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CBDT extends last date for linking PAN & Aadhaar from 30th September, 2019 to 31st December, 2019. CBDT Notification Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes NOTIFICATION New Delhi, the 28th September, 2019 S.O ……….. (E).- In exercise of the powers conferred under sub-section …
Empanelment of CAs for office of Official Liquidator, Gujarat High Court EMPANELMENT NOTICE Application for Empanelment of Chartered Accountants for the office of the Official Liquidator, High Court of Gujarat The Background:The Official Liquidator (OL) had sought permission of the Hon’ble High Court of Gujarat for the payment …
Penalty u/s 271(1)(c) on disallowance of notional interest on debit balances in capital account of some of the partners deleted as in totality, partners capital had net credit balance. ABCAUS Case Law Citation:ABCAUS 3158 (2019) (09) ITAT In the instant case, the appeal was filed by the assessee …
CBDT has extended ITR filing and Tax Audit due date to 31.10.2019 CBDT has extended the ITR and Tax Audit Report filing due date for AY 2019-20 from 30.09.2019 to 31.10.2019 in respect of all the assessees whose accounts are required to be audited. However interest u/s 234A …
No penalty can be imposed u/s 271(1)(c) on preponderance of probabilities and Revenue has to prove that claim of expenses was not genuine or was inflated to reduce its tax liability ABCAUS Case Law Citation:ABCAUS 3157 (2019) (09) ITAT Important case law relied upon by the parties:Hindustan Steel …
Guidelines for conduct of assessment proceedings through ‘E-Proceeding’ facility during FY 2019-20. Exceptions, personal attendance and hearings Circular No. 27/2019 Government of India Ministry of FinanceDepartment of Revenue (CBDT) New Delhi, the 26th of September, 2019 Subject: Conduct of assessment proceedings through ‘E-Proceeding’ facility during financial year 2019-20-regd. …
Further Extension of timeline for completing assessments in Operation Clean Money cases where no return filed in response to notice u/s.142(1) and assessment has to be completed u/s 144 CBDT earlier extended the time-line for completion of assessments u/s 144 of the Act in OCM cases where no …
CBDT FAQs on ITR filing-Shareholding Schedule SH-1, Assets & Liabilities (AL) , Tax at MMR in ITR-5 and Corpus donation in ITR-7 etc. Circular 26/2019 CBDT FAQs on ITR filing Circular No. 26 of 2019 F. No. 370142/1/2019-TPL (Pt.-1)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct …
Position Limits in Interest Rate Derivatives. Category-wise position limits for 4-8 and 8-11 years bucket Securities & Exchange Board of India CIRCULAR SEBI/HO/MRD/CIR/P/2019/103 September 26, 2019 All Recognized Stock Exchanges All Recognized Clearing Corporations Dear Sir / Madam Position Limits in Interest Rate Derivatives (IRD) SEBI vide circulars …
Even in best judgment assessment, AO is required to look into surrounding circumstances, nature of expenditure claimed by other assessees in similar line of business ABCAUS Case Law Citation:ABCAUS 3156 (2019) (09) ITAT Even best judgment assessment AO required look into surrounding circumstances In the instant case, appeal …