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The Andhra Pradesh State Government has formed a three-member committee to investigate taxpayers’ complaints over elevated evaluations and their requests under the GST regime. D. Ramesh (Commissioner, ST) Audits functions as the committee’s chairperson on the Board. It consists of one secretary, Y. Kiran Kumar (Jt. Commissioner, Enforcement-1), and one member, G. Kalpana (Jt. Commissioner, […]
Real estate companies would have much more financial data for monitoring such as rental income, property sales, commission payments, etc. Ineffective accounting management leads to emerging issues. The major step in handling the finances is to ensure that all the income along with the expenses would be recorded precisely. It renders that posing a system […]
What is the Simple Meaning of LLP Form 8? LLP Form 8 is a compulsory form which files annually by the ROC. This is a Statement of Accounts and Solvency. It contains a declaration of solvency by the designated partners as well as a description of the LLP’s assets, liabilities, income and expenditures. Every year, […]
The GST wing of the Central Board of Indirect Taxes and Customs (CBIC) would have issued GST show-cause notices to various tax-evading entities underpaying taxes. Under reports, the department would provide more than 20,000 notices to the defaulters. For the concern of tax evasion in FY 2017-18, nearly 20,000 notices were issued post-scrutiny of the […]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled, tax liability under section 206C of the Income Tax Act,1961 would come, the taxpayer has unable to file Form 27C and Tax Collect at Source (TCS) exempted on the scrap sale. The petitioner was represented via Shri Jinesh Shah and the respondent […]
The Madhya Pradesh High Court ruled that penalty u/s 271(c) of the Income Tax Act, 1961 shall not be levied in the absence of intentional concealment and false details. The respondent company M/s S Kumar Tyres Manufacturing co. ltd. was made in the year 1985 and has the business of manufacturing of tyers and trading […]
The purpose of a Director’s Report is to explain to shareholders the business and affairs of a company and its subsidiaries as well as the scope of the company’s operations. Based on the signing of financial statements, the Report shall be prepared. In this report, the Company will discuss its affairs and what steps it […]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled that any sum filed to the employee as a bonus or commission for the services furnished required to be permitted as a deduction. The bench of Saktikit Dey sees that the reasonableness of the payment or the sufficiency of services provided by the employee […]
It is now feasible to make complex applications without spending much money, waiting for days or months, or employing various developers, it can be possible because of the technology. low code no code platform development help organizations boost productivity, save time and effort, and minimize development costs. For developing effective applications it is not required […]
