Welcome to Ritul Patwa & Co, Chartered Accountants

Reserve Bank of India (RBI) - Policy measures to address Financial Stress by Corona Virus : 27-03-2020

Reserve Bank of India (RBI) has proactively announced several policy measures to address the stress in the Financial System as an impact of the Corona Virus (COVID19) including:- (i) expanding liquidity in the system sizeably to ensure that financ ...... Read Completely
EQUALISATION LEVY ON E-COMMERCE OPERATORS - FINANCE ACT, 2020

Equalisation Levy was introduced in the Finance Act, 2016, to charge/ levy tax, on consideration received or receivable on certain specified services like online advertising and marketing service, provided by non-resident service providers to a resid ...... Read Completely
TAX LIABILITY ON INCOME OF A MINOR CHILD IN INDIA

Income Tax Act, 1961, has separate provisions for taxation of income of a Minor Child in india and clubbing of his income in the income of parents. We are discussing below the FAQs for easy understanding of the provisions of Law:-   FAQ 1 ...... Read Completely
NOT FILLING GST RETURNS - WHAT ACTION DEPARTMENT WILL TAKE?

The Central Board of Indirect Taxes and Customs (CBIC) have issued standard guidelines for the field formations of Goods and Services Tax, for dealing with cases where the Dealers or Registered Persons are not filling their GST Returns vide Circular ...... Read Completely
NOT RECEIVED INCOME TAX REFUND : STEP-BY-STEP PROCESS FOR REFUND RE-ISSUE REQUEST

This is a very common problem faced by many taxpayers, that they have not received their Income Tax Refund. There may be number of reasons for refund not issued or refund failure including (but not limited to) providing a wrong bank account details i ...... Read Completely