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 creation of Provisional IDs and pursuing with GSTN for issuance of …

The last date of filing the service tax return for the period from 1st April, 2017 to 30 June, 2017 is 15th August, 2017. This has been decided by the government via notification no.18/2017. The above clarification by the government of India is very useful because the whole industry was confused as what is to be …

One-day seminar on Goods & Service Tax Law June 23, 2017 at La Marvella Hotel, South End Circle We, at Balakrishna Consulting, are organising a one-day seminar on GST. We have in the past conducted full day sessions and have recently ventured into conducting webinars. We thank you for the overwhelming interest that you …

The income tax department has extended the due date for filing of Form 61A from May 31st, 2017 to June 30th, 2017.             F.No.279/Misc./M-63/2017-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes       New Delhi, the 31st …

Indirect restriction on claiming Housing Loan Interest on let out property: Section 71 of the Act relates to set-off of loss from one head against income from another. In line with the international best practices it is proposed to insert sub-section (3A) in the said section to provide that set-off …

The thrust of the Government in recent past is on voluntary compliance. Certification of various reports and certificates by a qualified professional has been provided in the Act to ensure that the information furnished by an assessee under the provisions of the Act is correct. Various provisions exist under the …

In view of the non-intrusive information-driven approach for improving tax compliance and effective utilization of information in tax administration, it is important that the returns are filed within the due dates specified in section 139(1). Further, the reduced time limits proposed for making of assessment are also based on pre-requisite …

Existing provisions of section 58 of the Act, specify the amounts which are not deductible in computing the income under the head “Income from other sources” which include certain disallowances made in computation of income under the head “Profits and gains of business or profession”. These disallowances include disallowances such …

The existing provisions of section 153 specify time limit for completion of assessment, reassessment and re-computation of cases mentioned therein. In the effort to minimise human interface and move towards technology, massive computerisation has been carried out in the Department, which has translated into overall enhanced efficiency in the functioning …

The existing provisions of section 155 of the Act provide for procedure for amendment of assessment order in case of certain specified errors. In view of rule 128 of the Income-tax Rules, 1962, which provides a mechanism for claim of foreign tax credit, it is proposed to insert sub-section (14A) …