Complete Ordinance – The Banning of Unregulated Deposit Schemes Ordinance, 2019

Whether companies are also liable for late filing penalty even though there is no income??

In absence of any valid reason to believe that assessee’s income has escaped assessment, assumption of jurisdiction as prescribed u/s 147 is bad in law.

No disallowance u/s 40(a)(ia) if TDS certificate clearly refers to the assessee being exempted and the fact that TDS on rent payment would only result in refund of the same

‘GST Registration’

No concealment penalty if expenses disallowed by AO were otherwise allowable in next FY: HC

If AO failed to analyse details of expenditure while forming a belief that income had escaped assessment, re-opening of case u/s 147 is bad in law.

Ponzi schemes, which lure middle class people with hefty interest rates must come to an end but not at the cost of small businessmen !!

Cash claimed to have been received as gift if the recipient fails to explain the reason behind piece-meal deposit of an amount purportedly received in lump-sum

Unsecured Loans taken for business is not violation of “The Banning of Unregulated Deposit Scheme Ordinanc-2019” . Department of Financial Services (DFS), Government of India clarified by tweeting.

Validity of addition if the creditors have declared sufficient bank balances also supported by the documentary evidences

Cost of land forms the part of capital gain exemption

ICAI advisory on e-Form ACTIVE to be filed by every company incorporated on or before 31.12.17

Whether the job worker will have to be compulsorily registered under GST

GST Fraud: E way Bill issued even on vehicle under seizure

Recommendations of the 33rd GST Council meeting

Some clarification out of the Press release when Cabinet approved Proposal for Official Amendments to the Banning of Unregulated Deposit Schemes Bill, 2018

Importance of “Deposits” under the Unregulated Deposit Scheme Ordinance