Day: August 18, 2016

5th Set of FAQ-The Income Declaration Scheme 2016. CBDT has issued further clarification and FAQ vide circular no. 29 of 2016 dated 18-08-2016

5th Set of FAQ-The Income Declaration Scheme 2016 Circular No.29 of 2016 F.No.142/8/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated 18th day of August, 2016 Clarifications-5th Set of FAQ on the Income Declaration Scheme 2016 The Income Declaration …

IDS 2016-Fair market value of immovable property evidenced by a registered deed to be adjusted by Cost Inflation Index. CBDT Notification 74/2016

IDS 2016-Fair market value of immovable property evidenced by a registered deed to be adjusted by Cost Inflation Index.  GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES New Delhi, the 17th August, 2016 Notification No. 74/2016 S.O._______- In exercise of the powers …

IOB concurrent audit online empanelment application for 460 branches. Last date to apply 22-08-2016. Only online applications accepted

IOB concurrent audit online empanelment application Fee Structure: Rs. 12000/- to Rs. 30000/- Portal Opening Date: 12-08-2016   Portal Closing Date: 22-08-2016 Category-I Applications may be submitted from 18-08-2016  Indian Overseas Bank has invited application for empanelment of Concurrent Auditors for its 460 Branches across the Country. The concurrent audit assignment shall be for …

Books non-rejection and making additions than estimating income wrong when there were defects in accounts produced and many accounts not produced – ITAT

Books non-rejection and making additions than estimating income wrong when there were defects in accounts produced and many accounts not produced – ITAT ABCAUS Case Law Citation: 992 2016 (08) ITAT Assessment Year: 2006-07 Date/Month of Judgment: August 2016 Brief Facts of the Case: The assessee was a partnership …

Loss on furnishing guarantees for subsidiary company allowed as incurred by holding company in carrying on its own business – ITAT

Loss on furnishing guarantees for subsidiary company allowed as incurred by holding company in carrying on its own business a the nature of the business of assessee company included furnishing of guarantee to debts borrowed by subsidiary company. ABCAUS Case Law Citation: 991 2016 (08) ITAT Assessment Year: 2005-06 …