Notice 2019-35 provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates used under § 417(e)(3), and the 24-month average segment rates under § 430(h)(2) of the Internal Revenue Code. In addition, this notice provides guidance as to the interest rate on 30-year Treasury securities under § 417(e)(3)(A)(ii)(II) as in effect… Read More »
Reporting requirements under clause 30C (pertaining to General Anti-Avoidance Rules (GAAR)) and clause 44 (pertaining to Goods and Services Tax (GST) compliance) of the Form No. 3CD is been kept in abeyance till 31st March, 2020. Circular No. 9/2019 F. No. 370142/9/2018-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesTPL Division **** New… Read More »
QR codes may be mandatory for all Shops to Pay GST Invoices The government is now looking to make a quick response (QR) code-based payment method using the Unified Payments Interface (UPI) mandatory for all shops and establishments beyond a certain threshold. The move had been approved by the GST Council before the… Read More »
On May 10, 2019, National Academy of Customs, Indirect Taxes & Narcotics, Faridabad (NACIN), vide press release, has notified that persons who have enrolled as Sales Tax Practitioners or Tax Return Preparers under the existing law for a period of not less than 5 years, for GST Practitioner exams have their last chance to appear… Read More »
HIGH COURT OF ALLAHABAD Ganga Industries v. Union of India PANKAJ MITHAL AND PANKAJ BHATIA, JJ. WRIT TAX NO. 1603 OF 2018 DECEMBER 14, 2018 Naveen Chandra Gupta and Lokesh Mittal for the Petitioner. ORDER 1. The goods and the vehicle of the petitioner have been seized as the date of the tax invoice mentioned in the E-WAY bill was different… Read More »
List of Car Insurance companies in USA Here is the List of Car Insurance companies in USA Geico Car Insurance Company What does GEICO stand for? Government Employees Insurance Company. Puzzled, are you? Well, the name goes back to the beginnings of the company. Founder Leo Goodwin first targeted a customer base of U.S. government employees and military… Read More »
The Taxpayer Advocate Service (TAS) What is TAS? TAS is an independent organization within the IRS that helps taxpayers and protects taxpayer rights. Their job is to ensure that every taxpayer is treated fairly and that you know and understand your rights under the Taxpayer Bill of Rights. How Can You Learn About Your Taxpayer Rights? The Taxpayer… Read More »
Exporters of goods and services as well as suppliers to SEZ units are likely to get GST refunds automatically from June as the revenue department plans to introduce faceless scrutiny of refunds and faster claim settlement, an official said. Under GST, every person making a claim of refund on account of ‘zero-rated’ supplies has two options. Either… Read More »
NSDL latest e-TDS TCS Return Preparation Utility (RPU) Version 2.7 effective from 12.05.2019 e-TDS/TCS File validation utility (FVU) versions 2.157 for FY 2007-08 to FY 2009-10 and 6.2 for FY 2010-11 onwards have also been released e-TDS/TCS Return Preparation Utility Ver. 2.7 for Regular & Correction quarterly e-TDS/TCS statements from FY 2007-08 Download RPU version… Read More »
Choosing a Tax Preparer in USA Here are a few points to keep in mind when someone else prepares your return: Check the Preparer’s Qualifications. New regulations require all paid tax return preparers to have a Preparer Tax Identification Number (PTIN). Tax return preparers have differing levels of skills, education and expertise. In addition… Read More »