PUNIT AGARWAL

Chartered Accountant | Tax Litigation | Income Tax Consultant

[PUNIT AGARWAL @punitagrawal]

Deduction of employee’s contribution to Provident Fund – End of Controversy by Finance Bill 2021 https://t.co/BTpbPvIGft’s-contribution-to-provident-fund-–-end-of-controversy-by-finance-bill-2021 #taxmannindia

[PUNIT AGARWAL @punitagrawal]

Dear @nsitharaman @nsitharamanoffc @FinMinIndia @GST_Council Under GST, if a taxpayer wants to challenge an incorrect late fee of say ₹2,000 for a tax period, the appeal before GSTAT requires paying an appeal fee of ₹5,000 per appeal. This makes it economically irrational to seek justice even when the levy is clearly wrong.

For example, if due to GST portal issues late fees of ₹2,000 each are charged for 5 tax periods (₹10,000 total), the taxpayer must pay ₹25,000 as appeal fees before GSTAT just to contest the demand.

The cost of appeal becomes higher than the disputed amount itself. For disputes relating only to late fees or penalties, appeal fees should be nominal, say ₹250 per appeal...similar to the system followed in Income Tax penalty appeals. Access to justice should not become costlier than the dispute itself.
#gst #ca #finance

[PUNIT AGARWAL @punitagrawal]

@heyshrutimishra Guide

[PUNIT AGARWAL @punitagrawal]

@_shubham_dalmia @gurjota Getting cashback when using CRED for credit card payments is not the main benefit. However, having all your credit card bills, due dates, and hidden charges in one place for multiple cards is quite convenient. I believe there's no harm in sharing credit card data with @CRED_club

[PUNIT AGARWAL @punitagrawal]

@IncomeTaxIndia We have received notice u/s 133c of income tax act. The last of submission of response is 06.12.23. However, we are not able to submit our response as the website is facing huge issues. The website says “no data to display” and logs out automatically.

[PUNIT AGARWAL @punitagrawal]

GST portal in not working at all. Please resolve the problem immediately or extend the due date of filing GSTR 3B @cbic_india @nsitharaman @FinMinIndia

[Lucknow Super Giants @LucknowIPL]

"𝑻𝒉𝒊𝒔 𝒊𝒔 𝒕𝒉𝒆 𝒔𝒕𝒖𝒇𝒇 𝒕𝒉𝒂𝒕 𝒘𝒊𝒏𝒏𝒆𝒓𝒔 𝒂𝒓𝒆 𝒎𝒂𝒅𝒆 𝒐𝒖𝒕 𝒐𝒇" 💙

Our proud owner Dr Sanjiv Goenka reflects on the emphatic win at Chinnaswamy! ✨

#RCBvLSG | #IPL2023 | #LucknowSuperGiants | #LSG | #LSGUnfiltered | #LSGTV | #GazabAndaz

[PUNIT AGARWAL @punitagrawal]

@Sassy_Soul_ @GirishAgarwal05 😂

[PUNIT AGARWAL @punitagrawal]

@IncomeTaxIndia Why ITR-6 is asking for interest u/s 234F in case of revised return u/s 139(5) despite filing original return in time?

[PUNIT AGARWAL @punitagrawal]

@CaRANJEET Congratulations Sir

[PUNIT AGARWAL @punitagrawal]

Also please note, The current Govt (NDA) increased tax rate to 87.5% retrospectively through Taxation Law Second Amendment Act, 2016 and issuing notice u/s 148 belatedly.

[Vikas Pandey (Sankrityayan) @MODIfiedVikas]

Also please note, no retrospective tax demands were raised by NDA govt till now (2014-21). It was an awful decision by UPA to, perhaps, blackmail companies. Glad that the draconian bill is now history.

[PUNIT AGARWAL @punitagrawal]

@mehulshahca File an Appeal 😂

[PUNIT AGARWAL @punitagrawal]

@mehulshahca @IncomeTaxIndia Completely agree with you. Fictitious outstanding demand of past years are showing in the portal and refund of subsequent years are adjusted with those fictitious demand. There is no option in the portal to deal with such issues. They have only redesigned the portal.

[PUNIT AGARWAL @punitagrawal]

Please Donate your CRED Coins for Oxygen.
Great Initiative 👍🏻 @kunalb11