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Income Tax Compliance306th Issue of Tax Connect
Tax Calendar Due date Form/Return/Challan Reporting Period Description 11th July 2021 GSTR-1 June 2021 For the month of June 2021 ( For other than taxpayers under the QRMP scheme) 13th July 2021 GSTR-1 June 2021 For April to June 2021 (who opted QRMP) 13th July
Income Tax ComplianceApplicability Of Section 194Q
This section would be applicable from 1st July 2021. CBDT issued its clarifications regarding this section just in the nick of time. According to circular No 13 of 2021 dated 30.06.2021; 1)Transactions through recognized stock exchange Transactions in securities and commodities made
GST LitigationInterim restraining order against Sec 194N (TDS provision on cash withdrawal )
Tax Deduction at Source (TDS) under section 194N of the Income Tax Act, 1961 mandated banks, cooperative banks, and post offices to deduct a TDS @ 2% on every withdrawal in excess of one crore rupees during the previous year made by any person (herein
UDIN Full Form & Format: 18-Digit ICAI Document Number
UDIN stands for Unique Document Identification Number, an 18-digit ICAI code on documents certified by CAs. See its format and how banks can verify it.
GST ComplianceAccounting procedure of e-commerce operators and applicability of sec 52 of GST (TCS)
E-commerce is facing a lot of issues in GST. There are unanswered questions related to accounting, compliance, and filing of returns. They have a different setup. They control the sales but don’t sell directly. Thus they play the role of intermediary between the seller and
GST LitigationAllahabad HC Order in the case of M/s Jindal Pipes Limited Versus The State Of U.P.
Case Covered: M/s Jindal Pipes Limited Versus The State Of U.P. Order of the Hon’ble Court: Counter affidavit has been filed by the learned Standing Counsel. The same be kept on record. Learned counsel for the petitioner, however, does not wish to file a rejoinder
Income Tax Compliance15 Reasons Why We Should File an ITR
An income tax return is an assessment of the income of a taxpayer. This is an annual statement. All incomes during the year and deductible expenses and losses are declared in this return. It is mandatory for some taxpayers. But in any case filing, ITR
Import / ExportOnline filing of AEO T2 and AEO T3 applications: CBIC
Circular No. 13/2021 To, All Principal Chief Commissioners/ Chief Commissioners of Customs/ Customs (Preventive), All Principal Chief Commissioners/ Chief Commissioners of Customs & Central tax, All Principal Commissioners/ Commissioners of Customs/ Customs (Preventive), All Principal Commissioners/ Commissioners of Customs & Central tax, Related Topic: 306th
Income Tax ComplianceBest Salary Structure to Save Income Tax
Most of the salaried people are envious of the self-employed because they receive their salary after deduction of TDS and they can do nothing about it. Today we are going to tell salaried people about legitimate ways to reduce their income tax by fine-tuning
GST LitigationDelhi HC order in the case of PCIT V/s M/s Brahma Centre Development Pvt. Ltd.
Case covered: Principal Commissioner of Income Tax Versus M/s Brahma Centre Development Pvt. Ltd. Facts of the case: The above-captioned appeals are directed against the common order dated 18.12.2019, passed by the Income Tax Appellate Tribunal [in short “Tribunal”] in ITA Nos. 4341/Del/2019 and 4342/Del/2019,
Import / ExportImprovements in Faceless Assessment – Turant Faceless Scheme
Introduction- New CBIC introduced the ‘Turant – Faceless Assessment’. This is introduced to reduce the manual work. CBIC wants to increase automation. It is one of the measures from many to improve cross-border business. India ranks very low on ease of doing business. It is
GST ComplianceRTI revealed that Government levied Zero penalty on Infosys
Introduction- There is a lot of hue and cry on the performance of Infosys. Earlier GST portal and now income tax one. Both are spoiled by Infosys and are an example of their professional failure. But the government kept levying the penalties on the public
CA Ram BajajJul 8, 2021