Held :- In our view deposit of money by the assessee inter-alia in mutual fund prior to purchase of residential house albeit will not make any difference if the assessee had purchased the residential house within the time provided by the Act ACIT Vs Shri. Sunil Bandacharya Joshi (ITAT Bengaluru) Appeal Number : ITA No.… Read More »
Issue :Revenue’s contention that the Respondent Assessee, a trust, running a hospital, had to deduct the tax at source under Section 192 (salary) of the Income Tax Act, 1961 Held ;Significant features of the contractual relationship between the doctors and the hospital in the present case were that the hospital would provide support service where a… Read More »
Mere recovery of POA from the possession of the assessee is not enough to estimate income against the assessee. The law is clear that POA is meant for doing the certain acts on behalf of the principal. It is also subject-matter of cancellation. Only certain acts which have been authorised by the POA could be… Read More »
If a plot is purchased in contemplation of ensuing construction within a reasonable time even before the transfer of the original asset, there can be no fetters on the allowability of exemption u/s 54F, if other conditions are fulfilled. The assessee acquired land in two parts for construction of a new residential house, viz, the… Read More »
Due date of filing GSTR-3B for the tax period March, 2019 has been extended to 23rd April, 2019. Relevant notification is being issued for the same Source : GST portal
GSTR 3B & ITC Utilization Confusion of Rule 88A CGST : ITC का उपयोग कैसे करें Also Refer Commentary on Rule 88A CGST :ITC Utilization
GST on Builders & Real Estate Transactions-With New GST Scheme for Real Estate/Construction Sector(3rd Edition April 2019) by CA Sandesh Mundra (Author) A Complete Guide to GST on Builders & Real Estate TransactionsAlso Incorporating: Affordable housing Taxability of sub-contractors Retention & withheld amount Free of cost supplies & site transfers Liquidated damages & settlements Job work &… Read More »
Rule 88A CGST :ITC Utilization : Rule 88A of CGST Rules 2017 deals with Order of utilization of input tax credit under CGST Act 2017 . Here is the commentary on Rule 88A Commentary on Rule 88A of CGST Rules 2017 Rule 88A of CGST Rules 2017 is Inserted by Central Goods and Services Tax… Read More »
Input Tax Credit FY 2018-19 Last Date Related Can you use ITC to pay wrong ITC ? How to Claim Excess ITC of GSTR 2A New Auto Reconciliation of Input Tax Credit on GST Portal How to Reverse Incorrect Input Tax Credit ? How to Claim Missed Input Tax Credit of FY 2017 18 GST… Read More »
Certain Income Tax Benefits are given to Senior citiens and super senior citizens under income tax Act. Who is Senior Citizen under Income Tax : An Indian resident who is of the age 60 and above but below 80 during the respective year is categorized as a senior citizen. Who is Super Senior Citizen under… Read More »