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ICAI Guidance Note on Audit of Banks 2023 Edition ICAI has issued 2023 edition of the Guidance Note on Audit of Banks. The revised 2023 edition incorporates the impact of the various circulars of the Reserve Bank of India as well as certain important advisories, pronouncements of the …
GSTN Advisory for the taxpayer wishing to register as “One Person Company” in GST Portal As per provision of section 2(62) of The Companies Act, 2013 “One Person Company” is defined as a company which has only one person as member. Some issues have been raised by the …
Reassessment on the wrong presumption that assessee not have PAN and is a non return filer held void ab initio as basic premise on which initiated has no legs to stand – ITAT ABCAUS Neutral Case Law Citation:ABCAUS 3688 (2023) (03) ITAT Important Case Laws relied upon by …
Phenomenal LTCG in short period possible only through a colorable device – ITAT upheld taxing LTCG as income from undisclosed income ABCAUS Neutral Case Law Citation:ABCAUS 3687 (2023) (03) ITAT Important Case Laws relied upon by parties:Sanjay Bimalchand Jain vs. CITSurya Prakash Toshniwal (HUF) vs ITOCIT vs. Durga …
CBDT amends notification of Special Courts under Income Tax Act and Black Money Act for the State of Tamil Nadu MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)(Investigation Division-V) Notification No. 13/2023 New Delhi, the 14th March, 2023 S.O. 1223(E).—In exercise of the powers conferred by sub-section …
Transportation/Mess Fee held integral part of education, the main objective of the trust – ITAT deleted additions made u/s 11(4A) ABCAUS Neutral Case Law Citation:ABCAUS 3686 (2023) (03) ITAT Important Case Laws relied upon by parties:Daya Nanda Pushpa Devi Charitable Trust Vs. ACIT In the instant case, the …
Prosecution u/s 276CC – Whether default is willful or not is a fact to be decided by trial court on the basis of evidence adduced – High Court ABCAUS Neutral Case Law Citation:ABCAUS 3685 (2023) (03) HC In the instant case, the assessee had filed a Petition before …
Virtual digital asset now covered under the Prevention of Money-laundering Act (PMLA) MINISTRY OF FINANCE(Department of Revenue) NOTIFICATION New Delhi, the 7th March, 2023 S.O. 1072(E).—In exercise of the powers conferred by sub-clause (vi) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-laundering …
SEBI requires investors to link PAN with Aadhaar number prior to March 31, 2023 Linking of PAN with Aadhaar to be done by March 31, 2023 The provisions of Income – tax Act, 1961, make it mandatory for every person who has been allotted a Permanent Account Number …
ICAI has issued an Implementation Guide to Standard on Auditing (SA) 580 – Written Representations. The Implementation Guide provide practical guidance on implementation of the Standard on Auditing (SA) 580 “Written Representations”. The Standard is effective for audits of financial statements for periods beginning on or after April …
