• Income Tax

Addition of Purchases Made in March Month to Closing Stock on the assumption of under-utilization quashed by ITAT

10 years ago

Addition of purchases made in March month to closing stock on the assumption that items purchased in month of March…

  • Income Tax

Higher threshold 2 crores limit for non audit is applicable for presumptive taxation u/s 44AD(1) only and not to tax audit u/s 44AB – CBDT

10 years ago

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, the 20th…

  • Income Tax

Penalty us 2711c imposable on voluntary surrender-disclosure to avoid litigation and to buy peace of mind, as it does not meet requirements of Explanation (1) to section

10 years ago

Penalty us 2711c imposable on voluntary surrender-disclosure to avoid litigation and to buy peace of mind, as it does not…

  • ICAI

ICAI fake websites with deceptively similar name – Advisoty

10 years ago

ICAI fake websites advisory for Members Students. icai-org.in and icairesults.info according to ICAI are deceptively similar to its official website …

  • Labour Laws

Employees Pension Scheme 1995-Amendments. (Fourth Amendment) Notification dated 16-06-2016 wef 1st day of April, 2015

10 years ago

Employees’ Pension Scheme 1995-Amendments MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 16th June, 2016. G.S.R. 603(E).—In exercise of…

  • Income Tax

FDR Interest Business Income-No addition when books rejected. AO cannot fall back upon same books for making addition of interest reflected therein

10 years ago

FDR Interest Business Income-No addition when books rejected In an interesting judgment which is quite opposite to the view held…

  • PPF

Premature Closure of PPF Account Conditions-Deductions. Withdrawal for Treatment of Disease or Higher Education after five Financial years

10 years ago

Premature Closure of PPF Account Conditions-Deductions Ministry of Finance Department of Economic Affairs Notification New Delhi, the 18th June, 2016…

  • MSME

No Fee for MSME Udyog Aadhar Memorandum Form Registration which is the only form of registration for MSMEs in India and there is no fee for the registration

10 years ago

No Fee for MSME Udyog Aadhar Memorandum Form Registration Ministry of Micro,Small & Medium Enterprises 20th June, 2016 Ministry of…

  • Income Tax

CBDT Exempts Startups shares issued above FMV to residents from the deeming taxation provisions of section 56(2)(viib)

10 years ago

CBDT Exempts Startups shares issued above FMV CBDT has notified tax exemption on investments above fair market rate for startups. Now…

  • Income Tax

Peak credit theory not applicable when cash not withdrawn but only deposited in bank account and used for investment in mutual funds.

10 years ago

Peak credit theory not applicable when cash not withdrawn but only deposited in bank account and used for investment in…