There are some amendments in Direct Taxation regarding Income tax return for F.Y. 2018-19, so we tried to present summarize details regarding the same. Refer the below attachment for more details.
On May 7,2019 vide F.No.354/32/2019-Tax Research Unit of CBIC has issued FAQ’s answering queries relating to real estate sector under GST. with the help of examples,it has been clarified what rate a builder or developer must opt for and when shall liability to pay GST arise.
Blocked credit under GST means the supply of goods and services on which the availment of Input Tax credit has been restricted by the relevant provisions of law.
In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:- (1) These rules may be called the Central Goods and Services Tax (Second Amendment) […]
Return forms proposed for the Goods and Service Tax (GST) are set to put an end to one of the widely used methods for tax evasion—claiming rebate for tax that was not paid in the first place. The new forms, set to roll out shortly starting with large businesses, will prevent companies from claiming any […]
May, 31st 2019 RBI/2018-19/190 DBR.AML.BC.No.39/14.01.001/2018-19 Government of India, vide Gazette Notification G.S.R. 108(E) dated February 13, 2019, has notified amendments to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. Further, an Ordinance, “Aadhaar and other Laws (amendment) Ordinance, 2019”, has been notified by the Government amending, inter alia, the Prevention of Money Laundering Act, […]
June, 05th 2019 The Income Tax department on Tuesday extended the deadline for employers to issue Form 16 TDS certificate for Financial Year 2018-19 to its employees by 25 days i.e. till July 10. However, the extension would leave the salaried taxpayers with a limited time-frame of just 20 days to file their income tax […]
The Central Board of Direct Taxes (CBDT) wants religious and charitable trusts that enjoy tax exemption on their income to be more open about their affairs. The apex direct tax policy making body has sought public comments on a set of draft rules that modifies an over four decade old audit report format for these […]
