Car Mats will not be classified as part of Vehicles : SC Once the subject goods are found to come within the ambit of that sub-heading, for the sole reason that they are exclusively made for cars and not for “home use” (in broad terms), those goods cannot be transplanted to the residual entry against… Read More »
GSTR 3B Last Date for March 2020 I CA Satbir Singh GSTR 3B Date for March 2020, GSTR3B, Late Fees for GSTR3B March 2020,Interest for GSTR3B march 2020,
Income Tax Rates AY 2021-22 TAX RATES In this part you can gain knowledge about the normal tax rates applicable to different taxpayers. For special tax rates applicable to special incomes like long term capital gains, winnings from lottery, etc. refer “Tax Rates” under “Tax Charts & Tables”. Normal tax rates for Individual & HUF:… Read More »
Deduction of tax at source from payment on transfer of certain immovable property [AY 2021-22] 1 Provisions of Section 194-IA: (1) Any person, being a transferee, responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural… Read More »
TDS : Rates for tax deduction at source [For Assessment year 2021-22] Particulars TDS Rates (in %) 1. In the case of a person other than a company 1.1 where the person is resident in India- Section 192: Payment of salary Normal Slab Rate Section 192A: Payment of accumulated balance of provident fund which is taxable in… Read More »
GSTR 1 Last Date for March 2020 I CA Satbir Singh GSTR 1 date March 2020, GSTR 1 due date for March 2020,GSTR 1 Last date for April 2020, GSTR1 Last date for May 2020,GSTR 1 date Extension for March 2020,
Communication with the Retiring Auditor through E-mail The members have raised concerns that during the period of ongoing lockdown, it is not possible for the Incoming Auditor to communicate with the Retiring Auditor through the mode(s) of communication permissible in terms of provisions of Code of Ethics. The existing Code of Ethics, 2009 , provides,… Read More »
No Capital Gain Tax on amount received by Partner on reduction in Profit Sharing Ratio : ITAT we hold that the compensation received by the assessee from existing partners for reduction in profit sharing ratio would not tantamount to Capital Gains chargeable to tax u/s 45(1). Therefore, by deleting the impugned addition, we allow the… Read More »
Delayed Payment of Employee EPF allowed if paid before filing ITR u/s 139 : SC Supreme Court has dismissed SLP of Income Tax Department against following decision. If PF/EPF/CPF/GPF etc., if paid after due date under the respective Act but before filing of the return of income under Section 139(1) of the IT Act, the… Read More »
TDS on Guarantee money will apply even if Cricket Match not played in India : SC In the present case, the Non-resident Sports Associations had participated in the event, where cricket teams of these Associations had played various matches in the country. Though the payments were described as Guarantee Money, they were intricately connected with… Read More »