Month: August 2018
Amendments in PAN Rule 114 and new application Forms 49A and Form 49AA making PAN compulsory for transactions of Rs. 250000 or more, Option of single mother as parent-Draft Notification F.No. 370142/40/2016-TPL (Part-I) Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ***** …
Banks will remain open in first week of September 2018 except 3 Holidays – Clarification Finance Ministry has clarified that Banks will remain open and banking activity will continue unimpeded in the first week of September 2018 Banks will only observe holidays on Sunday, 2nd September and second Saturday, 8th …
DRI orders freezing bank account was without authority of law – High Court quashed order as no allegation was that amount was liable to be confiscated ABCAUS Case Law Citation: ABCAUS 2500 (2018) 08 HC Important Case Laws Cited/relied upon by the parties: Commissioner of Customs v. Euroasia …
Three GST amendment Acts of 2018 passed by the Parliament receive assent of the President The following three GST related Act passed by the Parliament have received the assent of the President on the 29th August, 2018 Goods and Services Tax (Compensation to States) Amendment Act, 2018 Download …
Law Commission Submits Report on “Worngful Prosecution (Miscarriage of Justice): Legal Remedies” under existing laws and inadequacies as noted by the Delhi High Court The Law Commission of India submitted its Report No.277 titled ‘Wrongful Prosecution (Miscarriage of Justice): Legal Remedies’ to the Government of India on 30th August, 2018. …
Payment for delayed allotment of plot by Housing Board not interest liable to TDS u/s 194A. Expression ‘interest’ was used merely for quantification of the liability – High Court ABCAUS Case Law Citation: ABCAUS 2499 (2018) 08 HC Important Case Laws Cited/relied upon by the parties: Viswapriya Financial …
JDA taxation-no capital gain when possession not handed over to builder and only right to enter the property given to demolish and re-construction ABCAUS Case Law Citation: ABCAUS 2498 (2018) 08 ITAT The aforesaid appeal was filed by the assessee against impugned order passed by CIT (Appeals) in …
Concealment penalty for change in method of stock valuation deleted by ITAT. Lower of Cost or market price method was as per ICAI guidelines and was consistently followed thereafter ABCAUS Case Law Citation: ABCAUS 2497 (2018) 08 ITAT The aforesaid appeal was filed by the assessee against impugned …
Further Extension of due date of 31.08.2018 for income tax return filing for more flood affected States is surely in the anvil but for the announcement. Recently the CBDT extended due date for filing of Income Tax Returns for taxpayers in Kerala till 15th September, 2018. Earlier, it had earlier …
CBDT promotes 16 Officers to the grade of Principal Chief Commissioner of Income Tax CBDT has promoted 16 Officers to the grade of Principal Chief Commissioner of Income Tax (level 17 in the pay matrix Rs.2,25,000) w.e.f. the date of assumption of charge of the post or until …