He is currently practicing as a Chartered Accountant (FCA) and is handling matters related to GST as well as search & seizure, survey and other matters related to income tax.
He has passed B Com (Hons) from University of Delhi and LL.B. from Campus Law Centre, University of Delhi in year 2003. He has undergone internship under Mr Sanjiv Khanna, Advocate (presently justice at Delhi High Court) from 2001 to 2003. He has court room exposure and worked along with him on matters related to income tax, corpo...
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HANDLING DIRECT AND INDIRECT TAXES, PROJECT FINANCE, AUDIT AND ASSURANCE, BUSINESS ADVISORY , LEGAL COMPLIANCE, ETC
FCA HAVING PASSED DISA, CERTIFICATE COURSE ON FAFP AND CONCURRENT AUDIT OF BANKS BY ICAI
LAWYER HAVING APPEARED IN DELHI HIGH COURT, PATNA HIGH COURT AND VARIOUS TRIBUNALS
The GST Council in the 32nd meeting, held on 10th January, 2019, had taken various key decisions which would have the impact of reducing the compliance burden of small taxpayers and which would bring certainty in various ambiguous matters. Some of these decisions have been made effective from April 1, 2019. In respect of certain controversial matters, the CBIC has issued various clarifications whi......
The facility to upload Revised Return for the returns filed manually (Paper Filed Returns) is now enabled in e-Filing. The taxpayer is required to suffix ‘0’ (Zeros) in case the acknowledgment number of the original paper filed a return is less than 15 digits. Example – Paper Filed Return Acknowledgement Number is – ‘1123456211’, in e-Filed return the taxpayer n......
Central Board of direct taxes has issued a notification/circular on 05th of March 2019 with regard to SOP for the handling of cases related to substantial cash deposit during the demonetization period in which notice under section 142(1) of the Income-tax Act, 1961 has not been compiled. The Income tax department has issued notices to around three lakh persons in this rega......
The 177th meeting of ESI Corporation held on 19/02/2019 under the Chairmanship of Shri. Santosh Gangwarji, Hon'ble Union Minister of Labour and Employment and in the presence of Union Labour Secretary Shri Heeralal Samariya IAS, Director General, ESIC Shri Raj Kumar IAS and Employee and Employer Representatives has taken some landmark decisions for the overall improvement of the ESI Scheme a......
Central Board of Direct Taxes vide notification dated 30 January 2019 has notified Centralised Verification Scheme, 2019. It shall come into force on the date of its publication in the Official Gazette. The Centralised Verification Centre shall be set up for centralised issuance of notice and for processing of information or documents and making available the outcome of the processing to the......
1. *Commencement Certificate* is mandatory now to be obtained within 6 months of Incorporation without which, it can not comment on its business activity or borrow money. 2. The ROC can strike off a company if the address of Regd Office is *bogus* or incomplete/improper address. 3. Conversion of public Ltd to Pvt Ltd matters shifted from NCLT to Regional Directorate. 4. Company cann......
The MINISTRY OF COMMERCE AND INDUSTRY (Department of Industrial Policy and Promotion) has issued a notification in the Gazette on 16th January, 2019 which has been issued in partial modification of the earlier Gazette Notification No. G.S.R. 364(E) dated April 11, 2018, with regard to clause (viib) of sub-section (2) of section 56 of the Income Tax Act. A Startup which is recognised by DIPP......
CBDT vide Notification No. 72/2018 Dt. 23/10/2018 amends Form No. 36- Form of appeal to the Appellate Tribunal. “Form No. 36 [See rule 47(1)] Form of appeal to the Appellate Tribunal In the Income-tax Appellate Tribunal………………………. Appeal No………….of……… ………&h......
Summary of LLP Second Amendment Rules, 2018- to be effective from October 02, 2018 - LLP Form 1 which was earlier used for reservation of Name to be replaced with RUN-LLP web-form for the purpose of reserving the name. - LLP Form 2 which was earlier used for registration/incorporation of LLP shall be replaced by Form FiLLiP (Form for incorporation of LLP) for incorporating LLP. - Reservation of......
