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Search results for: section 54

Who Pays Most of GST Tax?

Oxfam Reveals Shocking Report Over GST Tax Payment by Poor Class

More than 40% of the total wealth made is held by the top 1% of the wealthy people in India from 2012-2021, but only 3% of the wealth would come into the account of the bottom 50%. Only 5% of the Indians hold more than 60% of the country’s wealth. The same would be directed […]

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 […]

GST Input Tax Credit Disclosures in Annual Returns

Deep Study of Tax Credit Disclosures in Annual GST Returns

The GST law would pose the major purpose of the tax which is to get collected merely on the value-added. A method is there in India via which the tax suffered at the before time would be permitted to get lessened from the tax subjected to get paid on the supplies. The same prevents the […]

A Quick Guide to File 15CA & 15CB Via Gen TDS Software

Steps of e-Filing 15CA and 15CB Forms By Gen TDS Software

Simple Definition of the Form 15CA Form 15CA declares that a tax has been deducted from the payment made to an NRI. Instead of leaving the NRI taxpayers to file and pay income tax papers, this helps the Indian government collect tax efficiently at the time of the remittance. Different Components of Form 15CA Part […]

Hyderabad ITAT Order for Fernandez Foundation

ITAT: Charitable Organisation Reg Not Available to Hospitals Charging Commercial Rates

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) stated the taxpayer hospital is levying on the grounds of commercial rates from the patients and is not qualified for registration as a charitable organization under Section 12A of the Income Tax Act. The two-member bench of Laliet Kumar (Judicial Member) and R.K. Panda (Accountant […]

ITAT's Ahmedabad Order for Taraben Jayantilal Patel

ITAT: Not Included Tax Paid on Rent, Form 26AS Can Be Corrected

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) stated that the blunder of containing service tax spent on rent which was in the form 26AS can be fixed. Under Section 143(1) of the Income Tax Act 1961, taxpayer, Taraben Jayantilal Patel obtained the notice where the income through the house property was […]

Chennai ITAT's Order for PKF Sridhar & Santhanam LLP

ITAT: Acceptance of TDS Credit is Proposed When Taxed Along With TDS

The Chennai bench of the Income Tax Appellate Tribunal( ITAT ) stated that TDS Credit is permissible when Income is provided to the tax concerned to specified TDS. Taxpayers firm M/s. PKF Sridhar & Santhanam LLP, in the profession of consulting and auditing. The appellant furnished its income return for the assessment year 2018-19 on […]

Brief Guide to Revise Filed GST TRAN-1 or TRAN-2

Easy Procedure to Revise Filed GST TRAN-1 & TRAN-2 Forms

Introduction of GST Forms TRAN-1 and TRAN-2 GST law comprises the information provisions to take forward the ITC made via the GST-enrolled individuals in the course prior to the date 1st July 2017. These credits (left-out credits) were taken forward or claimed in the GST forms Tran-1 and Tran-2 [T1 and T2] to be filled […]

GST ITC Complexities for Taxpayers

Reasons Why GST Return Changes Will Improve ITC Complexities

The GST law execution in India would have been started through the narrative of national ambition and that of a global exception. To ease the whole GST framework for India Inc the government is enduring a lot via revising the reporting method to make the GST a Good and simple tax for exclusively non-compliant assesses […]

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