Directorate of Income Tax (Systems) issue instruction to AO on time bound reply to response against intimation U/S 245 Central Board of Direct Taxes has issued Instruction No. 06 of 2022 to the AO for response to notice / intimation U/s 245 issued by Centralised Processing Centre Bangalore for decreased in timeline for filling response …
Access or Availability to Chartered Accountants Audit Reports & Steps in The Process Flow for audit report & online Filing 2.0 The post includes a list of 22 audit reports and information on how to file them, as well as Process Flow Steps In Online Filing 2.0 on the New Income Tax Portal for all …
Introduction One of the important laws in establishing the eligibility of Resolution Applicants in the CIRP is Section 29A of the IBC 2016 (“). In its original form, the Code did not contain any clauses that would have prohibited defaulting promoters from repurchasing the corporate debtor at substantial discounts. Section 29A was subsequently added with …
What is ineligibility criteria U/s 29A of IBC Code. The Insolvency and Bankruptcy Code 2016 has been created to investigate prospects for a failing corporate entity to be revived. As a consequence, it invites others who might want come forward & Submit resolution plans for a resolution to do so. The initial strategy was open …
Tax and Statutory Compliance Calendar for Nov 2022 The compliance deadline must be fulfilled, which needs careful planning. So We have created a complete compliance calendar that includes all the important Timeline dates so that you may stay up to date on the statutory & compliance requirements. Here is the prepared tax and Registrar of …
Inverted Duty Structure is applicable under the GST Understanding of Inverted Duty Structure Inverted duty structures arise when the tax rate on input credits used surpasses the tax rate on output supplies. Simple terms, the GST paid on inputs purchased exceeds the GST due on sales. As a result, the registered person’s electronic credit ledger …
Form No.67 is not compulsory but a directory requirement, Disallowance of Foreign Tax Credit due to delay in filing the same not valid: ITAT Income tax Form No.67 is not Compulsory However a directory requirement, the Income Tax Appellate Tribunal Bangalore Bench has held that Income tax disallowance of Foreign Tax Credit due to delay …
Central Board of Direct Taxes releases frequently asked question’s related to filing of Income tax Form 3CEB: Q-1 : What are the essential’s for filing of Income tax Form 3CEB? Ans : Income tax Taxpayer and Chartered Accountants are registered on the e-Filing portal with valid user ID & password Status of Permanent account number of …
We cannot claim input tax credit even if it is within GST portal Now Due to the severity of Input tax credit fraud involving fake entities and invoices, Revised Section 38 was suggested in an attempt to further impose restrictions on Input tax credit claims. Input tax credit cannot be claimed if it is restricted …
New Norms for QR Code on Electronic Products via Legal Metrology law applicable in India Meaning of Legal Metrology Legal Metrology treats a unit of weighment & measurement, methods of weighment & weighing with measurement and measuring instruments, in relation to the compulsory technical & legal needs which have the object of ensuring public guarantee …