Dear Professional Colleagues Greetings from GST and Indirect Taxes Committee! We are glad to inform you that GST & Indirect Taxes Committee of ICAI has come up with the Twenty third edition of E-Newsletter on GST click here . This edition of Newsletter provides a professional-oriented knowledge to the readers regarding latest updates on GST and Customs,… Read More »
GST & Income Tax Due Dates : April 2019 Due Date Category Description 07-04-2019 Income Tax Due date for deposit of Tax deducted by an office of the government for the month of March, 2019. However, all sum deducted by an office of the government shall be paid to the credit of the Central… Read More »
Held There is no dispute that the notice u/s 148 was issued to the assessee in respect of assessment years, beyond the period of four years from the end of the relevant assessment years as contemplated under the proviso to sub section (1) of Section 151 of the Act, which stipulates that after the expiry… Read More »
Changes in GST from 1st April 2019 : जीएसटी में बड़े बदलाव 1 अप्रैल 2019 से
Section 50C Income Tax : Study Material Section 50C Income Tax was. Inserted by the Finance Act, 2002, w.e.f. 1-4-2003 and deals with Special provision for full value of consideration in certain cases. Here is the free Study Material on Section 50C of Income tax act FMV u/s 50C can be used only after hearing objections… Read More »
Circular No 97/16/2019 GST Circular No 97/16/2019 GST F. No. CBEC-20/16/04/2018 – GST (Pt. I)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsGST Policy Wing Circular No 97/16/2019 GST Dated 5th April 2019 : Circular clarifying issues regarding exercise of option to pay tax under notification No. 2/2019- CT(R) dt 07.03.2019… Read More »
Provisions relating to payment of GST on reverse charge basis (RCM) under section 9(4) of CGST Act are applicable, irrespective of any threshold limit, right from 1-7-2017 to 12-10-2017 Thus, benefit of exemption from payment of tax on RCM as provided under section 9(4) of GST Act is not applicable from 1-7-2017 as claimed by… Read More »
Issue Properties were notified by the Government of Kerala for acquisition under the Land Acquisition Act, 1894. After discussion and negotiations with the Government, a sale deed was executed, whereby the properties were sold to Vizhinjam International Seaport Limited for a total consideration of Rs.4,69,13,272. Assessing Officer rejected relief of Section 10(37) of Income Tax Act… Read More »
(1) When the parents of the minor are not alive, whether or not the income of the minor is taxable in the hands of the person who is entitled to or in respect of the minor as a representative assessee under Sections 160 and 161 of the Income Tax Act ? (2) Whether, on the… Read More »
MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 3rd April, 2019 F. No. 5(2)-B(PD)/2019.—It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No.F.16(1)-PD/75 dated 30th June, 1975, shall with effect… Read More »