Month: June 2019
Disallowance of entire expenditure on school running was arbitrary and unreasonable. AO was directed to estimate income @20% of gross receipts ABCAUS Case Law Citation:ABCAUS 2996 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties:Dhakeswari Cotton Mills Ltd. Vs. CIT (1954) 26 ITR 775 (SC)Vidyodaya Educational …
ITAT directed AO to give telescopic benefit for chit contributions as there was no finding that income estimated from business was invested else where ABCAUS Case Law Citation: ABCAUS 2995 (2019) (06) ITAT The only grounds of appeal raised by the assessee in the instant appeal was related …
On rejection of approval u/s 10(23C) no bar in making fresh application, treating application of the assessee as non-est was unjustifiable ABCAUS Case Law Citation: ABCAUS 2994 (2019) (06) ITAT The appeal was filed by the assessee against the order of the Commissioner of Income Tax (Exemptions) on …
Change of nomenclature of the post of Superintendent of Central Excise working in the Directorates under CBIC as Additional Assistant Director F. No. A-11013/17/2019-Ad.IVGovernment of India Ministry of Finance Department of RevenueCentral Board of Indirect Taxes & Customs**** 5th Floor, HUDCO Vishala Building,Bhikaji Cama Place, R.K Puram, New …
Exemption u/s 10(14) allowed to development officers of LIC for conveyance allowance and allowance for procuring new business ABCAUS Case Law Citation: ABCAUS 2993 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Ramayya & Others (214 ITR 368) K.Pullarao Vs. ITO Various assessees had filed …
Facility for filing of online e-nomination available at EPFO Unified Portal A facility for filing of online e-nomination is available at EPFO Member Interface of Unified Portal. In order to make this functionality compatible with online Form 10D claim to be filed by members and online composite claim …
Bank frauds detection and reporting increased due to Govt’s proactive measures – Finmin As per Finance Ministry due to Government’s proactive measures, there has been increased detection and reporting of bank frauds The above statement was given in response to Rajy Sabha Starred Question replied on 1.1.2019 by …
RBI Governor’s Statement – Second Bi-Monthly Monetary Policy, 2019-20 Date : Jun 06, 2019 During June 3rd and 4th, 2019 the Monetary Policy Committee (MPC) assessed recent macroeconomic developments and the outlook. In its meeting today, it voted unanimously to reduce the policy repo rate by 25 basis points, …
RBI abolishes RTGS and NEFT transactions charges, ATM Fee Structure also under review. The Reserve Bank levies minimum charges on banks for transactions routed through its Real Time Gross Settlement System (RTGS) meant for large-value instantaneous fund transfers and the National Electronic Funds Transfer (NEFT) System for other …
Procedure for online filing of TDS/TCS returns – CBDT Notification. Option of online filing through e-filing portal or submission at TIN Centres F. No.1/3/7/CIT(OSD)/E-Filing/TDS/TCS FORMS Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 10 /2019 New Delhi, 04, …