Popular Articles

Best Judgement Assessment - A Thoughtful Analysis!

Leena TheRaja 24 May 2024 at 08:38

Section 144 of the Income Tax Act outlines the procedure for making assessments when a taxpayer fails to fulfill certain obligations, such as submitting returns or complying with notices issued by the Assessing Officer.

Applicability of RBI Provisions of NBFC on LLPs

CA Smita Khurana 30 November 2024 at 08:41

Position of Law - Definition of NBFC as per Section 45 of the RBI Act 1934

Understanding the New IMS (Invoice Management System) on GST Portal

CA Umesh Sharma 19 November 2024 at 08:38

IMS allows recipient taxpayers to take various actions like accept, reject, or keep invoices pending based on the records uploaded by their suppliers in GSTR-1 or IFF. This gives recipients control over their Input Tax Credit (ITC) eligibility before filing GSTR-3B.

Whether Commissioner has Power to Revise Matters Before CIT (Appeals ) - Section 263 & 264

FCS Deepak Pratap Singh 11 October 2021 at 09:35

The tax authority can send an order under Section 154 either of their own volition or based on an incongruity noticed by the Income Tax Department.

Relaxation for the availment of ITC for the FYs 2017-2021

Bimal Jain 01 October 2024 at 13:19

Due to various factors, including financial constraints, lack of knowledge on the part of taxpayers or their accountants/tax consultants, and the cancellation of GST registrations for multiple reasons, etc., registered persons could not file their statutory returns

Relaxation w.r.t conducting of Extra Ordinary General Meetings and Postal Ballots

Affluence Advisory 03 January 2023 at 14:22

MCA vide it's circular dt: April 8,2020 and circular dt: April 13, 2020 had allowed postal ballots to be conducted through a special framework. Conducting of Postal Ballots through this special framework was allowed till December 31, 2022.

Comprehensive Guide to Inter-State and Intra-State Supply

Ishita Ramani 02 May 2024 at 08:35

In the Goods and Services Tax (GST) system, whether a supply is classified as intra-state or inter-state depends on the locations of the supplier and the recipient. This classification determines whether integrated tax or a combination of central and state tax is paid.