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ITAT's Delhi Order for Harjeet Kaur

ITAT Quashes Addition as Cash Deposited for Low-Cost Marriage

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled the taxpayer had elaborated, deposits were being incurred in the way of cash withdrawals which would be functioned before for the intention of the marriage of her daughter. Bench, Saktijit Dey (Judicial Member) saw that a taxpayer who explained the case was reasonable if […]

Necessary Factors for Controlling Tax Credits

5 Essential Factors for Managing TDS & TCS Credits Smoothly

Usually, companies take the risk of losing the tax credits (TDS and TCS) because of a lack of regular reconciliation between books of accounts and government records Form 26AS. The year-on-year TDS credit lock-up directed to inefficiencies in the working capital which would be the major subject to think about for CFOs and tax heads […]

Important Key Learnings for Tax/CA Practitioners

8 Very Important New Key Lessons for Tax/CA Practitioners

A chartered accountant is a most important profession, a CA is needed in all companies and businesses. He just computes and quotes all the financials of the company and helps in filing the Income tax return, GST compliance, auditing, corporate finance, business recovery, etc followed by important dates for their clients as per the statutory […]

New Record of E-way Bills in Counting

E-way Bills Get Highest Number, Signaling Economic Growth

E-way bill generation would have spotted a surge in the month of March in the current year, directing to the record-high GST collection Electronic permits for transporting goods within and across states (e-way bills) have attained the highest record of over 84 million in the month of September, which shows the growth of the economy […]

Jaipur ITAT's Order for Equalisation Levy on Google Ads

ITAT: No Equalisation Levy on Google Ads Due to Foreign Audience

Recently the Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) stated that the equalization levy is not eligible to be payable on the payments of advertising when the target audiences, as well as the advertisers, are located outside of India. The bench of Dr S. Seethalakshmi (Judicial Member) and Rathod Kamlesh Jayantbhai (Accountant Member) […]

ICAI 1st Placement Program for Women CAs

ICAI: 1st Job Placement Program for Women Chartered Accountants

The Institute of Chartered Accountants of India (ICAI) will organize the first-ever placement program for women Chartered Accountants (CAs) in India. All women Chartered Accountants (with no full-time COP) who obtained a membership on or before 30th September 2021 are eligible to participate. The registration process is open at cmib.icai.org and will end on October […]

Analysis of Clause 44 of 3CD Form

Analysis of Tax Audit Clause 44 of 3CD Form for Reporting

In the current times, Clause 44 of 3CD become the ‘Buzz word’ for every professional. People are giving their views recognizing the aspect of reconciliation with indirect tax records. Form 3CD of Tax Audit Report (TAR) was revised in July 2018 via Notification No. 33/2018 on 20.07.2018 to include Clause 44 on reporting of GST […]

ICAI Suggested No Tax Advisory Under Management Service

ICAI: Management Services to Not Come Under Audits & Compliance Advisories

The Institute of Chartered Accountants of India (ICAI), suggested to the government that tax audits along with tax compliance services directed to the company through its statutory auditor must not interfere as management service, a segment of offering which they are restricted from rendering. The suggestion arrives while the government is working on revising the […]

Non-Tax Incentives Relief for Solar Industries

Govt Starting Tax-free Incentives to Reduce Solar Import Duties

Supporting the impact of higher import duties on solar modules and cells, the government has started providing incentives to the domestic solar industry. But it seems that there is no intention of the government to provide tax relief to the importers of solar modules, for support, the government is open to validating the workable plans […]

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