Businesses should review depreciation deductions rules Businesses should know the tax rules for deducting depreciation on certain property. This deduction can benefit eligible business taxpayers. The Tax Cuts and Jobs Act made changes to the rules around depreciation that will affect many businesses. First off, businesses should remember they can generally depreciate tangible property, except land. Tangible… Read More »
IN THE ITAT JAIPUR BENCH St. Wilfred Educational Society v. Principal Commissioner of Income-tax (Central), Rajasthan VIJAY PAL RAO, JUDICIAL MEMBER AND VIKRAM SINGH YADAV, ACCOUNTANT MEMBER IT APPEAL NOS. 09 & 10 (JP) OF 2019[ASSESSMENT YEAR 2014-15] MARCH 18, 2019 Dilip Shivpuri, Adv. and Rohit Badaya, CA for the Appellant. Varinder Mehta, (IT-DR) for the Respondent. ORDER Vikram Singh Yadav,… Read More »
On May 08, 2019 vide Circular No. 1069/2/2019/2019 CX, in order to integrate the existing ACES functionalities of Central Excise and Service Tax with GST, data migration from ACES to CBIC-GST application has been started and is expected to be completed by May 25, 2019. Post migration taxpayers will be able to log in on… Read More »
The Applicant is engaged in the manufacturing and retailing of jewellery and articles made of gold, silver, platinum, diamonds and other precious stones under the brand name “Senco Gold & Diamonds”. Apart from his own retail stores, the Applicant also maintains a network of franchisee-operated stores. He grants such a franchisee the right and license… Read More »
The Form GSTR-3B filed manually has since been processed and the notional demand in respect of Rs.16.80 crores has been reversed. It is submitted that in these circumstances, given that the system problem arose on account of design limitation, the respondents should not enforce any further demand, penalty, interest or late submission fee. HIGH COURT… Read More »
HIGH COURT OF GUJARAT Pranit Hem Desai v. Addl. Director General, DGGI MS. HARSHA DEVANI AND BHARGAV D. KARIA, JJ. R/SPECIAL CIVIL APPLICATION NO. 7321 & 7323 TO 7327 OF 2019 APRIL 12, 2019 D.K. Trivedi for the Petitioner. ORDER Harsha Devani, J. – In all these petitions, the petitioners have challenged the orders of attachment of the bank… Read More »
As per CBDTs Notification 36/2019, dated 12th Apr 2019 the format of TDS statement in Form No. 24Q, Annexure – II has been revised. The notification shall come into force w.e.f. 12th May 2019. The revised Form 24Q, Annexure – II has brought certain changes with regard to the reporting of transactions while filing the TDS statements.… Read More »
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