ICAI cancels/restores membership of thousands of CAs due to death/non payment of fee The Institute of Chartered Accountants of India has removed the names of 1593 Chartered Accountants from Register of Members with effect from 1st October 2022 on account of non-payment of membership fees. However, ICAI has …
NSDL latest e-TDS TCS Return Preparation Utility (RPU) Version 4.9 from FY 2007-08 NSDL has revised the e-TDS TCS RPU utility for preparing of TDS/TCS returns. e-TDS/TCS RPU version 4.9 for Statement(s) from FY 2007-08 onwards has been released. Also e-TDS/TCS File validation utility (FVU) versions 2.180 for …
GST Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023 1. Amnesty for Taxpayers: The GST Council, in its 52nd meeting, recommended granting amnesty to taxpayers who could not file …
Exemption u/s 54F – Bar of holding more than one residential property applies on start of day or at the end of the day of transfer of capital asset, ITAT answers ABCAUS Case Law Citation:ABCAUS 3821 (2023) (11) ITAT Important Case Laws relied upon by parties:Smt. Maya A …
Under section 271AAB undisclosed income also means additional income due to bogus expense recorded in the books of accounts – ITAT ABCAUS Case Law Citation:ABCAUS 3820 (2023) (11) ITAT Important Case Laws relied upon by parties:ACIT vs. Sri Mahender Kumar AgarwalCIT vs. Harjeev Aggarwal, 70 taxmann.com 95 Radhey …
To attract provisions of section 69A sine qua non is “ownership” of money etc. which is not recorded in the books of account not mere presumption- ITAT ABCAUS Case Law Citation:ABCAUS 3819 (2023) (11) ITAT Important Case Laws relied upon by parties:Common cause v. UOI 77 taxmann.com 245 …
NSDL latest e-TDS TCS Return Preparation Utility (RPU) Version 4.9 from FY 2007-08 NSDL has revised the e-TDS TCS RPU utility for preparing of TDS/TCS returns. e-TDS/TCS RPU version 4.9 for Statement(s) from FY 2007-08 onwards has been released. Also e-TDS/TCS File validation utility (FVU) versions 2.180 for …
Exemption u/s 54F – Bar of holding more than one residential property applies on start of day or at the end of the day of transfer of capital asset, ITAT answers ABCAUS Case Law Citation:ABCAUS 3821 (2023) (11) ITAT Important Case Laws relied upon by parties:Smt. Maya A …
Under section 271AAB undisclosed income also means additional income due to bogus expense recorded in the books of accounts – ITAT ABCAUS Case Law Citation:ABCAUS 3820 (2023) (11) ITAT Important Case Laws relied upon by parties:ACIT vs. Sri Mahender Kumar AgarwalCIT vs. Harjeev Aggarwal, 70 taxmann.com 95 Radhey …
GST Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023 1. Amnesty for Taxpayers: The GST Council, in its 52nd meeting, recommended granting amnesty to taxpayers who could not file …
Special Procedure for filing GST Appeals which could not be filed against order passed on or before 31.03.2023 u/s 73 or 74 within the time period MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 53/2023– CENTRAL TAX New Delhi, the 2nd November, 2023 …
Goods and Services Tax Appellate Tribunal (Appointment and Conditions of Service of President and Members) Rules, 2023. Finance Ministry has notified the Goods and Services Tax Appellate Tribunal (Appointment and Conditions of Service of President and Members) Rules, 2023. Selection for posts of President and Members shall be …
Section 5 of the Companies (Amendment) Act, 2020 made effective from 30.10.2023 Section 5 of the Companies (Amendment) Act, 2020 provides in amendment to section 23 related to public offer and placement as under: 5. In section 23 of the principal Act, after sub-section (2) and before the …
LLP to maintain Register of Partners from the date of its incorporation – Limited Liability Partnership (Third Amendment) Rules, 2023 MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 27th October, 2023 G.S.R. 803(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 79 of the Limited …
Shifting of registered office from one State or UT to another when management of company is taken over by new management under IBC – relaxation by MCA MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 20th October,2023 G.S.R. 790(E).—In exercise of the powers conferred by section 3, section 4, …
Exemption u/s 54F – Bar of holding more than one residential property applies on start of day or at the end of the day of transfer of capital asset, ITAT answers ABCAUS Case Law Citation:ABCAUS 3821 (2023) (11) ITAT Important Case Laws relied upon by parties:Smt. Maya A …
Under section 271AAB undisclosed income also means additional income due to bogus expense recorded in the books of accounts – ITAT ABCAUS Case Law Citation:ABCAUS 3820 (2023) (11) ITAT Important Case Laws relied upon by parties:ACIT vs. Sri Mahender Kumar AgarwalCIT vs. Harjeev Aggarwal, 70 taxmann.com 95 Radhey …