Dear Professional Colleagues,As per the provisions of Sub-section 4 of Section 16 of the CGST Act 2017, input tax credit can be claimed on the tax invoices or debit notes issued by the supplier in the previous financial year for supply of goods or services or both has to be claimed by 20th October 2018 i.e. before filing of the monthly return for the month of September 2018 basis of prov......
Dear Professional Colleagues,Central Board of Indirect Taxes and Customs has issued Circular number 64/38/2018-GST dated 14th September 2018 wherein the earlier circulars issued with regard to the procedure for interception of goods in movement, detention, release and confiscation of such goods and conveyances have been modified. Section 68 of the CGST Act read with Rule 138A of the Central......
Central Board of Direct Taxes has issued circular on 11th July 2018 were in the monetary limits for the filing of appeals by the Income-tax department before Income Tax Appellate Tribunal, High Court and Supreme Court has been revised as a measure for reducing litigation. Henceforth, Appeals/ SLPs shall not be filed in cases where the tax effect does not exceed the monetary ......
Dear Professional Colleagues,CBDT has issued circular on 16 August 2018, wherein Clarification has been issued on the immunity provided u/s 270AA of the Income-tax Act, 1961. Section 270AA of the Income-tax Act, 1961 (the Act) inter alia provides that w.e.f. 1st April 2017, the Assessing Officer, on an application made by an assessee, may grant immunity from imposition of penalty under section 27......
The government has appointed a committee to review the offences under the Companies Act, 2013. The committee has submitted its report and made a recommendation towards improvement in corporate compliances. The committee has suggested that in the case of non-maintenance of registered office at the disclose by the company. The government shall take action towards striking off such company under sect......
The Income tax department has issued a draft notification on 31st August 2018 proposing amendments in rule 114 of the income tax rules and Permanent Account Number application forms. It has been proposed that father’s name shall not be mandatory in PAN application forms, where the mother is the single parent, and amendment in PAN application form is proposed. Vide Finance Act 2018, Sec......
07-09-2018- Due date for deposit of tax deducted/collected at the source for August 2018. 11-09-2018- Due date for filing GSTR -1 for August 2018. Applicable for taxpayers with Annual Aggregate turnover More than 1.50 Crore 14-09-2018- Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB in the month of July 2018 15-09-2018- D......
Dear Professional Colleagues,By Indian Govt. in July 2018 a committee was set up, for looking the offences relating to Companies Act, 2013. This committee gives advices for better improvement of corporate compliance. This report has been given to the Central Minister of Corporate Affairs, Shri Arun Jaitley. The committee facilitates advices to Govt. relating to relaxation in business p......
Dear Professional Colleagues,Time has come for the Tax Audits and we as Professionals to provide quality services must keep ourselves updated. Please find here my compilation on the recent changes in Income Tax Audit for Chartered Accountants. Your comments and suggestions are welcome.......
Disclosure requirement under amended section 90 of the Companies Act 2013, sets a deadline on 11th Sep, for all companies to disclose the names of individual to either directly or indirectly hold more than 10 per cent stake in the entity or exercise significant influence or control over its affairs. It will no longer be possible to mask the ultimate beneficial ownership of the company. The new dis......
Dear Professional Colleagues,Some of the characteristics of the GST Registration mechanism are:- 1.Single Pan based registration 2.Single return for SGST/UTGST, CGST & IGST 3.Per state single registration. 4.Online procedure (though after registration physical visits can be made based on risk profile) 5.Separate registration procedure for a non-resident taxable person, casual ......
1st July - GST Regime Starts 15th July onwards - Uploading of Sales / Outward Invoices 20th August - Pay tax and Upload GSTR-3B for July (Self-declaration form) 1st – 5th September - File GSTR-1 for the month of July 6th – 10th September - Download and Reconcile GSTR-2 for the month of July (auto populated from GSTR-1) 16th – 20th September -&n......
Dear Professional Colleagues, The GST common portal would reopen for migration on 25th June 2017. Assessees are required to complete the migration process before 30th September 2017. DG Systems is constantly compiling the provisional Id requests and sending them to GSTN for the creation of Provisional IDs and pursuing with GSTN for resolution of problems faced by registered taxp......