Articles by CA.Sangam Aggarwal

Letter of Undertaking (LUT) and its benefits under GST

CA.Sangam Aggarwal 24 January 2024 at 08:46

LUT application is required to be completed before 31st March of starting of the financial year or before supply for Exports and SEZ for example for FY 2024-25 need to file before 31st March, 2024.

Condonation of Delay in Filing ITR

CA.Sangam Aggarwal 18 January 2024 at 08:53

As we know that every assessee or taxpayer has to file their Income Tax Return within time prescribed i.e. 31st July/31st October under section 139(1)/139(4) of Income Tax Act, 1961.

Section 43B(h) of Income Tax Act related to MSME (Small & Micro) - Very Important Amendment

CA.Sangam Aggarwal 17 January 2024 at 08:57

As per the Amendment made by the Finance Act, 2023 clause (h) shall be inserted after clause (g) of section 43B which says that if assessee makes payment to micro or small enterprises beyond the limit specified in section 15 of the MSME Act, 2006

Clarity on TDS Refund Process: Form 71 Addresses Absence in Form 26AS for Income Booking

CA.Sangam Aggarwal 13 January 2024 at 14:30

Form 71 u/s 155(20) of IT Act, 1961 TDS refund in case not appearing in Form 26AS in the year of Income booking

All about ITR-U i.e. Last chance to file ITR

CA.Sangam Aggarwal 11 January 2024 at 13:29

Taxpayers who had missed filing their ITR and in some cases taxpayer discover some omissions or mistakes in their ITR already filed and want to alter some information but they are unable to do so after 31 Dec of the next year. Income tax department under sections 139(8A) allows those taxpayers to file an updated return in prescribed form i.e ITR-U.

Guide to obtain stay on Outstanding Income Tax Demand

CA.Sangam Aggarwal 28 February 2018 at 11:07

Every Tax practitioner has to face in case of stay of income tax demands in each case where he is not able to meet the AO's expectations (pun intended)!!On

Allotment of Equity Shares as per Companies Act, 2013

CA.Sangam Aggarwal 08 November 2014 at 11:27

The allotment of shares in preferential basis involves the following:PROVISIONSApplicable Sections & Rulesa. Sec.62(1)(c);b. Section 42; c. Rule 14 of Companies (Prospectus & Allotment of Securities) Rules