Month: August 2019
ICSI Request for inclusion of Company Secretary in the Definition of “Accountant” given under Explanation to Section 288(2) of the Income Tax Act, 1961 After the representation of The Institute of Cost Accountants of India last month, the ICSI has also demanding that company secretaries be included in …
The Company Secretaries (Amendment) Regulations 2019. ICSI invites suggestions on draft regulations MINISTRY OF CORPORATE AFFAIRS(THE INSTITUTE OF COMPANY SECRETARIES OF INDIA)(Constituted under the Company Secretaries Act, 1980) NOTIFICATION New Delhi, the 6th August, 2019 No. 710/1(M)/1.—The following draft of certain regulations, further to amend the Company Secretaries …
IBBI issues CPE guidelines for Insolvency Professionals. Minimum 10 hours each and 60 hours in three calendar years prescribed Insolvency and Bankruptcy Board of India 6th August, 2019 Insolvency and Bankruptcy Board of India (Continuing Professional Education for Insolvency Professionals) Guidelines, 2019 1. Short title and commencement (a) …
No Penalty u/s 271(1)(c) for mere disallowance in quantum proceedings in the absence of any falsity in the explanation offered ABCAUS Case Law Citation:ABCAUS 3104 (2019) (08) ITAT Important case law relied upon by the parties:CIT vs. Reliance Petro Products Pvt. Limited (322 ITR 158) (sc)Price Waterhouse Coopers …
Assessee is eligible for the deduction of the amount embezzled by the employee as a trading loss u/s 28 of the Income Tax Act ABCAUS Case Law Citation:ABCAUS 3103 (2019) (08) ITAT Important case law relied upon by the parties:Dinesh Mills Ltd. 254 ITR 673 The appeal had …
Mere reflection of income in P&L Account does not make it business income. Books of accounts not conclusive evidence to determine income under a particular head ABCAUS Case Law Citation:ABCAUS 3102 (2019) (08) ITAT Important case law relied upon by the parties:Sutlej Cotton Mills Vs. CIT, West Bengal …
MCA invites applications from Young CAs with 2 to 5 years of experience at various locations Ministry of Corporate Affairs (MCA) invites applications from Young Chartered Accountants having 2 to 5 years of post qualification experience at various locations. The selected candidates will be engaged as Consultant in …
CBDT reduces tax collection target for FY 2019-20 by Rs. 45000 crores, from 13.80 crores to 13.35 crores In May 2019, the CBDT had set a ambitious income tax budgetary target of Rs. 13.80 lakh crores for FY 2019-20 which was 15% more than the direct tax collection …
The Chit Funds (Amendment) Bill 2019 – Key Proposals. Increase in ceiling of aggregate chit amount , presence allowed through video conferencing Government today introduced in the Lok Sabha, the Chit Funds (Amendment) Bill, 2019 to amend the Chit Funds Act, 1982. On enactment the Act shall be …
Govt proposes to increase the number of Judges in the Supreme Court from present thirty to thirty-three, excluding the Chief Justice of India. The Government today, presented in the Lok Sabha, The Supreme Court (Number Of Judges) Amendment Bill, 2019″ to amend the Supreme Court (Number of Judges) …
