Month: July 2018
Section 50C not applicable to sale of property through Power of Attorney. Provisions at best could be invoked only in the hands of the original owner-ITAT ABCAUS Case Law Citation: ABCAUS 2426 (2018) 07 ITAT The instant appeal had been filed by the assessee against the order of …
RBI to Issue New Design Rs. 100 Denomination Banknote The Reserve Bank of India will shortly issue ₹ 100 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has Motif of “RANI KI VAV” …
Ministry of Corporate Affairs (MCA) invites applications from Chartered Accountants (CAs) having 2 to 5 years of post-qualification experience at 41 locations The selected candidates will be engaged as Consultant in the MCA Offices located all over India in compliance, Investigation and inspection related areas of work. The …
Denial of Section 54F exemption for quoting wrong section without examining merits of deduction claimed-ITAT remands the case to Assessing Officer ABCAUS Case Law Citation: ABCAUS 2425 (2018) 07 ITAT The instant appeal had been filed by the assessee against the order of the CIT(A) upholding the …
Non-mentioning the precise section for making addition for bogus purchase made the impugned addition bad in law – ITAT deletes the addition ABCAUS Case Law Citation: ABCAUS 2424 (2018) 07 ITAT The instant appeal was filed by the assessee against the order of CIT(A) in confirming the action …
Supreme Court stays applicability of ESI to construction site workers/labour ABCAUS Case Law Citation:ABCAUS 2423 (2018) 07 SC The Employees State Insurance Corporation had issued a Circular bearing No. P.12/11/11/60/20110-REV.II dated 31/07/2015 extending the benefit of ESI Scheme to the construction site workers, deployed in the implemented area …
12 Mistakes/Practices that would invite TDS/TCS Survey by Income Tax Department. Follow best practices to ensure proper compliance of TDS provisions The Income Tax Central Action Plan 2018-19 has set a target of at least 30 surveys/spot verifications by each Assessing Officer during the year. CPC (TDS) regularly …
CBDT issues Income Tax Central Action Plan 2018-19. 1250000 new return filers to be added The CBDT has issued the Central Action Plan (CAP) for 2018-19. The Action Plan lays down the deliverables, action points and time-lines in respect of Key Result Areas of the Income Tax Department …
MRA / MoU between ICAI and CPA Ireland, BIBF Bahrain and NBAA Tanzania Cabinet approves the Mutual Recognition Agreement (MRA) / Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and : (a) The Institute of Certified Public Accountants, Ireland (MRA) (b) Bahrain Institute of …
CBIC nominates Grievance Redressal Officers for e-way bill system where vehicle has been intercepted and detained for a period exceeding thirty minutes. Grievance Redressal Officers have been appointed by both the Central and State Governments under the provisions of e-way bill rules for processing the complaints/information uploaded by taxpayers/transporters …