Can CA be arrested- Section 69 vs. Section 132 of the CGST Act In recent few months this topic of harassment and arrest of CA professionals been a matter of debate and agony amongst the GST practitioners. The provisions for arrests were created to tackle certain situations raised by some unscrupulous tax evaders. These
The concept of marginal relief is designed to provide relaxation from levy of surcharge to a taxpayer where the total income exceeds marginally above Rs. 50 lakh, Rs. 1 crore, Rs. 2 crore, Rs. 5 crore or Rs. 10 crore, as the case may be. Thus, while computing surcharge, in case of taxpayers (i.e. Individuals/HUF/AOP/BOI/artificial
Residential Status under Income Tax Act, 1961:- Section 6 of the Income Tax Act, 1961 deals with the residential status of the assesse. Why the determination of residential status is mandatory:- By determining residential status of any person we conclude that whether a person is a resident of India or a non-resident of India. If
S. No. Statue Purpose Compliance Month/Period Due Date Extended Due Date (If any) Event Details 1 Income tax TDS/TCS Payment Aug-21 07-Sep-21 7-Sep-21 Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for previous month. 2 GST GSTR-7 – TDS Return Aug-21 10-Sep-21 10-Sep-21 GSTR-7 is a return to be filed by
Power of Commissioner for provisional attachment under GST In the recent past, it has been seen that the GST authorities are inappropriately misusing the provisions of Section 83 of CGST Act, 2017 for provisionally attaching the properties and bank account of the taxable person without fulfilling the conditions prescribed under the statute for the valid
Across the Globe, various countries in their law of the land have provided for the establishment of Special Economic Zones (SEZs) which are physically located within the borders but financially and economically treated as establishment outside the territory of the country. In India government has provided approval for over 250 SEZs to operated and providing
The Income Tax Department has released the Income Tax Return utility ITR-1 and ITR-4 in JSON format for the AY 2021-22. The utilities for the remaining Income Tax Returns forms yet to be released by the department. This year utility has been released in JSON format only. Excel and Java utilities have been suspended from
Advance Ruling on ITC available on CSR expenses Since the inception of GST law, this question has been raised on various occasions whether CSR expenses which are mandatory in nature to be considered as incurred in the course of business or not. Accordingly, ITC availability of CSR expenses has always raised a question mark in
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