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taxation


Key Highlights of interim Budget 2019

Interim Budget Highlights - 2019 Direct Tax:- 1. Tax Rebate on total income up to 5,00,000/-(Section 87A). 2. Standard deduction for salaried increased from 40,000 to 50,000. 3. Notional rent not payable on holding up to 2 House properties.<b..

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GST Registration for Professionals

MEANING OF PROFESSIONALS Professionals for the tax purposes in India include Architects, Chartered Accountants, Company Secretaries, Cost Accountants, Doctors, Engineers, Lawyers, Technical Consultants, Interior Decorators, Film Directors, Cameramen, Artists, Singers, Authors, IT Professionals etc. <p style=..

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Serving of notice under various tax laws

In the recent landmark judgement by the Hon'ble Bombay High Court, in the case of SBI Cards &amp; Payments Services Pvt. Ltd. v. Rohidas Jadhav. Facts of the Case: The respondent had been evading service of the Notice under Order XXI Rule 22 o..

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Myths of ULIPs That Keeps Tax Savers from Earning Great Returns While Saving Tax

Unit-Linked Insurance Plans (ULIPs) are a great product offering the dual benefits of insurance and investment. However, there are various myths which are floating around ULIPs, stemming from the misunderstanding about their liquidity, objective, returns and cost. It is the result of these myths that many people stay away from investing in ULIPs. Even taxpayers who fr..

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Authorized economic operator program for exporter and importer

## What is AEO (Authorized Economic Operator?) AEO is facilitation scheme i.e. holder of this certificate is entitled for certain privilege, benefits and exemption on account of import and export, In India, AEO certification is Three-Tier AEO (T1, T2, T3).This three tier certif..

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Complete guide on impact of GST on media & entertainment

Introduction The Indian Media and Entertainment (M&amp;E) industry is a sunrise sector for the economy and is making high growth strides. Proving its resilience to the world, the Indian M&amp;E industry is on the cusp of a strong phase of growth, backed by rising consumer demand and improving advertising revenues. ..

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Why do lawyers need to be brought under the GST compliance ambit?

Introduction The complex nature of India&#39;s GST - which has four tax brackets ranging from a 5% to 28% - is bound to attract thousands of lawsuits in a legal system already grappling with a backlog of more than 24 million cases. Even before the planned 1 July roll out, about 100,000 indirect tax appeals were clo..

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Cabinet approves CGST (Amendment) Bill, 2017

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the promulgation of the Central Goods and Services Tax (Extension to Jammu &amp; Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Central Goods and Services Tax (Amendment) Bill, 2017.&nbsp; The Ordinance has ..

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Cabinet approves IGST (Amendment) Bill, 2017

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the promulgation of the Integrated Goods and Services Tax (Extension to Jammu &amp; Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Integrated Goods and Services Tax (Amendment) Bill, 2017.&nbsp; The Ordinanc..

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An injustice made to Practicing Advocates in GST Act

.style2 { text-align: justify; } .style3 { text-decoration: none; } An injustice made to Practicing Advocates in GST Act -&nbsp; They cannot become a&nbsp; Member&nbsp; of the Appellate Tribunal directly from the Bar. Current provisions on Recruitment of Member..

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GST and its impact on business loans

Goods and Services Tax (GST) is now applicable to all goods and services transactions happening throughout the nation. This tax replaces&nbsp;the multitude&nbsp;of indirect taxes levied on goods, transport, and financial services across the country and states. While it has simplified indirect tax collection for the government and taxpayer, it impacts is yet to be full..

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Whether the advocates are totally outside GST?

There is a common notion that the Advocates are totally out of GST. However, if you analyze the provisions carefully, it can be seen that the statement is not fully true. Some of the services provided by an advocate are taxable under GST. What is exempted in the case of Advocates? <p style="text-align: j..

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Quasi-Judicial Proceedings And The Duty To Act Fairly

A failure to act fairly would be &lsquo;failure to act in accordance with law&rsquo; and failure to make a decision in accordance with law would be contrary to law-applicability of principles of natural justice is intended to act as safeguard against arbitrariness An honest tax-payer should not be subjected to unnecessary harassmen..

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Ease of doing business: Delhi VAT

As we know that every dealer is required to get himself registered under DVAT, if his turnover exceeds taxable quantum i.e. Rs. 20 lakh in current year; or to pay tax, or is registered or required to be registered under Central Sales Tax Act, 1956. D..

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Highlights Of The Benami Transactions (Prohibition) Ammendment Act, 2016

The government strategy now seems clear; it aims at taking strong action against benami property as soon as the demonetisation drive gets over.&nbsp; The Benami Transactions (Prohibition) Amendment Act, 2016, designed to curb black money and passed by parliament in August 2016 &amp; came into effect form 1st Nov. 2016. The new law ..

Posted in articles |   2 comments |   1526 Views




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