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Articles by VIVEK JALAN

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How to Navigate Modified ITR for Business Reorganization: A Guide Until June 30, 2024

  VIVEK JALAN    13 April 2024 at 06:38

Modified ITR for Business Reorganization from June 2016 to March 2022 possible until June 30, 2024. Taxpayer to communicate to Jurisdictional Assessing Officer (JAO) by 30th April 2024.



Can Share Valuation under DCF Method be Rejected and Recalculated by the Assessing Officer?

  VIVEK JALAN    09 April 2024 at 08:46

Any businessman or entrepreneur, visualises the business based on certain future projection and undertakes all kind of risks. It is the risk factor alone which gives a higher return to a businessman and the income tax department or revenue official cannot guide a businessman in which manner risk has to be undertaken.



Prioritizing Appeals Disposal by CIT(A) Assessment Units and Additional Joint CIT(Appeals)

  VIVEK JALAN    30 March 2024 at 08:15

Priority/out of turn disposal of appeals by CIT(A) Assessment Units and Additional Joint CIT(Appeals)



RBI streamlines process to standardise filing of supervisory returns by banks, NBFCs

  VIVEK JALAN    29 March 2024 at 08:37

As per FEMA Norms, Supervisory returns refer to all periodic/ ad-hoc data submitted to RBI in formats prescribed from time to time.



Global Minimum Tax: Addressing Digitalization Challenges with Amount B Report and OECD Commentary Updates

  VIVEK JALAN    28 March 2024 at 08:43

Global Minimum Tax: Challenges arising from digitalisation: Release of Amount B report to simplify transfer pricing rules and conforming changes to the Commentary of the OECD Model Tax Convention



Jewellery seizure and addition under Income Tax: Validity and Limits

  VIVEK JALAN    22 March 2024 at 08:49

There is no limit on holding of gold jewellery or ornaments by anybody provided it is acquired from explained sources of income including inheritance.



20-Point Checklist for GST & Income Tax for Trade & Industry at FY 23-24 Year-End

  VIVEK JALAN    20 March 2024 at 08:48

In this article, we will go through a 20-point checklist for GST and income tax compliance which are required to be done in March and April so that the tax compliances can be adequately taken care of.



Making SME Payments by 31st March 2024 for compliance u/s 43B(h) of Income Tax Act

  VIVEK JALAN    15 March 2024 at 08:48

In this article, we pen down the statutory requirements and analysis of this new amendment in detail.



Demystifying ITC Reflection: Asserting the Validity of ITC in GSTR-3B and Beyond

  VIVEK JALAN    06 March 2024 at 14:16

Valid ITC cannot be denied merely due to Reflection in GSTR-3B. Availment of valid ITC in books, GSTR-9 and GSTR-2B is sufficient



MSMEs Year End Payments u/s 43B(h): 10 Point Checklist

  VIVEK JALAN    02 March 2024 at 13:24

10 Point Year End 43B(h) Checklist - 43B(h) Compliances for all (including traders/MSE buyers)