Month: December 2016

Capital gain deduction-House Sale-purchase from family members. Everybody entitled to arrange his affairs within law even if it results into tax reduction-ITAT

Capital gain deduction-House Sale-purchase from family members. Everybody entitled to arrange his affairs within law even if it results into reduction of tax liability-ITAT ABCAUS Case Law Citation: ABCAUS 1090 (2016) (12) ITAT Important Case Laws relied upon: UOI vs. Azadi Bachao Andolan (2003) 263 ITR 706 (SC). …

Recent Decisions of ICAI Ethical Standards Board related to chartered accountants/firm in practice.

Recent Decisions of ICAI Ethical Standards Board related to chartered accountants/firm in practice. Mentioning Knowledge Partner not permissible. Recent Decisions of ICAI Ethical Standards Board 1. A chartered accountants in practice cannot become Financial Advisors and receive fees/commission from Financial Institutions such as Mutual Funds, Insurance Companies, NBFCs …

Company Names Removal Provisions effective from 26-12-2016. Section 248-252-Removal of companies name from register of companies

Company Names Removal Provisions effective from 26-12-2016. Section 248-252-Removal of companies name from register of companies. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 26th December, 2016 S.O. -(E),-In exercise of the power conferred by sub-section (3) of Section 1 of the companies Act, 2013 …

Deductions not claimed for CA mistake allowable during assessment proceedings if found correct and there is no need to file revised return-ITAT

Deductions not claimed for CA mistake allowable during assessment proceedings if found correct and there is no need to file revised return-ITAT ABCAUS Case Law Citation: ABCAUS 1089 (2016) (12) ITAT The Grievance: The present appeal was directed against the order of Assessing Officer (AO) and CIT(A) inter …

Demonetisation-Revenue collection belies adverse impact predicted by critics. Assessment can be unreal but revenue is real-Finance Ministry

Demonetisation-Revenue collection belies adverse impact predicted by critics. Assessment can be unreal but revenue is real-Finance Ministry Ministry of Finance Dated: 29/12/2016 Press Release Statement made by the Union Finance Minister Shri Arun Jaitley on Remonetisation and its impact. Following is the transcription of the Statement made by …

EPF Exemption surrender guidelines-Processing of pending cases. Transfer of Trust funds and third party audit-EPFO

EPF Exemption surrender guidelines-Processing of pending cases. Transfer of Trust funds and third party audit-EPFO For Web Circulation Only Employees’ Provident Fund Organisation (Ministry of Labour, Govt. of  India) Bhavishya Nidhl Bhawan, 14- Bhikaji Cama Place,New Delhi – 110066 www.epfindia.gov.in,www.epfindia.nlc.in No. C-Ex/32(6)13/Cancellation Order/24832           …