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Search results for: Income tax Act

GSTAT & Amnesty Scheme Setup in Budget 2023-24

Budget 2023-24: Excellent Time to Setup GSTAT & Amnesty Scheme

Finance Minister Nirmala Sitharaman, while presenting Union Budget 2021 referenced Rabindranath Tagore and stated that ‘faith is the bird that senses the light and sings while the morning is still black’. As another union budget release approaches, the market and residents remain hopeful and await budget pronouncements with bated breath, under the shadow of another […]

Artificial Intelligence vs Auditors

How Can Artificial Intelligence Make Auditors Jobless? Check

For making the business advantageous every industry would be seen to take upon the upgraded technology in the current rising technological world. Via analyzing the businesses providing effective quality goods and services to the market would be possible which is a tough competition. These technologies consist of Artificial intelligence(AI), Robotic process automation (RPA), and Machine […]

GST Exemption on Health & Life Insurance Premiums

Insurance Companies Request GST Exemption on Health & Life Insurance Premiums

As the Union Budget 2023 is approaching nextly, the industries are putting their points. One of the sectors is the insurance sector which asks for the exemption for health insurance and life insurance, citing that no GST would be levied on these two. Tax experts mentioned that the “Insurance sector is still facing the issue […]

Calcutta HC's Order for LGW Industries Limited & Ors

Calcutta HC: Authority Can’t Be Refused GST ITC Due to GSTIN Cancellation

Input Tax Credit (ITC) cannot be denied owing to the cancellation of the GST Registration with retrospective effect, according to a decision by a division of the Calcutta High Court (HC). The respondents in the writ petition are LGW Industries Limited & Ors. Although the respondents/writ petitioners had requested a broader relief in the writ […]

General Queries with Solutions Related to MCA21, V2 & V3

Most Common MCA21, V2 & V3 Problems with Proper Solutions

The V2 portal is Version 2 of the MCA portal, which was used to file numerous forms pertaining to corporations and limited liability partnerships. LLP Solutions have been decommissioned on the V2 portal and relocated to the V3 portal. The MCA is in the process of updating the current portal version from Version 2 to […]

WB AAR's Order for M/s. Snehador Social and Health Care Support LLP

AAR: 18% GST on Regular Monitoring Services for Senior Citizens

The applicant’s provision of regular medical monitoring services and other logistical support to senior citizens at their doorstep does not qualify for exemption from the application of the Goods and Services Tax, which is subject to an 18% rate as determined by the West Bengal Authority for Advance Ruling (AAR). The authority noted that the […]

ITAT Gauhati's Order for M/s. Dhar Construction Company

ITAT Denies TDS Applicability on Salary, Commissions, etc to Partner by Firm

The Income Tax Appellate Tribunal, Gauhati Bench ruled that the finding of the id. CIT(A), acknowledging the provisions of Explanation 2 to Section 15 of the Act that consists of the salary, bonus, commission, or remuneration obtained via partner beneath the head ‘salary’ and considering the provisions of section 192 of the Act specified about […]

Process to Generate Form 16B by Gen TDS Software

How to Generate Form 16B Certificate Via Gen TDS Software

What is Form 16B? The amount of money deducted as property TDS is essentially shown by Form 16B. In this instance, the buyer must essentially deduct the TDS from the property at the time of sale. The amount deducted as TDS on the sale property that the buyer had deposited with the Income Tax Department […]

Tech Sector Expectations from Budget 2023-24

Technology Sector Expectations from Upcoming Budget 2023-24

In the present geopolitically unstable times, India is projected to become even more appealing as an investment location with the Union Budget 2023-24 announcements on February 1. The development of the information technology industry will probably play a significant role in achieving this objective. In 2023, information technology investment in India is expected to increase […]

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