Subhash Chandra Gupta

Uttar Pradesh Real Estate Regulatory Authority on Twitter “रेरा की धारा 11(1) के अनुसार प्रोमोटर के लिए उ.प्र. रेरा की वेबसाइट पर परियोजना की 'तिमाही प्रगति रिपोर्ट' (QPR) दाखिल करन....

https://twitter.com/UPRERAofficial/status/1537409147087749120?t=ELFb4JthnpFmDAh6wpOReQ&s=08

Uttar Pradesh Real Estate Regulatory Authority on Twitter “यू.पी. रेरा सिविल प्रक्रिया संहिता (Civil Procedure Code) में निहित शक्तियों के अन्तर्गत एडजुकेटिंग ऑफिसर्स के जरिये पारित आद.....

31.03.2022
Revised /Belated return AY 2021-22
All assesses must file a belated/revised return of income for the assessment year 2021-22.

अब आर पार की लड़ाई के लिए तैयार है चार्टेर्ड अकाउंटेंट्स | क्या है रुपरेखा?#theindianpulse #gurugram आज चौथे दिन भी जारी है चार्टेर्ड अकाउंटेंट्स का धरना प्रदर्शनक्या कोर्ट से दोनो CAs को आज जमानत मिल जाएगीजानिए the indian pu...

Uttar Pradesh Real Estate Regulatory Authority on Twitter “यूपी रेरा एनसीआर कन्सीलिएशन फोरम की मध्यस्थता से घर खरीदार को 11 वर्ष के बाद पजेशन का साथ-साथ पजेशन में विलम्ब के ल.....

https://www.facebook.com/656130054524751/posts/1936666766471067/

SC orders Nexgen Infracon to refund buyers' money with 9% interest - ET RealEstate The apex court also modified the direction restraining the builder from deducting the tax at source. The amount is to be refunded within one month fro..

Tamil Nadu RERA raps Sri Lakshmi Builders for one-sided agreement - ET RealEstate ‘Brindhavanam’ at RE Nagar in Kavanoor near Kundrathur is developed by Sri Lakshmi Builders Pvt. Ltd. While the agreements were entered into in 20..

Haryana RERA bans sale of 50,000 unregistered units
The Haryana Real Estate Regulatory Authority (HRERA) has barred around 50,000 properties and 210 projects in Gurugram from promoting, selling and booking commercial and residential properties, for alleged non-registration with the regulatory author..

Read more at:
https://www.constructionworld.in/latest-construction-news/real-estate-news/haryana-rera-bans-sale-of-50000-unregistered-units-/25103

Haryana RERA bans sale of 50,000 unregistered units Unregistered projects have been banned

जागो ग्राहक जागो

What Happens if The Builder is not Registered with RERA? As a buyer if you aware that a project should be registered then you can move a plain application to that effect before the RERA Authority and they shall take a suomoto cognizance over the same.

IF your project was incomplete on 1.5.2017 and the builder didn't register you may approach RERA for its registration by the Promoter.

If the Promoter does not comply with the orders of RERA he will have to pay a penalty of 10% of the estimated cost of the Project and face imprisonment up to 3 years.

Every Real Estate Project which was incomplete on 01.05.2017 was compulsorily required to be registered, within 3 months, under RERA. the penalty as per RERA Provisions is as below :

For Non-registration of Project up to 10% of the cost of the project with imprisonment up to 3 years or both.

https://youtu.be/85B9M7DKsho

इस Real Estate के घोटाले का पर्दा फाश | Dr Vivek Bindra In this Video Dr Vivek Bindra talks about scam that happens in Real Estate...He Further explains that what things should be kept in mind while purchasing any...

In real estate the consumer means THE HOME BUYERS

Nature of Real Estate(Regulation & Development) Act 2016

The Nature of this statute is to protect the interest of Home Buyers of Real Estate which is Clear in its PREAMBLE .The Preamble Speaks as below

This is an Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure the sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector .

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Subhash Chandra Gupta updated their phone number.

Extension of due date of furnishing of Income Tax Returns and Audit Reports
Posted On: 24 OCT 2020 2:27PM by PIB Delhi
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (‘the Ordinance’) on 31st March, 2020 which, inter alia, extended various time limits. The Ordinance has since been replaced by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act.

The Government issued a Notification on 24thJune, 2020 under the Ordinance which, inter alia, extended the due date for all Income Tax Returns for the FY 2019-20 (AY 2020-21) to 30th November, 2020. Hence, the returns of income which were required to be filed by 31st July, 2020 and 31st October, 2020 are required to be filed by 30th November, 2020. Consequently, the date for furnishing various audit reports including tax audit report under the Income-tax Act, 1961 (the Act) has also been extended to 31st October, 2020.

