Daily Archives: December 20, 2018

Advance salary received by employee during demonetization is not benami transaction

By | December 20, 2018

APPELLATE TRIBUNAL FOR PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, NEW DELHI T. Raja v. K. Visakh JUSTICE MANMOHAN SINGH, CHAIRMAN FPA/PBPT/30, 31, 53, 55, 59, 60, 63 (CHN) OF 2018 OCTOBER  31, 2018 Anirudh Bakhru and Sudhir Chandra, Advs. for the Appellant. Anish Dhingra, SPP for the Respondent. JUDGMENT   1. By this Order, I propose to decide the above-mentioned seven appeals… Read More »

Changes on Eway bill Portal : Common Enrolment for Registered Transporters

By | December 20, 2018

NATIONAL INFORMATICS CENTRE E-WAY BILL SYSTEM Common Enrolment for Registered Transporters How to Appy for Common Enrolment of Transporter (GST ENR-02) on E Way bill Portal One of the requests of the transporters was that they have to be allowed to use one registration number for updation of e-way bills throughout the country. That is,… Read More »

Section 43B disallowance under Income Tax Act

By | December 20, 2018

Section 43B disallowance under Income Tax Act Section 43B of Income Tax Act : Certain deductions to be only on actual payment. Judgments on Section 43B of Income Tax Act No reassessment to disallow employee’s PF contribution since disclosure was made in Tax Audit report : HC No Deduction for Delayed Payment of employees contribution of… Read More »

GST on Charitable and Religious Trusts

By | December 20, 2018

GST on Charitable and Religious Trusts The provisions relating to taxation of activities of charitable institutions and religious trusts have been borrowed and carried over from the erstwhile service tax provisions. All services provided by such entities are not exempt. In fact, there are many services that are provided by such entities which would be… Read More »

Late Fees & Penalty for delay in filing TDS/TCS Statements under Income Tax

By | December 20, 2018

LATE FILING FEES AND PENALTY FOR FAILURE TO FURNISH/DELAY IN FURNISHING THE TDS/TCS STATEMENTS [As amended by Finance Act, 2018] Before understanding the penalty provisions for failure to furnish the statement of Tax Deducted at Source or statement of Tax Collected as Source (i.e. commonly known a TDS/TCS return) we shall first have a look at… Read More »