thetaxtalk

Deemed Registration under GST : Instruction for Verification releases by Board

November 28, 2020 0 Comments

Deemed Registration under GST : Instruction for Verification releases by Board Instruction No. 4/3/2020-GST CBEC-20/13/06/2020-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing **** New Delhi, Dated the, 27th November, 2020 To, The Principal Chief Commissioners/ChiefCommissioners/Principal Commissioners/ ...

GST

Madras High Court ordered retrospective registration under TamilNadu GST.

November 27, 2020 0 Comments

Madras High Court ordered retrospective registration under TamilNadu GST. Madras High Court in the case of Tvl. Lourdes Matha Cashew Industries Vs Union of India has allowed the restrospective registration under TamilNadu GST. The petitioned submitted that he had taken steps ...

Income Tax

Kerala High Court upheld the GST registration cancellation as appellant had been delaying payment of CGST & SGST

November 27, 2020 0 Comments

Kerala High Court upheld the GST registration cancellation as appellant had been delaying payment of CGST & SGST COMPLETE ORDER Kerala High Court in the case of Magnamind Ventures (P) Ltd. Vs State of Kerala Appeal Number : WA. No. 658 of 2020 Date of ...

Income Tax

Now, DGGI Rohtak arrests one more in Hisar for issuing fake invoices of ITC

November 26, 2020 0 Comments

Now, DGGI Rohtak arrests one more in Hisar for issuing fake invoices of ITC Ministry of Finance DGGI Rohtak arrests one more in Hisar for issuing fake invoices of input tax credit In pursuance of ongoing investigation of fraudulent passing of Input ...

Income Tax

Income Tax Raid at Kanpur, Gorakhpur, Noida, Delhi and Ludhiana: Shocking revelation – Accommodation entries of more than Rs. 100 crore in the form of non-genuine unsecured loans, Tax Driver is one of the Directors in the companies

November 25, 2020 0 Comments

Income Tax Raid at Kanpur, Gorakhpur, Noida, Delhi and Ludhiana: Shocking revelation - Accommodation entries of more than Rs. 100 crore in the form of non-genuine unsecured loans, Tax Driver is one of the Directors in the companies Government of ...

Income Tax

DGGI, Nagpur Zonal Unit busted Inter State Fake Invoice racket with fake transactions valued at over Rs. 131 Crore

November 25, 2020 0 Comments

DGGI, Nagpur Zonal Unit busted Inter State Fake Invoice racket with fake transactions valued at over Rs. 131 Crore Ministry of Finance Inter State Fake Invoice racket with fake transactions valued at over Rs. 131 Crore value busted by DGGI involving fraudulent ...

IT Judgement

Eligibility of Deduction: Donation by Charitable trust registered u/s 12A to another trust which is not registered

November 24, 2020 0 Comments

Eligibility of Deduction: Donation by Charitable trust registered u/s 12A to another trust which is not registered Charitable trust--Exemption under section 11--Money transferred to unregistered trust Short Overview Where the assessee transferred accumulated funds to unregistered trust then it was clear violation ...

Company Law

“NEW GST RETURNS: (QRMP) Quarterly Return Monthly Payment Scheme”

November 23, 2020 0 Comments

“NEW GST RETURNS: (QRMP) Quarterly Return Monthly Payment Scheme” Introduction: GST Council in its 42nd meeting held on 05.10.2020, had recommended that registered person having aggregate turnover up to five (5) crore rupees may be allowed to furnish return ...

Income Tax

When the Taxmen Knock Your Door…(I)

November 23, 2020 0 Comments

When the Taxmen Knock Your Door…(I) The biggest weapon in the hands of the Income Tax Authorities to unearth black money or curb illegal transactions is by surprisingly knocking the door of the taxpayers through Income tax Raid or Survey. ...

Company Law

“NEW GST RETURNS: (QRMP) Quarterly Return Monthly Payment Scheme”

November 23, 2020 0 Comments

Income Tax

Exemption u/s 10(23C)(iiiad) & Erroneous processing by CPC

November 23, 2020 0 Comments

Exemption u/s 10(23C)(iiiad) & Erroneous processing by CPC Charitable Trusts having multiple educational institutions are facing many issues especially of exemptions u/s 10(23C)(iiiad) of the Income Tax Act, 1961, in processing of returns by CPC and in assessments. Section 10(23C)(iiiad) reads ...

