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Hindu nationalist groups in US got $833,000 in COVID relief fund:- NGO FUnding

The five groups in question are Vishwa Hindu Parishad of America (VHPA), Ekal Vidyalaya Foundation, Infinity Foundation, Sewa International, and the Hindu American Foundation (HAF). All these organizations have ties with the Rashtriya Swayamsevak Sangh (RSS).

VHPA received more than $150,000 under PPP and $21,430 under EIDLA and DAL programs. Its Indian counterpart, VHP was categorized as a religious militant organization by the CIA in 2018.

Although the VHPA claims to be a separate legal entity from the VHP, its website mentions that the organizations share the “same values and ideals”.

Ekal Vidyalaya Foundation obtained a direct pay of $7,000 and a loan of $64,462 under PPP.

The Foundation runs a network of schools for children from Adivasi and rural communities across India, and has been accused of promoting hatred for minorities among children.

Infinity Foundation received $51,872 in US federal funds in the wake of the pandemic, according to SBA data.

This foundation provides grants to universities and researchers to allow the spread of Hindu nationalism in academic spaces.

Sewa International received a sum of $150,621 in COVID relief.

Sewa International organization funds a lot of RSS projects across India. In fact, some old literature suggests that Sewa International’s address was the same as RSS’s headquarters in Delhi.

The Hindu American Foundation received what can be said as the lion’s share of federal funds among the five organizations- a whopping amount of $378,064 in PPP loans and another $10,000 in EIDLA.

 

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Late filing of Income Tax Return (ITR): Here are the consequences

The following are the consequences of delay in filing the return of income by a tax payer:

Losses: Losses other than the loss from house property cannot be carried forward.

Levy of interest under section 234A: The taxpayer is liable to pay simple interest at 1% per month or part of a month for delay in filing the return of income.

Late filing fees: A late filing fees under section 234F is levied for return filed from AY 2018-19 onwards. If return is filed after due date but before December 31st of the assessment year, a late filing fee of 5,000 is charged. If the return is filed later than December 31, a late filing fees of 10,000 is payable. However amount of late filing fees to be paid cannot exceed 1,000, if total income does not exceed 5 lakh.

Lesser benefits: Apart from paying the penalty, a tax payer will also have to let go of certain exemptions and deductions for that year. The exemptions and deductions which will not be available if ITR is filed late are as below:

  • Exemptions under section 10A​, section 10B to the new establishments are not available
  • Deduction under 80-IA, 80-IAB, 80-IB, 80-IC , 80-ID and 80-IE, in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, are not available
  • Deduction under 80IAC, 80IBA, 80JJA, 80JJAA, 80LA, 80P, 80PA, 80QQB and 80RRB are not available

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CBDT to Levy Penalty for not providing Facility to Accept Digital Payments from 1st Feb

The Central Board of Direct Taxes ( CBDT ) to levy a penalty for not providing facility to accept digital payments from February 1st, 2020.

In furtherance to the declared policy objective of the Government to encourage digital economy and move towards a less-cash economy, a new provision namely Section 269SU of the Income Tax Act was inserted vide the Finance ( No. 2) Act 2019, which provides that every person having a business turnover of more than Rs 50 Crore shall mandatorily provide facilities for accepting payments through prescribed electronic modes.

The said electronic modes have been prescribed vide notification no. 105/2019 dated 30.12.2019.

Therefore, with effect from 1st January 2020, the specified person must provide the facilities for accepting digital payments through the prescribed electronic modes. Further, Section 10A of the Payment and Settlement Systems Act 2007, inserted by the Finance Act, provides that no Bank or system provider shall impose any charge on a payer making payment, or a beneficiary receiving payment, through electronic modes prescribed under Section 269SU of the Income Tax Act.

Consequently, any charge including the MDR (Merchant Discount Rate) shall not be applicable on or after 01 ” January 2020 on payment made through prescribed electronic modes.