In order to provide more time to taxpayers for furnishing of Income Tax Returns, it has been decided to further extend the due date for furnishing of Income-Tax Returns as under:

(A) The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (i.e. before the extension by the said notification) as per the Act is 31st October, 2020] has been extended to 31st January, 2021.

(B) The due date for furnishing of Income Tax Returns for the taxpayers who are required to furnish report in respect of international/specified domestic transactions [for whom the due date (i.e. before the extension by the said notification) as per the Act is 30th November, 2020] has been extended to 31st January, 2021.

(C) The due date for furnishing of Income Tax Returns for the other taxpayers [for whom the due date (i.e. before the extension by the said notification) as per the Act was 31st July, 2020] has been extended to 31st December, 2020.



Consequently, the date for furnishing of various audit reports under the Act including tax audit report and report in respect of international/specified domestic transaction has also been extended to 31st December, 2020.

Further, in order to provide relief to small and middle class taxpayers, the said notification dated 24th June, 2020 had also extended the due date for payment of self-assessment tax for the taxpayers whose self-assessment tax liability is up to Rs. 1 lakh. Accordingly, the due date for payment of self-assessment tax for the taxpayers who are not required to get their accounts audited was extended from 31st July, 2020 to 30th November, 2020 and for the auditable cases, this due date was extended from 31st October, 2020 to 30th November, 2020.

In order to provide relief for the second time to small and middle class taxpayers in the matter of payment of self-assessment tax, the due date for payment of self-assessment tax date is hereby again being extended. Accordingly, the due date for payment of self-assessment tax for taxpayers whose self-assessment tax liability is up to Rs. 1 lakh has been extended to 31st January, 2021 for the taxpayers mentioned in para 3(A) and para 3(B) and to 31st December, 2020 for the taxpayers mentioned in para 3(C).

The necessary notification in this regard shall be issued in due course.

42nd GST Council meeting Updates dated 012020

-Due date of furnishing quarterly GSTR-1 revised to 13th of the month succeeding the quarter w.e.f. 01.01.2021

-Auto-population of GSTR-3B liability from own GSTR-1 w.e.f. 01.01.2021

-Auto-population of input tax credit from suppliers’ GSTR-1 through the newly developed facility in GSTR-2B for monthly filers w.e.f. 01.01.2021
and for quarterly filers w.e.f. 01.04.2021

-GSTR-1 mandatorily required to be filed before GSTR-3B w.e.f. 01.04.2021

-The present GSTR-1/3B return filing system to be extended till 31.03.2021.

-Smalltaxpayers having aggregate annual turnover < Rs. 5 cr., allowing filing of returns on a quarterly basis with monthlypayments w.e.f. 01.01.2021.

-First 2 months of the quarter, have an option to pay 35% of
the net cash tax liability of the last quarter using an auto generated challan*.

-GSTR-1 w.e.f. 01.04.2021 HSN/SAC at 6 digits for AT above Rs. 5 crores;HSN/SAC at 4 digits for B2B, AT upto Rs. 5 crores.

- Furnishing of Nil CMP-08 through SMS

-Refund to be paid/disbursed* in a validated *bank account linked with the PAN& Aadhaar of the registrant w.e.f 01.01.2021.

*Companies Fresh Start Scheme, 2020 extended upto December-31-2020:-*

The Ministry of Corporate Affairs *had* introduced a New Scheme to enable all Companies to make good all their previous defaults and delays with respect to filings of various eForms and Annual Returns WITHOUT PAYMENT OF ANY ADDITIONAL FEE. This Scheme was expiring on 30.09.2020. Now the benefits under this Scheme has been EXTENDED till December-31-2020.

Best Regards

ITR Filing 2020 Last Date: The last date for Income Tax Return (ITR) filing for AY 2020-21 has been extended to November 30, 2020. It will be applicable for filing of ITR for the financial year 2019-20. ... The due date for the income tax return for the FY 2019-20 (AY 2020-21) has now been extended to November 30, 2020.

Housing ministry advises states to reduce stamp duty on property transactions - ET RealEstate The secretary said an investment of Rs 9,300 crore has been approved from the Rs 25,000-crore stress fund, which was set up to complete the stalled ho..

Subhash Chandra Gupta updated their business hours.

"Income Tax Policy Changes" - Announced by CBDT:

1. Income Tax New disclosures asked in the new ITR forms 1to7 are: 1. House ownership: Individual taxpayers who are joint owners of house property cannot file ITR 1 or ITR4 .

2. Passport: One needs to disclose the Passport number if held by the taxpayer. This is to be furnished both in ITR 1-Sahaj and ITR 4-Sugam. Hopefully, it will be made mandatory in other ITR Forms as and when they are notified.

3. Cash deposit: For those filing ITR 4-Sugam, it has been made compulsory to declare the amount deposited as cash in a bank account, if such amount exceeds Rs 1 crore during the FY.

