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RBI released Annual Report of the Ombudsman Schemes for the year 2018-19 – Read Highlights The Reserve Bank of India (RBI) released the Annual Report of the “Ombudsman Schemes of RBI for the year 2018-19” today. Banking Ombudsman Scheme The Banking Ombudsman Scheme (BOS) was notified by RBI in 1995 …
CBDT extends 157 adhoc appointment in the grade of Assistant Commissioner of Income Tax (ACIT) against the vacancy year 2014-15 CBDT extends 157 adhoc appointment in the grade of ACIT These adhoc appointments have been made subject to the condition that such appointments shall not confer any right …
Extension of last date of payment of December instalment of Advance Tax for FY 2019-20 in North Eastern States F.No.385/38/2019-IT(B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes***** North Block, New Delhithe 16th December, 2019 Order under Section 119(2) (a) of the Income-tax Act, 1961 – …
Presumptive tax u/s 44AE – No addition for cash deposit in bank made out of business receipts unless rebutted by cogent findings ABCAUS Case Law Citation:ABCAUS 3197 (2019) (12) ITAT Important case law relied upon by the parties:CIT vs. Nitin Soni (2012) 21 taxmann.com 477. The instant appeal …
Human probability is that truck drivers would insist for cash payment-ITAT deleted additions u/s 40A(3) for cash payments ABCAUS Case Law Citation:ABCAUS 3196 (2019) (12) ITAT The instant appeal was filed by the assessee against the order of the Commissioner of Income Tax in confirming the disallowance u/s …
IDS Scheme 2016 – Payment of tax/interest/penalty on undisclosed income may be made till 31.01.2020 MINISTRY OF FINANCE(Department of Revenue) Notification No. 103/2019 New Delhi, the 13th December, 2019 S.O. 4455(E).—In exercise of the powers conferred by the proviso to sub-section (1) of section 187 of the Finance …
The Taxation Laws (Amendment) Act 2019. Tax on income of certain domestic companies. The Taxation Laws ( Amendment ) Ordinance, 2019 repealed MINISTRY OF LAW AND JUSTICE(Legislative Department) New Delhi, the 12th December, 2019/Agrahayana 21, 1941 (Saka) The following Act of Parliament received the assent of the President …
Sabka Vishwas Legacy Dispute Resolution Scheme, 2019 – Clarifications in context of provisions of the Finance (No.2) Act, 2019 and Rules made there-under. Circular No. 1074/07/2019-CX F. No. 267/78/2019/CX-8-Pt.IIIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and Customs Dated, the 12th December, 2019 ToThe Principal …
CBDT promoted 97 Officers to the grade of Principal Commissioner of Income Tax (PCIT). Also, few transfers and assignment have also been made in the grade of PCIT.
National Financial Reporting Authority issues Audit Quality Review report of the statutory audit for 2017-18 of IL&FS Financial Services Limited As per MCA Press Release, the National Financial Reporting Authority (NFRA) has issued Audit Quality Review (AQR) report of the statutory audit for the year 2017-18 of IL&FS …