Taxability of Gifts Received From Persons other than Relatives | Section 56(2)(X)
Under Section 56(2)(x) Gifts from persons other than those covered in the definition of relatives are taxable under the Head...
Month: May 2021
Generation of GSTR-2B for April 2021
Generation of GSTR-2B for April 2021 17/05/2021 Rule-60(7) of CGST Rules-2017 prescribes for generation of auto-drafted statement containing the details...
One Person Company
A new concept has been introduced in the Company’s Act 2013, about the One Person Company (OPC). In a Private Company,...
Carry Forward and Set Off of Losses with FAQs
Article covers Income Tax Act provisions related to Carry Forward and Set Off of Losses with Frequently asked Question and...
Auditor of A Nidhi Company
As per the provisions of the section 406(1) of the Companies Act, 2013, ‘Nidhi Company’ means a ‘company which has been incorporated...
Practicing advocates exempted from service tax/GST, should not have to face harassment from GST Department
The Hon’ble Orissa High Court in Devi Prasad Tripathy v. the Principal Commissioner CGST and Central Excise quashed the notice demanding...
GST: ITC for packing materials consumed in packing of Exempted/Nil rated/Zero rated & Non GST supplies
GST: Input Tax Credit (ITC) for packing materials consumed in packing of Exempted/Nil rated/Zero rated & Non GST supplies; Under...
GST on Sale and Lease back transaction
Nowadays, the Business houses are entering into sale and lease back transaction of capital assets in order to meet the...
Relaxation to normal taxpayers in filing of monthly return in Form GSTR-3B
Waiver of interest and late fee to normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers, for...
Extension in dates of various GST Compliances for GST Taxpayers
Extension in dates of various GST Compliances for GST Taxpayers Government has extended the dates of various compliances by Taxpayers...