Articles by Vivek Jalan

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Streamlined Lower TDS Procedure: Online Consumption Statement

Vivek Jalan 10 October 2023 at 14:06

Procedure for Lower TDS u/r 28AA streamlined; Consumption Statement to be available online to deductors

Deemed Rent Calculation for Unsold Flats: The Crucial Role of Municipal Value

Vivek Jalan 28 September 2023 at 09:11

Unsold flats to be considered for deemed rent under Income from House Property from date of CC… but Municipal Value to be considered as Annual Letting Value

Vague SCN may be non-maintainable but can be practically handled better

Vivek Jalan 23 September 2023 at 10:38

GST Cases sometimes remind us of Charlie Chaplin Shows. However, these shows may be better handled by taxpayers at the adjudicating level itself in case they co..

Practical Application of GST on Gaming & Gambling vide Rule 31B & Rule 31C: Explanation with examples

Vivek Jalan 22 September 2023 at 09:10

Rule 31B of The CGST Rules inserted vide Not No 45/2023, provides for determining the Value of supply in case of online gaming including online money gaming

Revenue Vs Capital Expenditure & Depreciation on Capital Expenditure: The argument continues

Vivek Jalan 20 September 2023 at 08:53

By terminating the services of a vendor, an assessee may intend to save the expense that it would have had to incur in the relevant previous year as well as for few more years going ahead. However, it cannot be said that this saving is an enduring benefit or has resulted in creating an asset.

PMLA Act Tightens for Banking & Financial Transactions

Vivek Jalan 18 September 2023 at 10:16

Bank Accountholders undertaking specified transactions to be alert as PMLA Act becomes more stringent for Banking/NBFC/Financial and other Entities

30 Days time for IRN w.e.f 1st Nov 2023: Issues and Pointers

Vivek Jalan 15 September 2023 at 10:07

As the unscrupulous elements find out new ways of gaming the system, so do the GST Authorities keep on tightening the loopholes. The genuine taxpayers have to bear the brunt of these stringent measures

An agreement for loan has to be accepted by AO unless proved fraudulent

Vivek Jalan 12 September 2023 at 09:02

Vide Finance Act, 2012, it was provided that the nature and source of any sum, in the nature of share application money, share capital, share premium or any such amount by whatever name called, credited in the books of a closely held company shall be treated as explained only if the source of funds is also explained in the hands of the shareholder

Guidelines for Implementing the Supreme Court's Ruling in Pr. CIT (Central-3) v/s Abhisar Build well Pvt. Ltd.

Vivek Jalan 02 September 2023 at 09:07

Instruction regarding implementation of the judgment of the Hon’ble Supreme Court in the case of Pr. CIT (Central-3) v/s Abhisar Build well Pvt. Ltd. (Civil Appeal No. 6580 of 2021)

Safe Harbour Rules extended to AY 2023-24

Vivek Jalan 26 August 2023 at 08:53

The Safe Harbour Rules for Transfer Pricing were introduced by the Finance Act, 2009 to reduce the transfer pricing disputes, provide certainty to taxpayers, align safe harbour margins with industry standards, and expand the scope of safe harbour transactions.