UNDERSTANDING STATEMENT OF FINANCIAL TRANSACTION (SFT) To keep a watch on high value transactions undertaken by the taxpayer, the Income-tax Law has framed the concept of statement of financial transaction or reportable account. With the help of the statement the tax authorities will collect information on certain prescribed high value transactions undertaken by a person… Read More »
SET OFF AND CARRY FORWARD OF LOSS UNDER THE INCOME-TAX ACT 1961 Loss from exempted source of income cannot be adjusted against taxable income If income from a particular source is exempt from tax, then loss from such source cannot be set off against any other income which is chargeable to tax. E.g., Agricultural income… Read More »
SENIOR CITIZEN बुजुर्गों को हर महीना मिलेंगे Rs 41000 सरकारी योजना। SENIOR CITIZEN SAVING SCHEME !
हे भगवान ! GST Act में इतनी बड़ी गलती ! BIG MISTAKE IN GST ACT ! Credit or Payment is a Problem
अधजले बैंक नोट मिलने पर INCOME TAX ON HALF BURNT CASH FOUND IN HOUSE ! INCOME TAX RULE 2025
Issue in filing applications (SPL 01/SPL 02) under waiver scheme Mar 21st, 2025 1. Grievances are raised by taxpayers regarding difficulties faced while filing the waiver applications. Following grievances faced by taxpayers have come to the notice of GSTN and team is working to resolve the issues at the earliest. i. Order number… Read More »
सावधान ! INCOME TAX NOTICE ! INCOME= 0 TAX DEMAND RS 40 LAKH आयकर नोटिस: अनदेखी का नतीजा
13 IMPORTANT GST CASE LAWS 05.03.2025 Section Case Law Title Brief Summary Citation Relevant Act 16 Mellow Foundation Builders and Developers (P.) Ltd. v. Superintendent Central Tax And Central Excise ITC denial unsustainable as time limit for return filing was extended. Matter remanded. Click Here Central Goods and Services Tax Act, 2017 16 High Tech… Read More »
Registration Restored Upon Payment of Outstanding Dues. Issue: Whether a cancelled GST registration can be restored if the petitioner is ready to pay all balance tax, interest, and late fees, including any outstanding dues of tax, interest, and penalty. Facts: The petitioner’s GST registration number was cancelled. The petitioner filed a writ petition seeking to… Read More »
Limitation for appeal starts from rejection of rectification, not original assessment. Issue: Whether the limitation period for filing an appeal against an original assessment order starts from the date of the original order or the date of rejection of a rectification application filed under Section 161 of the CGST Act. Facts: The assessee filed a… Read More »