To attract provisions of section 69A sine qua non is “ownership” of money etc. which is not recorded in the books of account not mere presumption- ITAT ABCAUS Case Law Citation:ABCAUS 3819 (2023) (11) ITAT Important Case Laws relied upon by parties:Common cause v. UOI 77 taxmann.com 245 …
ICAI cancels/restores membership of thousands of CAs due to death/non payment of fee The Institute of Chartered Accountants of India has removed the names of 1593 Chartered Accountants from Register of Members with effect from 1st October 2022 on account of non-payment of membership fees. However, ICAI has …
Standards on Auditing applicable to companies should also apply to audit of limited liability partnerships. ICAI issues exposure Draft of Standards on Auditing for LLPS The Institute of Chartered Accountants of India (ICAI) had submitted ICAI’s recommendations to the National Financial Reporting Authority (NFRA) regarding 35 Standards on …
In ICAI Open Book’ methodology exam also the student required to write answers not copy-paste in the answer book – Supreme Court dismisses student’s SLP ABCAUS Case Law Citation:ABCAUS 3817 (2023) (11) SC The petitioner had appeared in the C.A. final examination conducted by the ICAI in the …
ABCAUS Excel Depreciation Calculator FY 2022-23 under Companies Act 2013 as per Schedule-II Version 04.26 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2022-23 has also been formulated and styled the same way as its …
Excel Calculator to compare Tax under existing / old and new Personal Tax Regime u/s 115BAC for AY 2024-25 (FY 2023-24) Excel Calculator to compare Tax under existing and new Personal Tax Regime u/s 115BAC. Union Budget 2023-24 has disappointed individual taxpayers who were expecting tax benefits in …
Excel Form 10E-Salary Arrears Relief calculator AY 2023-24 (FY 2022-23) for claiming rebate under section 89(1) of Income Tax Act 1961-Download As per section 89(1) of the Income Tax Act, 1961 relief for income tax has been provided when in a financial year an employee receives salary in …
CAG to consider Branch Offices of CA firms based on percent/number of partners stationed there for the purpose of empanelment from 2024-2023 ICAI Announcement dated 9th Nov 2023 The office of C&AG has been giving cognizance to location of the Head office as well as Branch Offices of …
ICAI extends last date for submission of MEF for FY 2023-24 from 06.10.2023 to 21.10.2023. ICAI has hosted he Multipurpose Empanelment Form (MEF) for the year 2023-24 at MEF Portal Considering the requests received for an extension of the last date for submitting the MEF due to tax …
Extension of last date to apply for empanelment to act as ICAI exam observers for November / December 2023 CA Examination. Last date extended to 10.09.2023 ICAI has extend the Last date of online empanelment of members to act as observers at the examination centres for the Chartered …
Electronic certificate of origin or e-CoO, issued by the Issuing Authority of Sri Lanka, is a valid document for the purpose of claiming preferential benefit under the India-Sri Lanka FTA CBIC had received representations that benefit of preferential tariffs in respect of goods eligible for such benefits when …
DGFT has issued latest guidelines for import of Pet Animals (cats/dogs) Directorate General of Foreign Trade has issued a Trade Notice giving the latest import policy provisions for ‘other’ mammals including pet animals (cats/dogs) as under: ITC (HS) Item Description Import Policy Policy Condition Policy Condition (6): Import …
CBIC notifies Shipping Bill (Post export conversion in relation to instrument based scheme) Regulations, 2022 GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUE(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No.11/2022-Customs (N.T.) New Delhi, the 22nd February, 2022 G.S.R.(E).—In exercise of the powers conferred by …
NFRA imposes penalty of Rs. 25 lakhs and debars CA for 7 years for professional misconduct in statutory audit of ILFS Financial Services Ltd ABCAUS Case Law Citation:ABCAUS 3338 (2020) (07) NFRA The National Financial Reporting Authority (NFRA / Authority) helds CA guilty of professional misconduct for performance …
Applications invited from Company Secretary Professionals for contractual vacancies in Investor Education and Protection Fund Authority (IEPFA) ICSI on behalf of Investor Education and Protection Fund Authority, (IEPFA) Ministry of Corporate Affairs has invited applications from Company Secretary Professionals for Five (5) contractual vacancies in Investor Education and …
Quality Review Board Report on Audit Quality Review 2018-19. Audit documentation, standards on quality control, written representations etc. key concern The Quality Review Board (QRB) has been set up by the Government of India under section 28A of the Chartered Accountants Act, 1949. The QRB publishes its …