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How to check income tax refund status online

There are 2 ways to check income tax refund status online.

These are as follows:

a) On the income tax e-filing website

b) On the  NSDL website 

 

To check the status of your tax refund, One are required to take the following steps:

1. Visit website: www.incometaxindiaefiling.gov.in

2. Login to  account by entering details: User Name (PAN) & password

3. Click on ‘View Returns/Forms’

4. Select ‘Income Tax Returns’ from menu and choose the relevant assessment year.  

5. Click on acknowledgement number (hyperlink)

6. A pop-up will appear on screen that will show the timeline of filing of returns such as when your Income Tax Return was filed and verified, date of completion of processing and date of issue of refund etc. 

How to check income tax refund status

7. One can see details like assessment year, status, reason for failure, if any, and mode of payment.

How to check income tax refund status

 

On the NSDL website Alternatively,

One can check the status of the income tax refund on the NSDL website as well.

Refund status is available on the website 10-15 days after the refund has been sent by the department to SBI.

steps for checking status of your income tax refund here:

1. Visit the website: https://tin.tin.nsdl.com/oltas/refundstatuslogin.html

2. Enter your PAN details

3. Select the relevant assessment year for income tax refund

How to check income tax refund status

 

4. Enter the Text displayed in captcha code and click on submit. Depending on the status of refund, a message will be displayed on screen like this.

How to check income tax refund status

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18% GST on the entire maintenance charge if Maintenance charges exceed Rs.7500

If Flat owner pay more than 7,500 per month as maintenance charges for flat, then they should pay more GST now than before.

As per Advance ruling authority circular, It has been held that if Maintenance charges  collected by a registered housing society or a resident welfare association (RWA) exceeds 7,500 per month per flat, then GST of 18 per cent is applicable on the entire amount and not on the difference amount.

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How to Apply to ROC for removing company name from Register of Companies

E-Form STK-2 is required to be filed for applying to ROC for removing company name from Register of Companies.

 

Followings documents  are to be attached with the E-Form STK 3

1. An Indemnity bond signed by every director of the Company in the Form STK 3 – (stamp paper of Rs 200/- duly notarised).

2. A statement of accounts containing assets and liabilities of the company made not older than 30 days from the date of application and also to be certified by a Chartered Accountant.

3. An affidavit to be made by each Director of the Company in Form STK 4 (stamp paper of Rs 100/- duly notarised)

4. A copy of the special resolution is to be passed at the General Meeting of the Company which is duly certified by each of the directors of the company or the consent of 75% of the members of the company in terms of paid up share capital as on the date of application is obtained.

5. A statement regarding pending litigations/dispute, if any.

6. Details of Each Directors

7. Copy of PAN card

8. Copy of Voters Identity Card/ Passport/ Driving License (any 1 out of these)

 

Fees

Government Fees: Form SKT-2 along with prescribed fee of Rs. 10,000/-

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TDS on income by way of interest from an Indian Company or a business trust- Section 194LC of Income Tax Act 1963

Applicability of Section 194LC –

The Indian Company or a business trust paying interest income to a non-resident, not being a company, or to a foreign company is liable to deduct TDS.

Interest is related with money borrowed by the Indian Company or the business trust in foreign currency from a source outside India by way of issue of rupee denominated bond before 1stJuly 2020.

Time of TDS deduction –

The Deductor is liable to deduct TDS within earlier of the below mentioned dates –

  • At the time of payment thereof in cheque or cash or draft or any other mode of payment; or
  • At the time of credit of interest income to the account of the payee.

 

Rate of deduction of TDS –

The Deductor is liable to deduct TDS @ 5% on gross Interest. 

