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Synopsis of Changes in Income Tax Form For AY 2019-20

The income-tax department has notified new income-tax return (ITR) forms for assessment year (AY) 2019-20. A synopsis of relevant changes have been presented herewith: S.No. ITR Form Relevant Change 1 ITR 2, 3 If the taxpayer is a director in…

adminApril 29, 2019June 12, 2019 Direct tax No Comments
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Can an inspecting authority change the declaration made by consignor/ consignee/ transporter regarding the details of goods covered by e-way bill?

For movement of goods across India, GST law provides a mechanism for generation of e-way bill (EWB) number electronically. E-way bill is a document/number to be carried by the person-in-charge of conveyance. The provisions related to the generation and non-…

adminApril 26, 2019June 12, 2019 GST services No Comments
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Form 15CA and 15CB

A huge portion of economy is dependent on import and export businesses. For making payments outside India compliances of certain governmental authorities like RBI, FEMA, Income Tax Department etc need to be ensured.One of such compliance of is submitting the…

adminApril 25, 2019June 12, 2019 Compliance No Comments
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Shelter of section 142 (3) cannot be taken to prevent lapse of CENVAT

Earlier under the era of Excise Duty & Service Tax, taxes paid on inward supply of goods & services were considered as CENVAT credit. GST consolidated both the above stated taxes into one. As such, transition provisions under GST Act,2017…

adminApril 22, 2019June 12, 2019 GST services No Comments
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