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The Central Board of Direct Taxes (CBDT) has reminded the taxpayers to pay outstanding dues by completing the process by e-filing Form 4 under Direct Tax Vivad se Vishvas (DTVSV) on or before the 31st October 2021. As per DTVSV Form-4, the taxpayer needs to…
RELAXATION OF VALIDATION (SECTION 119 OF THE FINANCE ACT, 2012) RULES, 2021 NOTIFIED Department of Revenue, Ministry of Finance, Central Board of Direct Taxes, notified Relaxation of Validation (section 119 of the Finance Act, 2012) Rules, 2021 vide Notification No. 120/2021 Dated: 13th October, 2021.Form…
PERMANENT ACCOUNT NUMBER (PAN) PAN is assigned to all the taxpayers in India as an identification number. PAN number is a single number which is an electronic system and has all the tax related information for a company or for a person. This act as…
ITC can’t be claimed on GST paid on Inputs Services procured to implement Promotional Scheme under ‘Buy n Fly’: The Tamil Nadu Authority of Advance Ruling (AAR) ruled that the Input Tax Credit (ITC) cannot be claimed on GST paid on inputs services procured to…
The Tamil Nadu Authority of Advance Ruling (AAR) ruled that 18% GST payable on Children Scooter, Activity Ride-on, Smart Tri-cycle and Kick Scooter. The applicant, Joshna Candesh Shah are regular importers and traders of toys from various countries, they sell these goods in India, in…
Who should file Income Tax Return and what are the advantages of filing an Income Tax Return?Any person as described under to section 2(31) of Income tax act are required to file Income tax return if their total net income falls under the taxable category.…
cIn a major drive initiated against fraudsters who are availing and utilizing fake Input Tax Credit (ITC) Thane Central GST Commissionerate, Mumbai CGST Zone has arrested a mastermind who had opened a firm M/s. Doshi Marketing and was operating from Bhayander West. He has indulged…
The Institute of Chartered Accountants of India (ICAI) notified the Exposure Drafts of Amendments to various Engagement and Quality Control Standards. The Institute of Chartered Accountants of India (ICAI) has issued various Engagement and Quality Control Standards over the period of years. These standards contain…
The Telangana Authority of Advance Ruling (AAR) ruled that the GST is payable on land after developing by erecting civil structures or Buildings or Complexes. The applicant, M/s. TIF Integrated Industrial Parks Pvt. Ltd. is a company formed by industrialists as required by the Telangana…
Will Stock market bubble burst or enlarge? Are we really in Stock market bubble?taxguru.in/finance/stock-market-bubble-burst-enlarge-stock-market-bubble.htmlWill Stock market bubble burst or enlarge? Are we really in Stock market bubble? What is Stock Market Bubble ? Unjustifiable High Prices of the shares is a bubble as a result…