Daily Archive: Monday, June 6, 2016

Notional interest Perquisite on Security deposit paid to landlord. Notional Interest on amount paid by employer for employee’s accommodation not perquisite

Author: | Categories: Income Tax, ITAT, Judgments No comments
Notional interest Perquisite on Security deposit paid to landlord. Notional Interest on amount paid by employer for employee’s accommodation not perquisite-ITAT ABCAUS Case Law Citation: 934 2016 (06) ITAT Brief Facts of the Case: The assessee was an employee having income from salary and other sources. His return of

 

Interest 234B invalid if TDS deductible on entire income us 195 as there is no failure on the part of the assessee in payment of advance tax-ITAT

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Interest 234B invalid if TDS deductible on entire income us 195 as there is no failure on the part of the assessee in payment of advance tax-ITAT ABCAUS Case Law Citation: 932 2016 (06) ITAT The Question: whether interest under section 234B of the income tax act can be levied

 

Rule 8D Amendment CBDT Notification 43/2016. Formula for interest not directly attributable to exempt income deleted. Expenditure claimed set as maximum limit

Author: | Categories: Income Tax 1 Comment
Rule 8D Amendment CBDT Notification 43/2016. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES Notification No. 43/2016 New Delhi, the 2nd June, 2016 S.O. 1949(E)– In exercise of the powers conferred by section 295 read with subsection (2) of section 14A of the

 

SEBI Caution-Unlisted companies luring investors by issuing securities /non-convertible debentures/shares etc. in the garb of private placement

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Securities & Exchange Board of India PR No. 109/2016 Caution to the Investors Some unlisted companies are luring retail investors by issuing  securities  including non-convertible and convertible debentures/ non-convertible and convertible preference  shares/ equity shares in the garb of private placement,  without  complying with the provisions of Companies Act,

 

SEBI cautions investors not to invest in schemes offered by entities barred from raising money or not registered with SEBI. List of 100 Companies since 2011

Author: | Categories: SEBI 1 Comment
SEBI cautions investors not to invest in schemes offered by entities barred by SEBI from raising money or entities not registered with SEBI Certain Collective Investment Scheme(s) (CIS) have come to the notice of SEBI, which were offered by entities not registered with SEBI nor offer document of such schemes

 

AO bound to furnish reopening reasons recorded us 147 within a reasonable time for initiation of reassessment proceedings u/s 147/148

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AO bound to furnish reopening reasons recorded us 147 within a reasonable time for initiation of reassessment proceedings u/s 147/148 This was held by ITAT in a recent Judgment ABCAUS Case Law Citation: 6611 2016 (06) ITAT Brief Facts of the Case: The assessee filed his return of income