Notification No 18/2019 Central Tax [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]Government of IndiaMinistry of Finance(Department of Revenue)Central Board of Indirect Taxes and CustomsNotification No 18/2019 Central Tax New Delhi, the 10th April, 2019 Seeks to extend the due date for furnishing FORM GSTR-7 for the… Read More »
Notification No 17/2019 Central Tax Seeks to extend the due date for furnishing FORM GSTR-1 for taxpayers having aggregate turnover more than Rs. 1.5 crores for the month of March, 2019 from 11.04.2019 to 13.04.2019 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry… Read More »
How to File ITR 1 Online AY 2019- 20 कैसे भरें ITR 1 Sahaj Related Post Rule 12 of Income Tax Rules from 1st April 2019 for ITR of AY 2019-20 Who has to file Income Tax return online for AY 2019-20 (FY 2018-19) ITR 4 Sugam AY 2019-20 Key Changes ITR 3 AY 2019… Read More »
HIPL India Private Ltd. Vs ACIT (ITAT Bangalore) Issue :In the instant case, assessee-company had claimed deduction of audit Fees/bank charges, rates and taxes and communication and office expenses, etc. AO held that as business of assessee was not set up, therefore, revenue expenses claimed as deduction had to be capitalised as pre-commencement expenses Held:… Read More »
As per Section 45(4) of the Act the amounts received by a partner on his retirement from a partnership firm is not liable to capital gain in the hands of the partner. However, it is the partnership firm which is liable to pay the tax . HIGH COURT OF BOMBAY Principal Commissioner of Income-tax, Central-2,… Read More »
RBI/2018-19/166DCM (CC) No.2482/03.39.01/2018-19 April 08, 2019 Chairman/Managing Director/Chief Executive DirectorAll banks Madam/Sir, Minimum Standards for a Currency Chest As stated in para 15 of the monetary policy statement dated October 04, 2016, the Bank had constituted a Committee on Currency Movement (CCM) [Chair: Shri D.K. Mohanty, Executive Director]. The Committee, inter-alia, recommended that the Reserve Bank… Read More »
F Income Tax Changes from 1st April 2019 The Government had made various changes under Income-tax law w.e.f 01.04.2019 by Finance Act 2019 : Download Section 87A rebate Increased The amount of tax rebate under Section 87A has been increased from Rs. 2,500 to Rs. 12,500. Further, it shall be available to a resident individual… Read More »
Facts of the Case : whether the assessee is entitled for deduction u/s. 54F of the 1961 of the Act by making reinvestment in new residential flat , with respect to capital gains arisen on sale of commercial flat used by assessee for clinic on which even depreciation u/s 32 of the 1961 Act was claimed… Read More »
As per the AIR Information, the assessee had executed one transaction of sale of one immovable property at A-34, Sector 30, Noida for Rs.83,70,000/- on 23rd June, 2009 and the Assessing Officer (AO) noted that this transaction had not been reflected in the Return of Income. The assessee was asked to explain the same. It was… Read More »
Income Tax Return ITR 1 & 4 for AY 2019-20 is available for e-Filing. Other ITRs will be available shortly. ITR 1 AY 2019-20 ITR 1: For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural… Read More »