Daily Archive: Monday, April 3, 2017

TDS return filing not require directors personal time-Penalty for Late filing confirmed – ITAT

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TDS return filing not require directors personal time-Penalty for Late filing confirmed. Timely filing could have been done by hiring professional services – ITAT ABCAUS Case Law Citation: ABCAUS 1198 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order of the CIT(A) in confirming the

 

Draft Notification us 10-38 for non applicability of STT condition for claiming exemption from LTCG sale of equity share

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Draft Notification us 10-38 for non applicability of STT condition for claiming exemption from LTCG sale of equity share  Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 3rd April, 2017. CBDT Requests for Stakeholder’s comments on Draft Notification to

 

Procedure for e-communication and e-proceedings by Income Tax Department. Assessee can opt out of E-Proceeding. CBDT Notification 4/2017

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Procedure for e-communication and e-proceedings by Income Tax Department. Assessee can opt out of e-Proceeding. DGIT(S)/DIT(S)-3/ AST/Paperless Assessment Proceedings/96/2015-16 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No.4/2017 New Delhi, 3rd day of April,2017 Subject: Procedure, Formats and Standards for

 

Carry forward of loss for belated return with positive income not allowed. Section 80 not use word ‘return of loss’ – ITAT

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Carry forward of loss for belated return with positive income not allowed. Section 80 not use word ‘return of loss’, Section 139(3) talks of loss sustained under specific heads – ITAT ABCAUS Case Law Citation: ABCAUS 1197 (2017) (04) ITAT The Grievance: The assessee was aggrieved by the order

 

Revised Date for applicability of Standards on Auditing. SA 700, SA 701, SA 705, SA 706 applicable for periods beginning on or after 01/04/2018

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Revised Date for applicability of Standards on Auditing. SA 700, SA 701, SA 705, SA 706 applicable for periods beginning on or after 01/04/2018 ICAI IMPORTANT ANNOUNCEMENT Important Announcement on revised Effective Date/ Applicability of following Standards on Auditing – SA 700 (Revised), “Forming an Opinion and Reporting on

 

Option form 3CFA for taxation of income from patent us 115BBF CBDT Notification 25/2017

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Option form 3CFA for taxation of income from patent us 115BBF MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 25/2017 New Delhi, the 31st March, 2017 INCOME-TAX G.S.R. 318(E).—In exercise of the powers conferred by sub-section (3) of section 115BBF, read with section 295