IGST levied on Ocean freight is ultravires to IGST Act : Gujarat HC

Consequences, if you miss the deadline of GSTR 9 and 9C

Recently on 31.01.2020 due date for GSTR 9 was extended in a staggered manner.The CBIC said that, "Considering the difficulties ...

Amendments in TDS and TCS provision by Budget 2020

by ADMIN

February 3, 2020

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The budget for F.Y. 2020-21 was announced on 01.02.2020 by Mrs. Nirmala Sitharaman. In this budget there were huge amendments ...

Which income of Non-resident are taxable in India? And understanding calculation of residential status

NRI needs to pay tax on global income in India? (Important updates for NRI in Budget 2020)

by Income tax Expert

February 2, 2020 - Updated on February 28, 2020

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Budget 2020 was announced on 01.02.2020 by our Finance Minister Nirmala Sitharaman wherein many amendments have been made and all ...

Why a salaried employee should not opt for New Tax rates!

by ADMIN

February 1, 2020 - Updated on February 3, 2020

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In the below table we have discussed various basic calculation of Income tax for various income's for salaried individual: Income ...

Important Tax Updates- Budget 2020

by ADMIN

February 1, 2020 - Updated on May 11, 2020

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Salient Tax Updates of Budget 2020-21: 1. Tax Slabs Changed: A new Section 115 BAC is being introduced whereby an individual ...

New slab rate for individuals for F.Y. 2020-21 (A.Y. 2021-22) – section 115BAC

by ADMIN

February 1, 2020 - Updated on April 13, 2020

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The budget has been announced today and it brings good news for some tax payers but there are various things ...

Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-

Transaction Limit of loan u/s 269SS and 269T reduced to Rs. 10,000?

by Income tax Expert

January 31, 2020

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Recently all of us have come across an extra ordinary notification wherein it is being circulated that limit for section ...

Pre Budget Memorandum by BCAS – 2020

by Income tax Expert

January 30, 2020 - Updated on January 31, 2020

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Budget 2020 is round the corner and so earlier we had discussed Pre budget Memorandum of ICAI. In this post ...

Consequences, if you miss the deadline of GSTR 9 and 9C

by GST expert

January 29, 2020 - Updated on January 30, 2020

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Since only 2 days are remaining now for filing the Annual Return and the Audit Report under GST for financial ...

Business with turnover above Rs. 50 crore need to compulsorily accept payment through electronic mode? – Section 269SU

Complete your compliance u/s 269SU on e filing website till 31.01.2020 or pay Rs. 5000/ day penalty

by Income tax Expert

January 28, 2020 - Updated on January 29, 2020

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Section 269SU was introduced by Finance Act, 2019 w.e.f. 01.11.2019 wherein it was mentioned that:"Every person, carrying on business, shall ...

18% GST on Jobwork still exist ! – Circular 126/45/2019

by GST expert

January 27, 2020 - Updated on January 29, 2020

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Recently a news update was flashing in every news article, website and media. The update relates to the recent announcement ...

GSTR 9 – What’s optional? What’s mandatory?

by GST expert

January 26, 2020 - Updated on January 28, 2020

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As known, the Due date for Gst Annual Return (Gstr-9) and GST Audit (Gstr-9C) for regular taxpayers was extended by ...

CA cannot certify Income tax return (ITR) even for loan purpose:

How should a CA certify ITR V for loan purpose?

by Income tax Expert

January 25, 2020 - Updated on March 28, 2020

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In a recent FAQ released by ICAI regarding UDIN we had seen that it was mentioned by ICAI that a ...

Faceless scrutiny in Income Tax is now a reality. New E-assessment procedure started

E-assessment vs. Faceless Scrutiny in Income Tax

by Income tax Expert

January 24, 2020 - Updated on January 26, 2020

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In this post we are going to discuss the various differences which we have faced in faceless scrutiny as compared ...