RCM Back again from 01.02.2019, and this time there will not be any limit of Rs 5,000/-for applicability of RCM [ Read Notification] Notification 8/2017 of central tax was issued by which the government has stated that GST is not applicable under RCM where the aggregate value of such supplies of goods or service or....
1. Tax proposals 2019-2020 at a glance for Individuals Income Tax slabs will remain the same for FY 2019-20. No tax on notional rent of second Self-occupied House under “Income from House Property” (up to two self-occupied house properties) to be considered for exemption. Tax Rebate Limit under 87A increased from Rs. 3.5 lakhs to Rs. 5....
Bombay High Court in case of PCIT vs Vembu Vaidyanathan in ITA no 1459 of 2016 has held Date of allotment of flat to be deemed as purchase date for computing capital gain tax and not date of agreement. The respondent-assessee is an individual. The assessee had filed the return of income for the assessment....
Income-Tax Appellate Tribunal, Agra in case of Fateh Chand Trust & College Committee vide it’s ITA No.406 dated 27th September 2018 has held that sec. 12AA registration couldn’t be rejected on basis that assessee was engaged in education with the profit motive Brief Facts of the Case:- The assessee-society was formed with the object of running various....
Income Tax Department will “only” issue refunds via the e-mode into bank accounts of taxpayers beginning next month and they should link PAN with their accounts, the taxman said in its latest public communication. The department said refunds will be sent to bank accounts as it will issue “only e-refunds from March 1, 2019.” Link....
click on https://customer.andhrabank.in/audit/ Share on: WhatsApp
Respected members, Banks have started making calls for empanelment of statutory branch auditors. Kindly be alert to your phones and mails. Share on: WhatsApp
Simple concept of job work is that principal manufacturer would send inputs or capital goods, under intimation and without payment of tax to a job worker and if required, goods are further sent from one job worker to another job worker and after completion of job work, the goods are returned back to the principal....
1. The due date for filing ITR for Assessment Year 2018-19 For the Assessment Year 2018-19, the due date for return filing was 31st August 2018. Many believe that if they have paid their taxes, they have no further obligation. However, missing the ITR filing deadline has legal consequence. Effective from the financial year 2017-18, a....
High Court of Gujarat in case of Devarsh Pravinbhai Patel v/s Asst Commissioner Of Income Tax vide it’s R/Special Civil Application No. 12965/66 dated 24th September 2018 has held that TDS Credit cannot be denied even if TDS is not deposited by the deductor. Devarsh Pravinbhai Patel (Assessee) was an individual employed as a pilot. During the relevant period,....
