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SCN Reply - Response to Notice under Section 271A of the Income Tax Act, 1961.
Response to Notice under Section 271A of the Income Tax Act, 1961 Subject: Response to Notice under Section 271A of the Income Tax Act, 1961Dear Sir/Madam,This is in response to the notice dated [DD/M...
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EPFO introduces Auto claim settlement for Education, marriage & housing
The Employee Provident Fund Organization (EPFO) has taken significant strides in enhancing the ease of living for its millions of members by introducing innovative measures to expedite claim settlemen...
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Real-Time Feedback Monitoring in Annual Information Statement introduced
The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has introduced a new feature in the Annual Information Statement (AIS) accessible via the compliance portal on the Income Tax...
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Discussion paper on Strengthening process of issuance of record of default by Information Utility
The Insolvency and Bankruptcy Code, 2016 (IBC) revolutionized India’s insolvency landscape. However, the process heavily relies on the accuracy and timeliness of information provided by Information Ut...
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Format of Annual Secretarial Compliance Report
The Annual Secretarial Compliance Report is a crucial document for listed entities, ensuring adherence to regulatory provisions. This article delves into its format, requirements, and detailed analysi...
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SEBI Consultation Paper: Easing Non-Convertible Securities Business
The Department of Debt and Hybrid Securities presents a consultation paper aimed at streamlining non-convertible securities (NCS) regulations to foster an environment conducive to business. 1. Proposa...
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Direct Payout to Client Demat: Enhancing Efficiency & Reducing Risk | SEBI Draft
The Securities and Exchange Board of India (SEBI) has recently proposed a draft circular aimed at enhancing operational efficiency and reducing risk in the handling of securities. This draft focuses o...
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SEBI Consultation paper: Ease of Doing Business for REITs & InvITs
The Securities and Exchange Board of India (SEBI) has released a consultation paper aimed at enhancing the Ease of Doing Business (EoDB) for Real Estate Investment Trusts (REITs) and Infrastructure In...
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ICMAI Advisory: Unit of Measure & Cost Audit Report Submission
The Institute of Cost Accountants of India (ICMAI), a statutory body established under an Act of Parliament, plays a crucial role in regulating cost accountancy practices. Recently, ICMAI issued an ad...
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Guidance Note on Inventory Valuation under Income Tax Act 1961
THE INSTITUTE OF COST ACCOUNTANTS OF INDIA I am happy to present the first edition of Guidance Note on Inventory Valuation under the Income Tax Act, 1961 to the members on behalf of the Cost Accountin...
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जीएसटी अपीलीय न्यायाधिकरण (GSTAT) में अध्यक्ष नियुक्त किया गया
केंद्र सरकार द्वारा सेवानिवृत्त न्यायाधीश संजय कुमार मिश्रा को वस्तु एवं सेवा कर अपीलीय न्यायाधिकरण (जीएसटीएटी) का अध्यक्ष नियुक्त किया गया है। इस कदम का उद्देश्य व्यवसायों से संबंधित विवादों के समाधा...
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Notification: Income Tax Exemption for Tamil Nadu Electricity Regulatory Commission
The Ministry of Finance, through Notification No. 42/2024, has enacted provisions under section 10(46) of the Income Tax Act, 1961, pertaining to the Tamil Nadu Electricity Regulatory Commission. This...
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ICAI Introduces Self-Paced Online Modules for CA Final Course: All You Need to Know
The Institute of Chartered Accountants of India (ICAI) has introduced Self-Paced Online Modules (SPOM) to enhance the learning experience of students in alignment with the New Scheme of Education and...
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Input Tax Credit Insights: Special Eligibility and Procedures in GST
Editorial Note:Navigating Input Tax Credit (ITC) claims under special circumstances requires careful consideration of the provisions outlined in Section 18 of the GST Act. The Act provides specific en...
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Can DRC-01 Be Issued for Claim of Interest Only?
Editorial Note:The process of interest recovery under GST has significant implications for taxpayers, particularly when show cause notices are issued for delayed filings or payment discrepancies. The...
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Managing Input Tax Credit (ITC) Transitions and Reversals in GST
Editorial Note:Navigating the complexities of Input Tax Credit (ITC) transitions and reversals within the GST framework requires a clear understanding of statutory provisions. This article provides pr...
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Navigating the Challenges of GST Refunds: An Examination of Key Issues and Solutions
IntroductionThe Goods and Services Tax (GST) system aims to simplify the taxation process in India. However, complexities in the GST refund mechanism often create challenges for businesses. This artic...
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Understanding Credit and Debit Notes in the Context of Section 16(4)
IntroductionCredit and debit notes play a crucial role in managing tax adjustments under the Goods and Services Tax (GST) regime. They address discrepancies in issued invoices and ensure accurate tax...
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Power to Arrest Under Section 69 of the GST Act.
Power to Arrest Under Section 69 of the GST ActIntroductionThe Goods and Services Tax (GST) Act includes provisions for arresting individuals suspected of committing specific offences. Although the te...
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Understanding GST Exemptions for Pure Labour Services
Overview of GSTThe Goods and Services Tax (GST) is a comprehensive, multi-tiered, destination-based tax imposed on the supply of goods and services in India. Despite its broad scope, specific goods an...