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Towards the issue of the Indian economy, the people who have to earn up to Rs 50 lakh the majority of the salaries shrank in the Fiscal year 2020 despite prior to the pandemic has activated the recession income tax return filing data so far this year had posted. Towards furnishing the returns for FY […]
The Income Tax Appellate Tribunal (ITAT), Bangalore court held that the taxpayer in concern to the entitled for availing a deduction of reward paid prior to the appellate authorities. The taxpayer is the owner of FNF India Private Ltd asked the issue with respect to non-grant of the deduction for gratuity amounting to Rs.17,87,315. AO […]
For the appointment of Cost Auditor in the company, Section 148 of the Companies Act 2013 read with the Cost (Records and Audit) Rules 2014 states the following: Each company referred in item (A) of rule 3, i.e., of Regulated sectors which have the total yearly turnover of INR 50 crores or more of the […]
India’s biggest banker State Bank of India (SBI) to impose a levy on those people whose ATM transactions have failed because of not enough balance. A transaction that does not succeed because of insufficient funds in the account of the customer to furnish an additional value as a penalty. There are choices such as missed […]
Firms who were importing the raw substance used to make the sanitizers and disinfectants laid the government to the court towards the nonavailability of the claim of advantages over the apparent typing error in the goods and services tax (GST) platform. Lower custom duty is been paid by the importers of the ‘denatured ethyl alcohol’, […]
The amount furnished in the deposit account or some specified account to utilize the amount for the particular period is permitted as a deduction under section 33AB. Beneath section 33AB of the income tax act, the deduction is open to the taxpayers who are engaged in businesses in India like cultivating and manufacturing tea, coffee, […]
The trader’s community has ordered to launch the nationwide distress to abolish the unfair provision of the Food Safety and Standards Authority (FSSAI) Act and the alterations to the Goods and Services Tax (GST) act. This is implemented in the Maharastra statewide summit which has been conducted through the Apex body of traders- Confederation of […]
Myth 01: The bigger number of the assessee will be influenced by the rule. Fact: For several privileges such as exporters, suppliers of goods of inverted duty structure, assesses who have a footstep in the Income Tax database, etc. it is thought that this rule will be applied to only 0.5% of the total assesses […]
In the Bombay High Court a writ appeal has implied asking the arrest procurements beneath the goods and services tax (GST) laws. GST Input tax credit (ITC) A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India. Read more , has […]
