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Waiver of Condonation Fees by ICAI
Important Announcement Amid the current situation arising out of Covid-19, it is observed that some of the students, Articled Assistants, Members & Firms are still facing difficulties in online filing of prescribed application Forms for various activities due to unfavorable situation. Further, delay in submission
QR – 69 furnishing of Quarterly TCS statement
Regarding furnishing of Quarterly TCS statement in Form No. 27EQ u/s 206C(3) of the Income Tax Act, 1961 & Rule 31AA of Income Tax Rules, 1962 for the financial year 2020-21 1. Section 206C(3) of the Income Tax Act, 1961 provides that any person collecting
Meaning of term Contravention for Detention and Seizure u/s 129 of CGST Act, 2017
Meaning of term Contravention for Detention and Seizure u/s 129 of CGST Act, 2017 The procedure of Way Bill was introduced to control the evasion of the tax. The context in which the rules related to waybill to put a check on evasion of tax.
QR – 67 Furnishing of Quarterly TDS Statements
QR – 67 {One must know Choti Choti Baten about the tax law} Regarding furnishing of Quarterly TDS statements in Form No. 24Q, 26Q and 27Q u/s 200(3) of the Income Tax Act, 1961 & Rule 31A of Income Tax Rules, 1962 for the financial
[watch video] Section 44AD – Presumptive Taxation for small businesses
Section 44AD – Presumptive Taxation for small businesses Section 44AD – Presumptive Taxation for small businesses.This is special scheme for small businesses. They can pay tax easily with simplified return. No need to calculate the profit. It is fixed on a percentage. Although they can
QR – 68 No Extension for Form No. 26QB, 26QC & 26QD
QR – 68 No Extension for Form No. 26QB, 26QC & 26QD Regarding furnishing of monthly Challan-cum-TDS statements in Form No. 26QB, 26QC and 26QD u/s 200(3) of the Income Tax Act, 1961 & Rule 31A of Income Tax Rules, 1962 for the financial year
Section 44ADA – Presumptive Taxation for small professionals
Presumptive Taxation for small professionals – Section 44ADA SPECIAL PROVISION FOR COMPUTING PROFITS AND GAINS OF PROFESSION Applicability Section 44ADA shall apply if all the following conditions are satisfied: The assessee is resident in India and he is engaged in a specified profession (i.e. legal,
QR – 65 Getting The Accounts Audited And Furnishing Of The Audit Report
Regarding getting the accounts audited and furnishing of the audit report under various provisions of the Income Tax Act, 1961 {besides section 44AB and section 92E} for the assessment year 2020-21 1. As per different provisions of the Income Tax Act, 1961, besides section 44AB of
QR – 66 Obtaining & Furnishing of Audit Report
Regarding obtaining & furnishing of the audit report u/s 92E of the Income Tax Act, 1961 relating to international transactions & specified domestic transactions (Transfer Pricing) and furnishing of return of income thereof for the assessment year 2020-21 1. Chapter X of the Income Tax
Interest Refund For Lockdown Period- All You Need To Know
Interest on Interest Waivers: Eligibility & How Much Can You Save? 1. Who is eligible for a refund of the Compound interest of the Moratorium period? The Moratorium relief plan announced recently is designed to provide reimbursement or rebate to those consumers who have been
Notification No. 79 /2020 – Central Tax
Notification No. 79 /2020 – Central Tax [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 79 /2020 – Central Tax
Notification No. 80 /2020 – Central Tax
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 80 /2020 – Central Tax New Delhi, the 28th October 2020 G.S.R…..(E).–