Month: January 2017
Element of undisclosed investment in undisclosed purchases upheld. Peak credit of purchases rejected. AO to work out number of fund rotations required for achieving undisclosed purchases -ITAT ABCAUS Case Law Citation:ABCAUS 1107 (2017) (01) ITAT Assessment Year : 2010-11 The Issue for determination:The issue before the ITAT was …
Transport Allowance to deaf-dumb employees at double rates. Central Government employee to get double allowance from 19-02-2014-Finmin No. 20/2/2016-E-II(B) Government of India Ministry of Finance Department of Expenditure *** North Block, New Delhi. Dated: 17.01.2017 OFFICE MEMORANDUM Subject:– Grant of Transport Allowance at double the normal rates to …
Deduction us 54-Old fund used for construction of new house. It is not mandatory that only the sale consideration of house sold is to be utilized for purchasing or constructing a new residential house-ITAT ABCAUS Case Law Citation:ABCAUS 1106 (2017) (01) ITAT Important Case Laws Cited/relied upon:Smt. Shantaben P. …
PMGKDS 2016-Co-operative Banks not authorised to accept deposits. Para 7 (1) of the notification has been amended in this regard. Ministry of Finance Ministry of Finance Dated: 20/01/2017 Press Release Amendment in Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 The Government of India, in consultation with the …
Stock exchanges to provide Fair-transparent data feeds access by formulating comprehensive policy document irrespective of type of mechanism used-SEBI Securities and Exchange Board of India CIRCULAR SEBI/HO/MRD/DP/CIR/P/2017/08 …
Import of POS terminal devices cells-batteries and labelling requirements. Custom exemptions from regulatory requirements. Circular No. 03/2017-Customs F.No.528/121/2016-STO(TU) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs 227B, North Block New Delhi, the 16th January, 2017 To, All Principal Chief Commissioners/ Chief …
Showing trade discounts in tax Invoice not compulsory. Credit notes eligible under Rule 3(2)(c) of the Karnataka Value Added Tax Rules 2005-Supreme Court ABCAUS Case Law Citation: ABCAUS 1105 (2017) (01) SC Important Case Laws Cited: State of Karnataka vs. M/s Kitchen Appliances India Ltd. M/s Southern Motors …
Transaction Codes for Preparation of SFT us 285BA Rule 114E. Code SFT-001 to SFT-014 Transaction Specific Guidelines for Preparation of Statement of Financial Transactions (SFT) Transaction specific guidelines for preparation of Statement of Financial Transactions (SFT) are given in following paragraphs. SFT- 001: Purchase of bank drafts or …
Guidelines-Preparation of SFT us 285BA Rule 114E. Statement of financial transaction Form No. 61A-CBDT Notification 1/2017 General Guidelines for Preparation of Statement of Financial Transactions (SFT) Section 285BA of the Income Tax requires specified reporting persons to furnish statement of financial transaction. Rule 114E of the Income Tax …
Updated List-Transactions to be reported under Rule 114E. Updated List-Transactions to be reported under Rule 114E. Nature and value of transactions to be reported under Rule 114E. CBDT Notification 1/2017 Sl. No. Nature and value of transaction Class of person (reporting person) (1) (2) (3) 1. (a) Payment made …
