Decoding Audit provision u/s 44AB amended by Budget 2020 | New tax audit limit.
In 2016 it was the first time when confusion was created between presumptive taxation u/s 44AD and Audit u/s 44AB...
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Tax in India on income earned from RSU vested in foreign countries and exemption from such income
A restricted stock unit (RSU) is a form of compensation issued by an employer to an employee in the form...
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Single GST rate for all lotteries – 28%
Currently Lottery is subject to 2 rates of GST: 12% for Lottery run by State Governments Explanation 1.- For the...
Read moreNew GST helpline number to operate all 7 days
GST Helpdesk has launched new Toll-free number and will become multi-lingual. They will be supporting 12 languages namely, Hindi, English,...
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Major Amendments by CARO 2020
MINISTRY OF CORPORATE AFFAIRS vide notification dated 25th February 2020, has published Companies (Auditor’s Report) Order, 2020. It shall apply to all...
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GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning
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How to pay Membership and COP fees of ICAI for 2020-21 |
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Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods
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Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020
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SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type
- GIFT City Investments and Schedule FA Disclosure
- Taxation and Income tax return of Foreign Companies Earning Income from India under special rates
- Income Tax Department’s NUDGE Initiative 2025-26: A Clear Warning for Taxpayers to Ensure Accurate Reporting
- Notice from Income tax department e-verification cell for non-filing ITR. How to respond
- Default under TDS for 20% TDS or short deduction? Here is a relief from non-linking of Aadhar-PAN
- Received Notice Under Section 143(2) of Income Tax Act? Here’s Why You Got It and How to Tackle It Effectively?
- Statutory Compliance Calendar for June 2025 | Income tax, GST and various other laws
- Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
- ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]
- Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws
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