Income Tax

Taxation of Partnership Firm: Retirement & Admission of a partner & Remuneration allowability u/s 40(b)

November 21, 2020 0 Comments

Taxation of Partnership Firm: Retirement & Admission of a partner & Remuneration allow ability u/s 40(b) Query] A partnership firm has 2 partners A and B having a partnership in the ratio of 50 - 50%. If a partner B has retired ...

Income Tax

Inter State Fake Invoice racket with fake transactions valued at over Rs. 131 Crore value busted by DGGI

November 19, 2020 0 Comments

Inter State Fake Invoice racket with fake transactions valued at over Rs. 131 Crore value busted by DGGI Ministry of Finance Inter State Fake Invoice racket with fake transactions valued at over Rs. 131 Crore value busted by DGGI involving fraudulent ...

Income Tax

Futures & Options (F&O) trading & Income tax return

November 19, 2020 0 Comments

Futures & Options (F&O) trading & Income tax return Some transactions are easy to execute but difficult to comply while filing the income tax return. F & O transactions are one such transaction. Confusion prevails as far as return filing is ...

Income Tax

Stamp Duty Valuation u/s 50C cannot be ignored while computing Capital Gain exemption u/s 54F:

November 19, 2020 0 Comments

Stamp Duty Valuation u/s 50C cannot be ignored while computing Capital Gain exemption u/s 54F: Section 50C provides for adoption of stamp duty valuation as the full value consideration for computation of capital gain u/s 48 whereas Section 54F offers ...

Income Tax

High Court denies relief to CIT accused of corruption & causing loss to the tune of Rs. 7.26 crores

November 19, 2020 0 Comments

High Court denies relief to CIT accused of corruption & causing loss to the tune of Rs. 7.26 crores The applicant Ex CIT sought the following reliefs in appeal: (i) To set aside & quash the order dated 14.02.2020 of learned ...

Income Tax

Some Common Mistakes committed by insolvency professionals in conduct of corporate insolvency resolution process

November 18, 2020 0 Comments

Some Common Mistakes committed by insolvency professionals in conduct of corporate insolvency resolution process Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 Facilitation/005/2020 13th November, 2020 To All Registered Insolvency Professionals All Registered Insolvency Professional Agencies All Recognised Insolvency Professional Entities All Registered ...

Income Tax

Partners remuneration disallowed in the hands of the firm u/s 40(b) and its taxation in the hands of the partners

November 18, 2020 0 Comments

Partners remuneration disallowed in the hands of the firm u/s 40(b) and its taxation in the hands of the partners There are instances where the remuneration paid by the firm is not fully allowed as deduction in the hands of ...

All Departments

Deemed Registration under GST : ...

Madras High Court ordered retrospective ...

Kerala High Court upheld the ...

Now, DGGI Rohtak arrests one ...

Author: the taxtalk

Deemed Registration under GST : Instruction for Verification releases by Board

Madras High Court ordered retrospective registration under TamilNadu GST.

Kerala High Court upheld the GST registration cancellation as appellant had been delaying payment of CGST & SGST

Now, DGGI Rohtak arrests one more in Hisar for issuing fake invoices of ITC

Income Tax Raid at Kanpur, Gorakhpur, Noida, Delhi and Ludhiana: Shocking revelation – Accommodation entries of more than Rs. 100 crore in the form of non-genuine unsecured loans, Tax Driver is one of the Directors in the companies

DGGI, Nagpur Zonal Unit busted Inter State Fake Invoice racket with fake transactions valued at over Rs. 131 Crore

Eligibility of Deduction: Donation by Charitable trust registered u/s 12A to another trust which is not registered

“NEW GST RETURNS: (QRMP) Quarterly Return Monthly Payment Scheme”

When the Taxmen Knock Your Door…(I)

“NEW GST RETURNS: (QRMP) Quarterly Return Monthly Payment Scheme”

Exemption u/s 10(23C)(iiiad) & Erroneous processing by CPC

Taxation of Partnership Firm: Retirement & Admission of a partner & Remuneration allowability u/s 40(b)

Inter State Fake Invoice racket with fake transactions valued at over Rs. 131 Crore value busted by DGGI

Futures & Options (F&O) trading & Income tax return

Stamp Duty Valuation u/s 50C cannot be ignored while computing Capital Gain exemption u/s 54F:

High Court denies relief to CIT accused of corruption & causing loss to the tune of Rs. 7.26 crores

Some Common Mistakes committed by insolvency professionals in conduct of corporate insolvency resolution process

Partners remuneration disallowed in the hands of the firm u/s 40(b) and its taxation in the hands of the partners

Information

Customer Care

Sign Up to New letter