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29/12/2022

Attention GST Payers
In the media it was suggested that GST Council has recommended reducing threshold limit of E-invoice upto Rs. 5 Crore, against the present Rs. 10 crore limit for generation of E-invoice.
Hence it is hereby clarified by CBIC that present limit of E-invoice shall continue i.e. aggregate Turnover of Rs. 10 crore, shall continue.

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Here's weekly legal updates in short, for reference.For any queries or assistance please reach out us via DM or visit ou...
26/12/2022

Here's weekly legal updates in short, for reference.

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www.legalmanch.com

Ministry of Corporate Affairs is launching Second set of Company Forms thus it has issued advisory for stakeholders to a...
24/12/2022

Ministry of Corporate Affairs is launching Second set of Company Forms thus it has issued advisory for stakeholders to avoid last minute hassles

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Case - ACIT vs Tupelo Builders (P) Ltd) 2022Citation : 145 Taxmann.com 270 (ITAT Delhi)It was held by Delhi Tribunal tha...
23/12/2022

Case - ACIT vs Tupelo Builders (P) Ltd) 2022
Citation : 145 Taxmann.com 270 (ITAT Delhi)

It was held by Delhi Tribunal that AO merely relied on news clippping. property was purchased as joint owners as per registered sale deed & the same was disclosed by assessee in his books of accounts.
Further it was said that property can be classified as Benami, if the first premise is payment of purchase consideration by another person & not the one on whose name property was held. Since Payment was made by assessee as Joint owner hence the premise clearly fails here.
Second premise is for the classification of transaction as Benami is the Non disclosure of facts or sources of consideration or creation of fictitious ownership which shows real transaction different from apparent transaction. The assesse's relationship was disclosed in his documents & books of accounts, Hence there were no undisclosed transaction or facts. Thus second basic premise also fails here.

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Here's weekly legal updates in short, for reference.For any queries or assistance please reach out us via DM or visit ou...
19/12/2022

Here's weekly legal updates in short, for reference.

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www.legalmanch.com

14/12/2022

Advance Tax installment is due on 15th December..
Don't forget
Don't miss it

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Here's weekly legal updates in short, for reference.For any queries or assistance please reach out us via DM or visit ou...
12/12/2022

Here's weekly legal updates in short, for reference.

For any queries or assistance please reach out us via DM or visit our website
www.legalmanch.com

10/12/2022

GST Reminder:
GSTR-1 is due to be filed by 11th December.

Brief about GSTR-1
Assessee those who are having an annual turnover of Rs.1.5 crores or above are required to file their form GSTR-1 on a monthly basis, on or before the 11th day of the succeeding month.

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Bench of Justices M R Shah and Hima Kohli has instructed Centre to provide data of the registered workers who are migran...
09/12/2022

Bench of Justices M R Shah and Hima Kohli has instructed Centre to provide data of the registered workers who are migrant and unorganized sector workers on Eshram Portal .
Honorable Supreme Court on Tuesday said, this is done to ensure that no one in the country goes to sleep empty stomach, as it is in our culture to feed the needy. Hence Hon'ble Supreme Court has asked Central Government to verify that under National Food Security Act (NFSA), food grains reaches the last man in the country.

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December Month Compliance calendar for GST, Income Tax, PF & ESIFor any queries or assistance please reach out us via DM...
02/12/2022

December Month Compliance calendar for GST, Income Tax, PF & ESI

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Form FC-GPR are mandatorily to be filed Investee Company who has received Foreign Direct Investments.For any queries or ...
30/11/2022

Form FC-GPR are mandatorily to be filed Investee Company who has received Foreign Direct Investments.

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