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Monthly Archives: February, 2019

Salient features of Banning of Unregulated Deposit Scheme Ordinance, 2019 restricting acceptance of loans & deposits from any person other than relatives

Ministry of Law and Justice notified The Banning of Unregulated Deposit Schemes Ordinance 2019 vide notification published in official Gazette on 21st February...

KYC for Companies to be filed with Registrar latest by 25th April, 2019 as notified by MCA

Ministry of Corporate Affairs (MCA) has introduced KYC of Companies by inserting Rule 25A under Companies (Incorporation) Rules, 2014. This has been notified by MCA...

GST Update – Circulars issued by CBIC related to returns & invoices

GST Policy Wing, CBIC has issued three circulars on 18th February, 2019 as listed below in brief. Circular...

Norms for Angel tax relaxed; no tax on issuance of shares up to Rs. 25 crore

The Department for Promotion of Industry and Internal Trade (DPIIT) has issued a new notification in supersession of its earlier notification no....

Penalty u/s 271I – Non furnishing of Form 15CA and Form 15CB

Notice u/s 271I states that if the assessee has failed to furnish information or has furnished inaccurate information u/s 195(6) in form of...

Representation against contention of GST Department for interest liability u/s. 50 on ITC component

A recent “Standing Order” No.01/2019  issued by the Principal Commissioner of Central Tax, Hyderabad on 04-02-2019, instructs GST Tax Officials and field formation Officers to...
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Full ITC cannot be availed when payment is netted off against receivables for the supplies made between Branch and HO

Authority for Advance Ruling (AAR Tamilnadu) pronounced in case of M/s. Sanghvi Movers Ltd. that full ITC cannot be availed by registered branch...

Is the present State of Economy manmade or Natural ?

If the whole world is looking upto India as their prospective market, then how can our Indian economy crash?Is the slow down...

Taxability in case of Insurance Policies in the nature of Pension Fund

In FY 2018-19 and 2019-2020, many taxpayers have received notices from Income Tax Department proposing to tax the total surrender value received...

Circular clarifying GST impact on transactions related to outsourcing of IT enabled services by overseas entities

Central Board of Indirect Tax & Customs (CBIC) issued circular no. 20/06/03/2019-GST dated 18th July, 2019 clarifying implications under GST related to Information Technology enabled...

Popular Posts

Full ITC cannot be availed when payment is netted off against receivables for the supplies made between Branch and HO

Authority for Advance Ruling (AAR Tamilnadu) pronounced in case of M/s. Sanghvi Movers Ltd. that full ITC cannot be availed by registered branch...

Supreme Court Ruling on applicability of PF on allowances

Background The Supreme Court verdict dated 28 February 2019 in the case of Regional Provident Fund Commissioner West Bengal...

Penalty u/s 271I – Non furnishing of Form 15CA and Form 15CB

Notice u/s 271I states that if the assessee has failed to furnish information or has furnished inaccurate information u/s 195(6) in form of...

Taxability in case of Insurance Policies in the nature of Pension Fund

In FY 2018-19 and 2019-2020, many taxpayers have received notices from Income Tax Department proposing to tax the total surrender value received...

Most Commented Posts

Full ITC cannot be availed when payment is netted off against receivables for the supplies made between Branch and HO

Authority for Advance Ruling (AAR Tamilnadu) pronounced in case of M/s. Sanghvi Movers Ltd. that full ITC cannot be availed by registered branch...

Penalty u/s 271I – Non furnishing of Form 15CA and Form 15CB

Notice u/s 271I states that if the assessee has failed to furnish information or has furnished inaccurate information u/s 195(6) in form of...

Norms for Angel tax relaxed; no tax on issuance of shares up to Rs. 25 crore

The Department for Promotion of Industry and Internal Trade (DPIIT) has issued a new notification in supersession of its earlier notification no....

GST Update – Circulars issued by CBIC related to returns & invoices

GST Policy Wing, CBIC has issued three circulars on 18th February, 2019 as listed below in brief. Circular...
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