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CA SRIYANS

International Taxation: Relief From Double Taxation

When the same income of yours is taxed more than once, it creates double taxation. This can be done when a person is taxed in more than one country for the same income which he had earned, leads to double taxation. Countries have started introducing Double Taxation Avoidance Agreements (DTAA) with other countries to resolve the issues of double taxation so as to ease out the tax burden of their… Read More »International Taxation: Relief From Double Taxation

Can We File Appeal Against The Order Passed by UP RERA

The Real Estate Appellate Tribunal which also known as REAT has been set up to hear appeals against orders passed by the Real Estate Regulatory (Authority). Under the Real Estate Regulation Act, 2016- Section 43, the REAT can examine the legality of orders passed by the RERA and decide whether to uphold or overturn them. What is the time-limit to file an appeal against a RERA Order? An appeal challenging… Read More »Can We File Appeal Against The Order Passed by UP RERA

Section 35D Amortization Of Preliminary Expenditure

Amortization of preliminary expenditure is allowed as deduction under the Income Tax Act- section 35D. Section 35D of Income Tax Act provides for Amortization of preliminary expenses. According to the Section 35D, any capital expenditure did before the commencement of operation of specified business then such expenditure is allowable as a deduction under the income tax in five equal annual instalments subject to the fulfilment of different conditions given under… Read More »Section 35D Amortization Of Preliminary Expenditure

Which Points To Kept in Mind While Drafting Builder Buyer Agreement

The builder-buyer agreement is an essential legal document for home buyers. It is termed as a contract which contains all the terms and conditions which have to be complied by both the buyer and the builder. Buyers need to read this document carefully as the T&C mentioned will help to ensure that your rights are protected and you get what you have paid for. This agreement can empower a home… Read More »Which Points To Kept in Mind While Drafting Builder Buyer Agreement

Transitions in GST Rules Which are Applicable From 01st January 2021

In light of the GST investigation wing recently find few cases of fake invoices and fake firms, which also resulted in the arrest of some individuals CBIC has issued few notifications amending the CGST Act, 2017 and the CGST Rules, 2017 which are applicable with effect from 1st January 2021. With the increase in the number of fraudulent cases, fake invoicing by many concerns, and creation of dummy firms the… Read More »Transitions in GST Rules Which are Applicable From 01st January 2021

RoDTEP Applicable With Effect From 01 January 2021

Remission of Duties and Taxes on Exported Products (RoDTEP) is a new scheme to replace the existing scheme called MEIS scheme for exports of goods from India, which targets to reimburse the taxes & duties incurred by exporters used for transportation, which are not getting exempted/refunded under any other existing scheme. The rebate would be claimed as a percentage of the FOB (Freight On Board) value of exports. As we… Read More »RoDTEP Applicable With Effect From 01 January 2021

Tax Evasion Through Fake Invoices & Actions by Government

The fake invoices are those invoices where the GST invoices are raised by an entity without payment of GST or actual supply of goods/services. Fake invoices are raised for these purposes: Claiming undue excess ITC For showing excess turnover Without any actual supply, transfer of credit from one registration to another Other reasons. These are some ways in which such fake invoices could be misused in the GST Regime: I.… Read More »Tax Evasion Through Fake Invoices & Actions by Government

Whether GST Liability Can Be Paid In Monthly Installments?

Every registered person is needed to compute his/her tax liability on a monthly basis by setting off the ITC (Input Tax Credit) against the Outward Tax Liability. If there is any tax liability then the same is required to be paid to the government. These are 3 ledgers that is required to be maintained by every tax payer as prescribed by the government – Electronic Tax Liability Ledger Electronic Cash… Read More »Whether GST Liability Can Be Paid In Monthly Installments?

15 Important Points Of GST In Income Tax Audit To Be Taken Care Off

After Corona pandemic relief, income-tax audit season is approaching now. Now, let’s understand what are the important points of GST which are to be remembered while doing Tax Audit under Income Tax Act, 1961? These are few important points of GST which shall be checked while doing Income Tax Audit and filing 3CD FORM: Clause 4: The GST no. of the assessee should be reported in clause 4 of the… Read More »15 Important Points Of GST In Income Tax Audit To Be Taken Care Off

How to Opt Quarterly Return & Monthly Payments (QRMP)

QRMP scheme is also known as Quarterly Returns with Monthly Payment Scheme is for eligible taxpayers to file their Form GSTR-1 and Form GSTR-3B returns on quarterly basis, while paying their due tax on monthly basis by challan. Who are eligible for the QRMP scheme? All taxpayers whose aggregate annual turnover (PAN based) is up to INR 5 Crore in the current FY (financial year) and the preceding financial year… Read More »How to Opt Quarterly Return & Monthly Payments (QRMP)