Month: October 2024
RBI updates the Alert List of unauthorised forex trading platforms. Adds 13th more online portals to the list making list to grow to total 88 unauthorised forex trading platforms The Reserve Bank of India (RBI) has added the following entities/platforms/websites to the Alert List of unauthorised forex trading …
Multipurpose Empanelment Form (MEF)- 2024-25 – Last date for submission extended from 21.10.2024 to 25.10.2024 ICAI, considering the extension of tax audit filing period and to give adequate time to members to submit MEF had first extended the due date from 7th October to 21st October, now again …
Electronic Submission of DGFT Appendix 4H Certificates digitally signed by Chartered Accountants, Company Secretaries, Cost Accountants, Chartered Engineers, etc. Government of IndiaMinistry of Commerce and IndustryDepartment of CommerceDirectorate General of Foreign TradeVanijya Bhawan, New Delhi Date: 17 October 2024 Trade Notice No. 21 /2024-25 ToAll Exporters/Members of Trade …
Cryptic order passed in casual manner by CIT(A) liable for imposition of cost on account of gross violation of statutory provisions of law and principles of natural justice. In a recent judgment, the ITAT Amritsar has held that a cryptic order passed in casual manner by the CIT(A) …
CBDT notifies tolerance range in transfer pricing for variation between ALM u/s 92C for AY 2024-25 MINISTRY OF FINANCE(Department of Revenue) Notification No. 116/2024 New Delhi, the 18th October, 2024 INCOME-TAX S.O. 4571(E).—In exercise of the powers conferred by the third proviso to sub-section (2) of section 92C …
Loose excel sheets without any corroboration thereof, was not adequate enough to draw adverse inference of unaccounted loans by the assessee-firm – ITAT In a recent judgment, the ITAT Chennai has held that loose excel sheets found during search without any corroboration thereof, was not adequate enough to …
CBDT Notifies the Income-tax (Eighth Amendment) Rules, 2024. Income /Loss and ITDS employee may report to employer in Form12BA MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 112/2024 New Delhi, the 15th October, 2024 G.S.R. 639(E).— In exercise of the powers conferred by section 295 …
CBDT issues revised guidelines 2024 for compounding of offences under Income-Tax Act 1961 In conformity with the Finance Minister’s budget announcement on simplification and rationalization of compounding procedure, CBDT has issued Revised Guidelines for Compounding of offences under the Income-tax Act, 1961(the ‘Act’) on 17.10.2024. Section 279(2) of …
Penalty u/s 271B confirmed for lack of proof that Books of accounts were destroyed by termite In a recent judgment, the ITAT Visakhapatnam has confirmed penalty u/s 271B holding that assessee was not able to submit any evidences to show that books of accounts were destroyed by white …
Whether assessee filed or not filed return in view of section 10(26)(AAA) tax can not be levied on the assessee being a Sikkimese. In a recent judgment, the ITAT Kolkata has held that irrespective of whether assessee filed or not filed return of income, in view of section …