4. Foreign travel: If you have spent more than Rs 2 lakh on travelling abroad during the FY, you need to disclose the actual amount spent.

5. Electricity consumption: If your electricity bills have been more than Rs 1 lakh in aggregate during the FY, you need to disclose the actual amount.

6. Investment details: Details of investment qualifying for deduction under chapter VIA with bifurcation of details of investment made during the period from April 1, 2020 to June 30, 2020.

7. For every assessment year, the last date for filing tax returns is July 31, However, this year ITR filing date has been extended till November 30, 2020 due to pandemic Covid-19.

8. Income Tax Exemptions and Deductions that you can claim under the New Tax Regime for FY 2020-21 (AY 2021-22): Withdrawal by an employee from the Employees' Provident Fund (EPF) is not taxable after 5 years of continuous service.

9. Withdrawal from National Pension Scheme (NPS) on maturity or premature closure up to 40% of the amount received on such withdrawal remains tax free for all. In case of partial withdrawal from NPS, up to 25% of the contributions made by the individual will be tax free. Employer’s contribution to NPS up to 10% of their basic salary and dearness allowance also remains tax free.

10. Under Section 10 (10D) of the Income Tax Act, the sum assured and any bonus paid on maturity or surrender of the life insurance plan is tax free. Maturity proceeds continue to be exempt under Section 10(10D) even in the new regime. The maturity amount including interest received on the Sukanya Samriddhi Yojana will not attract any tax.

11. Conveyance Allowance granted to meet expenditure incurred on conveyance in performance of duties of an office and any allowance granted to an employee to meet the cost of travel on tour or on transfer (including relocation) are tax free.

Interest received from post office savings account balance up to ₹3,500 annually per individual will remain free from tax.

12. Any scholarship granted to meet education costs is tax exempt under Section 10 (16) of the Income Tax Act. Gratuity received from the employer up to ₹20 lakh after rendering 5 years of continuous service. Leave encashment received at the time of resignation or retirement up to ₹3 lakh.

13. Form 26AS will now be a complete profile of the taxpayer w.e.f. 01.06.2020, CBDT vide Notification dated May 28, 2020 amended Form 26AS in Sec 285BB w.e.f. 01.06.2020. Key takeaways are:

a) New form 26AS will also provide information in respect of “Specified financial transactions” which include transactions of purchase/ sale of goods, property, services, works contract, investment, expenditure, taking or accepting any loan or deposits of such value as may be prescribed but not less than of Rs 50,000.

b) Information about income tax demand, refund, proceedings pending, and proceedings completed which may include assessment, reassessment under section 148,153A 153C, revision, appeal will also be shared in this form 26AS.

c) Information on this form 26AS will not be a one-time affair at year end. This will be a live 26AS, as this will be updated regularly within 3 months from the end of the month in which such information is received.

d) Form 26AS will now be a complete profile of the taxpayer for that particular year as against earlier form 26AS which just provided the information about taxes paid by way of TDS/TCS or self-assessing. This form will also have mobile no, email I’d and Aadhar no. of the taxpayer.

e) Further an enabling provision has been notified empowering the CBDT to authorise DG Systems or any other officer to upload in this form, information received from any other officer, authority under any law. Thus any adverse action initiated or taken or found or order passed under any other law such as custom , GST , Benami Law etc. including information about Turnover , import , export etc. will also be put in this form 26AS so that not only the concerned taxpayer but also all the Income Tax authorities will know and have access to such information.

f) This form 26AS will also provide information received by Tax Deptt from any other country under the treaty /exchange of information about income or assets of the taxpayer located outside India.

g) The implication of this new form 26AS will be that banks , financial institutions or any other authority or customer , buyer etc. while carrying out due diligence of the person/ corporate concerned will now ask for form 26AS so as to be sure that there are not any major issues about such person/corporates.

14. This will now make difficult for any taxpayer to hide information from any bank / financial institution/ authority about any proceedings against under any law or tax demand, tax disputes etc, So mandatorily passport no. is to be mentioned, applicable for all.

RERA means Real Estate Regulatory Athority which has been setup by The Real Estate (Regulation and Development) Act, 2016 which is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry

INCOME TAX RETURN FILING DATE AGAIN EXTENDED FOR FY 2018-19 In view of the constraints due to the Covid pandemic & to further ease compliances for taxpayers, CBDT extends the due date for filing of In...

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(20-7-2020) CBDT signs a formal MoU with the Ministry of MSME, marking the beginning of a new era of cooperation and synergy between Ministry of MSME and CBDT. The MoU will facilitate seamless sharing of certain ITR related information by the IT Department, enabling MSME ministry to check and classify enterprises in Micro, Small and Medium categories as per the notified criteria. Both the organizations will appoint Nodal Officer and Alternate Nodal Officers to facilitate the process of data exchange.