THE PUBLIC PROVIDENT FUND SCHEME, 1968

Coaching Class or Hospital by a private limited company? Whether it’s a Business vs Profession? – CA Naresh Jakhotia

Records of subsequent assessment year can provide information for reopening earlier years’ assessment: Supreme Court – CA Naresh Jakhotia

Reopening of Assessment u/s 148: Certain key observation by the Supreme Court in NDTT Vs. DCIT

Clarification regarding short deduction of TDS / TCS due to increase in rates of surcharge by Finance (No.2) Act, 20l9

Income Computation and Disclosure Standard II : Relating to Valuation of Inventories

Income Computation and Disclosure Standard I – Relating to Accounting Policies

Tax Target Given for the FY 2020 – 21

It was impossible to foresee the decision of the Supreme Court. No interest can be charged if the tax liability arises due to Supreme Court decision

No interest u/s 234B & 234C if the tax liability arises due to retrospective amendment of law: Calcutta HC

Word “otherwise” in s. 45(4) takes within its sweep not only cases of dissolution but also cases of subsisting partners of a partnership transferring assets in favour of a retiring partner

If certain tax liability arose by virtue of retrospective amendment then revenue cannot demand interest for short payment of advance tax

PDC ICAI has issued format of communication with banker alongwith checklist.

Due date for ESI contribution for the month of February further extended to 15th May 2020 instead of earlier extended date 15th April, 2020.

Interest paid can be treated as the cost of assets even if the same is claimed as deduction u/s 24(b)

An Important Clarification on Few Challange Faced by GST Registered Person Issued

Confusion Resolved : CBDT issued Circular regarding TDS on Salary Income vis a vis New Tax Option Under Section 115BAC

Levy of interest under s. 234B was not justified when there were conflicting decisions of the Tribunal