COMPARISON BETWEEN SECTION 112 AND SECTION 112A OF INCOME TAX ACT

Rent received from letting of terrace of building is income from House property or Income from other sources

Disallowance under section – AO directed to consider only those investments which had yielded exempt income during the year.

GST Fraud alert. Gang of GST frauds busted, 5 arrested

Agricultural land at the date of the sale would continue to be agricultural land until permission for non-agricultural use is granted and the land is put to non-agricultural use by the purchaser

The provision of s. 68 does not provide that the business of the assessee must start and then after the addition u/s 68 can be made.

AO can impose penalty u/s 271AAB in case where a search is initiated u/s 132 and during such operation assessees admits undisclosed income and specifies the manner in which such income has been derived.

HC deleted sec. 69 additions as assessee duly explained source of advance rental income

Prosecution for delay in payment of TDS: Be careful about observation in ITO vs. Firoz Abdul Gafar Nadiadwala (ACCM)

Loss due to vacancy allowance is deductible even if the property remains vacant for the entire year – Vikas Kehav Garud Vs. ITO (2016) 71 Taxmann 214 (Pune ITAT)

How to change contact details i.e., email and mobile number in GSTN?

Whether tax audit report need to give bifurcation of expenses into GST & non GST payment?

GST & Hostel services : Hostel facility provided for less than Rs. 1,000 per day with other services without any charge is exempt from GST

KEY CHALLENGES IN ANNUAL RETURN

Excellent Representation against complicated GST Annual Return & GST Audit

GST exemption on the upfront amount for long term lease of plots

Delay in issuance of completion certificate on account of time taken by competent authority & admissibility of duction under section 80-IB(10)

Interesting Case: Brokerage paid for arranging tenant is allowable expenditure?