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Articles by VIVEK JALAN

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AOs Mandated to Issue Low TDS Certificates Based on Rule 28AA Principles

  VIVEK JALAN    28 February 2024 at 14:06

For issuance of Low TDS Certificate, AO cannot see profitability of assesses; But has to rely on 4 principles of Rule 28AA



GST on Post Sale Discounts - First Relief by Madras High Court

  VIVEK JALAN    24 February 2024 at 10:28

The Big Question? Is GST discount a Supply of Services 



CBDT issues order giving effect to the Budget proposal of remitting petty tax demands

  VIVEK JALAN    23 February 2024 at 14:21

In the Interim Budget 2024-25, The finance minister proposed to withdraw direct tax demands up to INR 25000 pertaining to the period up to tax year 2009-10 and up to INR 10000 for tax years 2010-11 to 2014-15.



Form 67 is directory and not mandatory to claim foreign tax credit

  VIVEK JALAN    16 February 2024 at 14:53

It is high time that necessary amendments should be made in the Income Tax Act/Rules to incorporate the process of claiming the tax credit, where the foreign tax credit certificates are received by an assesses even after the end of the assessment year.



TDS Deductors may witness notices on deduction if the counter-party disagrees

  VIVEK JALAN    14 February 2024 at 08:47

Advance income tax collection through TDS/TCS mechanism has been a top target of the Government, along with tracking of the flow of income on goods or services. Over the years we have witnessed the TDS/TCS mechanism getting wider and more stringent



Understanding the Impact of E-Way Bill Timing: No GST Penalty Amidst Detention and Seizure of Goods

  VIVEK JALAN    12 February 2024 at 08:48

In this backdrop we are discussing, E-Way bill detention cases which are being handled by Industry as well as by consultants on a regular basis.



Excess stock found during survey - Business income or undisclosed investments

  VIVEK JALAN    10 February 2024 at 14:10

Whoever makes an assertion, must substantiate it. But whoever requires substantiation must also accept it or prove otherwise! In case an assessee explains the source of the investment in excess stock in his statement that the same was undisclosed income of the assessee from its business



SCNs for FY 17-18 and 18-19 remain valid; Issuance allowed u/s 74

  VIVEK JALAN    08 February 2024 at 14:01

SCNs for FY 17-18 and 18-19 are still not time-barred. All SCNs can be issued u/s 74



Decoding Natural Justice in GST Cases

  VIVEK JALAN    07 February 2024 at 08:40

Section 75 of The CGST Act 2017 is a Code in Itself for invocation of Natural Justice in GST Cases



No Interest under GST on delayed filing of GSTR-3B

  VIVEK JALAN    06 February 2024 at 07:55

While Section 50 of The CGST Act was retrospectively amended to provide that there would be no interest liability on delayed filing of GSTR-3B to the extent of balance in The Electronic Credit Ledger