In a recent judgment, the Hon'ble Allahabad High Court has quashed the penalty order u/s 129 of UPGST Act 2017 holding that mentioning wrong place of delivery in e-way bill was human error in the absence of finding of mens rea for evading payment of tax
CBDT has clarified the question as to what would be the Cost of Acquisition as on 1.4.2001 for properties purchased prior to 2001 under new Capital Gain Tax Regime. With introduction of new Capital Gain Tax Regime by Union Budget 2024-25, many doubts have arisen. CBDT has recently …
Advisory for FORM GSTR-1A- Form and manner of furnishing details of outward supplies GSTN has issued an advisory for FORM GSTR-1A- Form and manner of furnishing details of outward supplies. Salient feature of Form GSTR-1A The Government vide notification No. 12/2024 – Central Tax dated 10.07.2024, has introduced …
Penalty u/s 271E can not be imposed on cash repayment of advances treated as unexplained cash credits. In a recent judgment, the ITAT Nagpur has held Penalty u/s 271E can not be imposed on cash repayment of advances treated as unexplained cash credits. Any repayment of such alleged …
Mining Royalty is not a tax – Supreme Court Nine Judges Bench approves decision In Kesoram Industries and held that observation in India Cement to the effect that royalty is a tax was incorrect. In a recent judgment, the Hon’ble Supreme Court has held that Mining Royalty is …
Assessee has right to get complete statements recorded against him and relied upon by the Income Tax Department during the assessment proceedings In a recent order, the Hon’ble High Court of Karnataka directed that complete statements recorded against assessee and relied upon by the Income Tax Department during …
CBDT has clarified the question as to what would be the Cost of Acquisition as on 1.4.2001 for properties purchased prior to 2001 under new Capital Gain Tax Regime. With introduction of new Capital Gain Tax Regime by Union Budget 2024-25, many doubts have arisen. CBDT has recently …
Penalty u/s 271E can not be imposed on cash repayment of advances treated as unexplained cash credits. In a recent judgment, the ITAT Nagpur has held Penalty u/s 271E can not be imposed on cash repayment of advances treated as unexplained cash credits. Any repayment of such alleged …
Assessee has right to get complete statements recorded against him and relied upon by the Income Tax Department during the assessment proceedings In a recent order, the Hon’ble High Court of Karnataka directed that complete statements recorded against assessee and relied upon by the Income Tax Department during …
In a recent judgment, the Hon'ble Allahabad High Court has quashed the penalty order u/s 129 of UPGST Act 2017 holding that mentioning wrong place of delivery in e-way bill was human error in the absence of finding of mens rea for evading payment of tax
Advisory for FORM GSTR-1A- Form and manner of furnishing details of outward supplies GSTN has issued an advisory for FORM GSTR-1A- Form and manner of furnishing details of outward supplies. Salient feature of Form GSTR-1A The Government vide notification No. 12/2024 – Central Tax dated 10.07.2024, has introduced …
Mining Royalty is not a tax – Supreme Court Nine Judges Bench approves decision In Kesoram Industries and held that observation in India Cement to the effect that royalty is a tax was incorrect. In a recent judgment, the Hon’ble Supreme Court has held that Mining Royalty is …
Restrictions on use of words Nidhi Limited unless declared as such under section 406(1). Nidhi (Amendment) Rules 2024 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 16th July, 2024 G.S.R. 413(E).—In exercise of the powers conferred by sub-section (1) of section 406 read with sub-sections (1) and (2) …
MCA prescribes period and fee for updating of Directors personal mobile number or email address by e-form DIR-3 KYC MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 16th July, 2024 G.S.R. 412(E).—In exercise of the powers conferred under second proviso to sub-section(1), sub-section (4), clause (f) of sub-section …
The Companies (Significant Beneficial Owners) Amendment Rules, 2024. MCA amends Form No. BEN-2 Return to the Registrar under section 90 MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 15th July, 2024. G.S.R 404(E).—In exercise of the powers conferred by section 90 read with sub-sections (1) and (2) ofsection 469 …
In a recent judgment, the Hon'ble Allahabad High Court has quashed the penalty order u/s 129 of UPGST Act 2017 holding that mentioning wrong place of delivery in e-way bill was human error in the absence of finding of mens rea for evading payment of tax
Penalty u/s 271E can not be imposed on cash repayment of advances treated as unexplained cash credits. In a recent judgment, the ITAT Nagpur has held Penalty u/s 271E can not be imposed on cash repayment of advances treated as unexplained cash credits. Any repayment of such alleged …
Mining Royalty is not a tax – Supreme Court Nine Judges Bench approves decision In Kesoram Industries and held that observation in India Cement to the effect that royalty is a tax was incorrect. In a recent judgment, the Hon’ble Supreme Court has held that Mining Royalty is …
Empanelment to act as ICAI exam observers for September / November 2024 CA Examination. Last date to apply is 10.08.2024 Empanelment of Chartered Accountant Members to act as Observers at Examination Centres for The Chartered Accountants Examinations September /November 2024 ICAI proposes to empanel members to act as …
ICAI invites Expression of Interest (EOI) for Empanelment of Faculty / Subject Matter Experts for Self-paced Online Modules. The Institute of Chartered Accountants of India (ICAI) has invited expressions of interest from Chartered Accountants and Professionals, with 10+ years of teaching experience, for recording e-lectures for Self-Paced Online …
ICAI issues Guidance on Non-Compliances Observed by Quality Review Board (QRB) related to Engagement and Quality Control Standards and observations related to CARO and IFC. ICAI issues Guidance on Non-Compliances Observed by QRB Based on observations noticed during these quality reviews, QRB issues necessary advisories to concerned audit …
Excel Auto 234ABC Interest Calculator for AY 2024-25 with accurate calculation as per revised provisions. Download for Corporate and Non-corporate Assessees Section 234A, 234B and 234C of the Income tax Act, 1961 deals with interest for delay in ITR Filing or Short/Non deposit of Advance tax. Interest is …
Excel Income Tax Challan ITNS 280 for FY 2024-25 AY 2025-26 with database facility. Download ABCAUS Income Tax payment Challan No. ITNS 280 This excel Challan ITNS 280 for payment of Income Tax should be used for making payment of income tax on companies (corporation tax) or income …
ABCAUS Excel Depreciation Calculator FY 2023-24 under Companies Act 2013 as per Schedule-II Version 05.18 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2023-24 has also been formulated and styled the same way as its …
Empanelment to act as ICAI exam observers for September / November 2024 CA Examination. Last date to apply is 10.08.2024 Empanelment of Chartered Accountant Members to act as Observers at Examination Centres for The Chartered Accountants Examinations September /November 2024 ICAI proposes to empanel members to act as …
RBI invites E-tender for appointment of Chartered Accountants as Concurrent Auditor for the period from 01.10.2024 to 30.09.2025 Reserve Bank of India, Bhubaneswar has invited E-tender from Category-I Chartered Accountant Firms registered with ICAI for Odisha State under the Two-Bid system (Technical & Financial Bid) for Appointment of …
Punjab Gramin Bank invites application from Retired Officers from own Bank & sponsor bank conducting Concurrent Audit of its branches. Punjab Gramin Bank invites application from Retired Officers in Scale II to IV from own Bank (PGB) & sponsor bank (PNB including eOBC & eUNI) who retired after …
Customs duty payable even after confiscated goods redeemed after payment of fine – SC In a recent judgment, Hon’ble Supreme Court had held that the owner of goods has a liability to pay customs duty, even after confiscated goods are redeemed after payment of fine under Section 125 …
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 …
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 …
