Income Tax Raid on Income Tax Commissioner

Amending Invoices reported in Form GSTR 1, pertaining to financial year 2017-18

Payment towards amenities like club membership fee, car parking fee, electricity and water etc at the time of purchase of immovable property

Now, gift received by NRI non relative will be taxable in India

Budget – 2019 Special: CA Naresh Jakhotia Additional benefit of Rs. 1.50 Lakh towards housing loan is like an apple you can’t eat

Importance of Aadhar Widened

Government doing everything to give taxpayer pre filled income tax return – Extracting all the information through Statement of Financial Transactions (SFT)

Now additional tax benefit to salaried and other taxpayers on purchase of electric car

Electric Vehicle: Taxation

Budget – 2019 Special: Paying electricity bill of Rs. 1 Lakh in a year – Mandatory to file income tax return now

Union Budget – 2019 & Income-tax amendment proposed

DTAA Between India and Botswana

Now, personal payment to contractors or professional will attract TDS

Union Budget – 2019 has mandated acceptance of payments through prescribed electronic modes

DIRECT TAX BUDGET PROPOSALS

Clarification regarding Annual Returns and Reconciliation Statement via Press Release, Ministry of Finance , 03rd July 2019

RCM on Security Service

No Input Tax Credit for GST paid on expenses incurred on promotional schemes, rules AAR