There are speculations that the Institute of Chartered Accountants of India (ICAI) is likely to postpone the CA exams to be held in May to June due to the general elections 2019. Reportedly, during the national student convention held in Mumbai on 12.01.2019, it was announced by CA Dheeraj Khandelwal & Vandana D. Nagpal (Director […]
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The Income Tax Appellate Tribunal (ITAT), Jaipur bench has deleted the penalty proceedings against the State bank of India ( SBI ) for not deducting TDS on LTC to its employees on travel outside India. Recently, the Income Tax Tribunal had held that the Leave Travel Concession (LTC) provided to the employees of SBI is […]
The post ITAT deletes Penalty against SBI for not deducting TDS on LTC to Employees on Foreign Travels [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
In a major relief to taxpayers, the Central Government may take a major decision in the upcoming interim budget to increase the exemption limit for income tax to five lakhs from the current 2.5 lakhs. The 2019 Budget will be tabled by Finance Minister Arun Jaitley on February 1. Inputs were sought from various central […]
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The Central Government has re-promulgated the Companies (Amendment) Ordinance, 2019. The Ordinance is to amend the companies law to further improve the ease of doing business as well as ensure better compliance levels. Since the Bill to make amendments to the Companies Act, 2013, is pending in the Rajya Sabha, the ordinance has been re-promulgated. The Lok Sabha […]
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The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the genuineness of the purchases cannot be suspected if the Assessing Officer has not discarded the sales. The assessment against the assessee was re-opened by the Assessing Officer by making an addition of Rs.2,78,55,984/- as bogus purchases. On first appeal, the Commissioner […]
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In a major relief to the businesses, the Government may able them to rectify the GST Returns for the non-technical errors. Recently, the GST Council has directed a committee for IT grievance redressal to quickly draw up a solution that will give relief to the industry. This is in the light of increasing rate of […]
The post Non-Technical Errors of GST Returns can soon be Rectified appeared first on Taxscan | Simplifying Tax Laws.
The Maharashtra Government has re-opened the Migration window for Taxpayers who received Provisional IDs but could not complete the migration process. Earlier, the State GST department has prescribed detailed procedure for facilitating the completion of migration process in respect of taxpayers whose Part A of FORM GST REG-26 was filled, but Part B of the […]
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