A S V S & Associates LLP - Chartered Accountant

30/09/2022

Tax audit date extended.

10/09/2022

21/08/2022

15/08/2022

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02/08/2022

*E invoice limit revise from 1 October 2022*

Now E invoice is mandatory if turnover is more then 10Cr onwards 2017-18 in any financial year.

02/08/2022

28/07/2022

You are inviting notice from Income Tax Department for sure, if your AIS / TIS shows cash deposit of more than 10 lakhs and your tax returns do not justify!

Similarly, any income missed which is in AIS / TIS may invite notice!

Taxpayers Do Not file returns blindly in Hurry!

Team

02/07/2022

We are so happy to share the pictures of our new Bikaner Office space. ✌️✨🧡🎉

Many congratulations to the team and Partner Sir 👍✌️✨

01/02/2022

BUDGET HIGHLIGHTS

Solar capacity building - Rs 19500 Cr PLI Incentive to be given

5-7% biomass pellets to be used by thermal power plants

Capital expenditure stepped up to Rs 7.5 lakh crore in 2022-23

Sovereign Green Bonds to be floated to fund green infra

Foreign Universities to be allowed to be set up in Gift City

RBI to introduce Digital Rupee in next fiscal

Rs 1 lakh crore allocated to States to build capital assets in next fiscal

Total expenditure in next fiscal to be Rs 39.5 lakh crore

Fiscal deficit pegged at 6.4% for next year

FM allows leeway to taxpayers to file updated or revised return within two years

Budget proposes to reduce AMT to 15% for Cooperatives + surcharge reduced to 7%

Tax incentives to be available for Start-ups registered till March 2023

Concessional Corporate tax regime - Date for commencement of manufacturing extended by one more year

Virtual Digital Assets - Capital gains from transfer of such assets to be taxed at 30%; Loss not to be allowed to be set off

Surcharge across board including long-term capital gains reduced

Health & Education Cess not allowable as business expenditure

No set off of any loss to be allowed against undisclosed income detected during Search

GST collections in Jan month soar to Rs 1.41 lakh crore

SEZ reform to be implemented by Sept 2022

Project Imports - Customs concessional regime phased out - 7.5% tax imposed

350 Customs exemption notifications to be expired

Electronics - Duty concessions offered to mobile camera and transformers + Duty reduced to 5% for gems & Jewellery

Duty on chemicals used for petrol refining reduced

Duty exemption for import of steel scrap extended by one more year.

19/01/2022

18/01/2022