Month: August 2018
ICAI ties up with tax portals to provide access to their website contents at concessional price to its members. Comparison of the offer ranks of the portal The Institute of Chartered Accountants of India (ICAI) has entered into an arrangement with different taxation related online portals/websites to provide …
ICAI Advanced ICITSS – Advanced IT Test scheduled on 19.08.2018 in Kerala cancelled due to heavy rains / floods and disruption of normal life Advanced ICITSS – Advanced IT Test – ICAI Announcement Due to heavy rains/floods and disruption of normal life in the state of Kerala, the Chartered Accountants …
Payments made by University to affiliated colleges for conducting examinations in different centres were reimbursement and not fee for technical services u/s 194J – ITAT ABCAUS Case Law Citation: ABCAUS 2476 (2018) 08 ITAT The instant appeal was filed by the assessee against the order of Commissioner of …
The jurisdiction cannot be challenged after expiry of time limit prescribed u/s 124(3). The challenge to jurisdiction is different from challenge to transfer of jurisdiction – ITAT ABCAUS Case Law Citation: ABCAUS 2475 (2018) 08 ITAT The instant appeal was filed by the assessee against the order of …
AO was not justified in applying accounting method followed by a different assessee and rejecting Percentage of completion method consistently applied which had been accepted by Revenue in past- ITAT ABCAUS Case Law Citation: ABCAUS 2474 (2018) 08 ITAT Important Case Laws Cited/relied upon: Investment Ltd V/s CIT …
Educational Material on Indian Accounting Standard (Ind AS) 115, Revenue from Contracts with Customers ICAI Announcement The objective of Ind AS 115 is to establish the principles that an entity shall apply to report useful information to users of financial statements about the nature, amount, timing and uncertainty …
Utilization of Electronic Cash and Input Tax Credit (ITC) Ledger – FAQ. Rules and Principles for utilization of Electronic Cash Ledger and ITC credit 1. After submitting the GSTR-3B return, I was trying to make payment of the tax and was trying to offset my liability from the …
High court orders inquiry for manipulation of reasons to believe and role of the AO. Recommends strict disciplinary action for playing a subterfuge by back dating the records ABCAUS Case Law Citation: ABCAUS 2473 (2018) 08 HC Important Case Laws Cited/relied upon by the parties: Haryana Acrylic Manufacturing …
Insolvency and Bankruptcy Code Second Amendment Act 2018 received the assent of the President. Section 12A inserted to allow withdrawal of application. Notes on Clauses on Insolvency and Bankruptcy Code (Second Amendment) Bill 2018 Clause 1 of the Bill provides for the short title and commencement. Clause 2 of the Bill seeks to …
Issue of certificate u/s 197 for no-lower deduction and collection of tax electronically. Draft notification proposing amendment to Rules and rationalisation of Form 13 F.No.370142/10/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** New Delhi, dated the 17th August, …