A penalty charge registration and compliance registration should be authenticated by the Director or Secretary of the company.Read More
The CBDT has notified new income-tax return forms (ITR forms) for the assessment year 2018-19. It has prescribed simplified version of ITR-1 with fewer columns. A new column has been inserted in ITR Forms to report cash deposits in banks above 2 lakhs during the demonetisation period, i.e., from November 9, 2016 to December 30, 2016. CBDT had prescribed new 'Form ITR 4 Sugam' for taxpayers opting for presumptive taxation scheme. A new column has been prescribed to mention digital receipts as the rate of presumptive income is 6% for such receipts.Read More
The article is in relation to the recent amendment in the tax audit report i.e Form 3CD vide Notification 33/ 2018 dated 20 July 2018. The said Notification inter alia requires the Assessee to report the breakup of expenditure into GST and non GST transactions.