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Compliance Calender of GST under Goods & Services Tax Act, (GST) 2017

Applicable Laws/Acts Due Dates Compliance Particulars Forms/  (Filing mode)
GST, Act, 2017 31.08.2019 Form GSTR-7 (Period: From October 2018 to July 2019)  TDS Deductor) GSTR-7
GST, Act, 2017 10.08.2019 Form GSTR-8 TCS Collector (for the month of July, 2019) GSTR – 8
GST, Act, 2017 11.08.2019 Return of outward supplies of taxable goods and/or services for the Month of July 2019 (for Assesses having turnover exceeding 1.5 Cr.) Monthly Return. GSTR – 1
GST, Act, 2017 13.08.2019 Due date for Furnishing return of July 2019 by Input Service Distributors (ISD) GSTR – 6
GST, Act, 2017 Payment of tax shall be made by 20th of the month succeeding the month to which the liability pertains. Payment of self-assessed tax PMT-08
GST, Act, 2017 18 months after end of the quarter for which refund is to be claimed Application for Refund RFD-10
GST, Act, 2017 20.08.2019 Summary of outward taxable supplies and tax payable by Non-Resident taxable person & OIDAR respectively.(for the month of July, 2019) GSTR-5 & GSTR – 5A
GST, Act, 2017 20.08.2019 Simple GSTR return for the month of July, 2019 GSTR – 3B
GST, Act, 2017 31.07.2019 Registered person having aggregate turnover  up to  1.5 crore in preceding /current financial year(Quarterly Apr 2019 -June 2019) GSTR -1
GST, Act, 2017 31.08.2019 Annual Returns for FY 2017-18 GSTR-9, GSTR-9A & GSTR-9C
GST, Act, 2017 31.08.2019 statement containing the details of payment of self-assessed tax for the quarter April, 2019 to June, 2019, or part thereof GST CMP-08

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Compliance calender of August 2019 under Income Tax act, 1961

Applicable Laws / Acts Due Dates Compliance Particulars Forms / (Filing mode)
Income Tax Act, 1961 07.08.2019 Due date for deposit of Tax deducted/collected for the month of July, 2019.However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan TDS & TCS
Income Tax Act, 1961 07.08.2019 Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of June, 2019 TDS Certificate (u/s 194-IA)
Income Tax Act, 1961 07.08.2019 Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of June, 2019 TDS Certificate (u/s 194-IB)
Income Tax Act, 1961 15.08.2019 Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of July, 2019 has been paid without the production of a challan Form 24G
Income Tax Act, 1961 15.08.2019 Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of July, 2019 Form no. 3BB
Income Tax Act, 1961 15.08.2019 ​Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending June 30, 2019 Quarterly TDS certificate
Income Tax Act, 1961 30.08.2019 Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA for the month of July, 2019 Statement for tax deducted u/s 194-IA
Income Tax Act, 1961 30.08.2019 Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of July, 2019 Statement for tax deducted u/s 194-IB
 Income Tax Act, 1961  31.08.2019 Due date for filing Income Tax Return (ITR) filing for AY 2019-20 has been extended to 31.08.2019 ITR 

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Key Highlights of 36th GST Council Meeting

Key Highlights of 36th GST Council Meeting

 

Image result for GST on electric vehicles

 

A. GST rate related changes on supply of goods and services

(i) The GST rate on all electric vehicles be reduced from 12% to 5%.

(ii) The GST rate on charger or charging stations for Electric vehicles be reduced from 18% to 5%.

(iii) Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities be exempted from GST.

(iv) These changes shall become effective from 1st August, 2019.

 

 

B. Changes in GST law :

(i) Last date for filing of intimation, in FORM GST CMP-02, for availing the option of payment of tax under notification No. 2/2019-Central Tax (Rate) dated 07.03.2019 (by exclusive supplier of services), to be extended from 31.07.2019 to 30.09.2019.

(ii) The last date for furnishing statement containing the details of the self-assessed tax in FORM GST CMP-08 for the quarter April, 2019 to June, 2019 (by taxpayers under composition scheme), to be extended from 31.07.2019 to 31.08.2019.

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