Month: December 2016
Penalty initiated for concealment levied for inaccurate particulars and concealment both is invalid. AO must frame a precise charge u/s 271(1)(c)-ITAT ABCAUS Case Law Citation: ABCAUS 1073 (2016) (12) ITAT Assessment Year: 2009-10 Date of Judgment: 29-11-2016 Important Case Laws cited: Zoom Communications P Ltd 327 ITR 510 …
GUIDANCE NOTE ON FATCA and CRS updated 30-11-2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Foreign Tax & Tax Research Division Guidance Note on Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) updated as on 30th November 2016 Purpose of …
Misuse of Jan-Dhan Accounts post demonetisation. Among rumors of freezing of JDY accounts, CBDT wanrns such account holders not to consent to deposit of undisclosed money in their accounts Ministry of Finance 04-December, 2016 Tax Investigations unearth mis-use of Jan-Dhan Accounts; Account holders once again urged by CBDT not to …
Sales incomplete till goods delivery unless insurable risk passes to buyer. FOR destination basis sales invoice reversal for goods in transit at the year end valid-ITAT ABCAUS Case Law Citation: ABCAUS 1072 (2016) (12) ITAT Assessment Year: 2011-12 Date of Judgment: 29-11-2016 Important Case Laws cited: Morvi Industries …
ICAI online duplicate mark sheets-pass certificates application-Fees payable and download format of the affidavit for this online facility ICAI Announcement 02nd December 2016 Introduction of the facility of on-line submission of requests for issue of duplicate mark sheets/pass certificates. An on-line facility for submission of requests for issue …
Electronic Payment Systems Data for November-2016-RBI. As per provisional data released, 664.39 million payments were made valued at 93993.89 billion Reserve Bank of India Date : Dec 02, 2016 Daily Release of Electronic Payment Systems Data from RBI The Reserve Bank of India today released provisional data for …
Offer Period under SEBI Takeover Regulations commencement date is from the date of concluded share purchase agreement for violation u/s 22(7)-Supreme Court ABCAUS Case Law Citation: ABCAUS 1071 (2016) (12) SC The Grievance: In the present case, SEBI had challenged order of the Securities Appellate Tribunal reversing the …
Procedure for filing and verification of Form 26A CA Certificate. Removing default of TDS Short Deduction Non Deduction-CBDT Notification F. No. DGIT(S)/CPC(TDS)/NOTIFICATION/2016 -17 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of lncome-tax (System s) New Delhi. Notification No. 11/2016 New Delhi, 2nd December, …
Increased PAN applications due to demonetisation and amendments in Rule 114B and Rule 114E. Timely resolution of probable duplicate PAN marked by system Income Tax is gearing up of the PAN services due to sharp increase in PAN Applications after the recall of high denomination bank notes and …
50C provisions not apply to transfer of right in partnership firm. Sale deed was executed in favour of incoming partners for transferring retiring partner’s right in the property belonging to the partnership firm-ITAT ABCAUS Case Law Citation: ABCAUS 1070 (2016) (12) ITAT Assessment Year: 2011-12 Date/Month of Judgment/Order: …
