TAX ON PRESUMPTIVE BASIS IN CASE OF CERTAIN ELIGIBLE BUSINESSES OR PROFESSIONS [As amended by Finance Act, 2019] This Article discusses about Meaning of presumptive taxation scheme, Presumptive Taxation Scheme of Section 44AD, Section 44ADA, Section 44AE of Income Tax Act , For whom the presumptive taxation scheme of is designed?, Businesses not covered under… Read More »
Fees & Penalty for Delay/ Non filing of TDS Return [As amended by Finance Act, 2019] No filing or Late filing of TDS returns or TDS statement under Income Tax Act shall be liable for 2 penal consequence 1.Fee for late filing U/s 234E and 2. Penalty for late filing or Non filing of TDS… Read More »
INTEREST FOR DELAY IN PAYMENT OF TDS/TCS AND FOR NON-PAYMENT OF TAX DEMANDED [As amended by Finance Act, 2019] Introduction A person is liable to pay interest for various delays/defaults like interest under section 234A for delay in filing the return of income, interest under section 234B for default in payment of advance tax, interest… Read More »
Since offence under Section 132 is made out and Senior Officials of Company are behind bars, Petitioner being Managing Director is responsible and Department has the right to proceed under Section 69 and 70 of the Act. HIGH COURT OF RAJASTHAN Bharat Raj Punj v. Commissioner of Central Goods & Service Tax Department, Jaipur PANKAJ… Read More »