Direct Taxation SOP (Standard Operating Procedure) For penalties under Faceless Penalty Scheme-2021 CBDT has prescribed complete Standard Operating Procedures (“SOP”) for penalties under FPS, 2021 vide document issued on 9th August, 2021. Read More » 10/09/2021 No Comments
Direct Taxation Faceless Assessment scheme procedure under Income Tax Act As per Faceless Assessment scheme procedure under Income Tax Act, National e-Assessment Center (NeAC) which shall act as the major managing authority and it will act as a mediator between Assessment Unit, Assessee and other parties. Read More » 04/10/2020 No Comments
Direct Taxation Faceless Assessment & Appeal Scheme|Transparency in Taxation System Faceless assessment is a “big step in reducing Department’s interference from people’s lives” and ensures speedy assessment of cases. Further, another major cause is that the I-T department has been progressively reducing the percentage of cases picked up for scrutiny assessment so as to establish the fact that the department places trust on the taxpayer. Read More » 07/09/2020 No Comments
Clarification On Time Limit To Claim ITC In Respect Of RCM Supplies Received From Unregistered Persons | Circular No. 211/5/2024-GST Dated 26th June, 2024 15/07/2024
Highlights Of 53rd GST Council Meeting | Measures To Facilitate Trade And Related To Procedure 15/07/2024
Time Limit For Claiming ITC is 30th November of Following Year With Effect From 01.07.2017 and Section 16(2) and 16(4) Are Constitutionally Valid 15/07/2024
ITC On Inward Supplies Received From Non-existent And Bogus Firm is Fraud ITC Against the Department and the Public Excheque 15/07/2024
No Penalty Shall Be Imposed For Failure To File Annual Return If The Company Has Filed Return Before Issuance Of Notice 15/07/2024
RoC, Puducherry Imposed Penalty of INR 15 Lacs On Private Company On Delay in Appointment Of Whole Time Company Secretary 15/07/2024