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RBI releases the Report of the Committee on the Development of Housing Finance Securitisation Market Date : Sep 09, 2019 The Reserve Bank of India had constituted a Committee on the Development of Housing Finance Securitisation Market, on May 29, 2019, with Dr. Harsh Vardhan, Senior Advisor, Bain & Co. …
ICAI Advisory on Auditor’s Reporting on directors remuneration u/s 197(16) of the Companies Act 2013 ICAI has issued an advisory for chartered accountants for Auditor’s Reporting requirement on directors remuneration u/s 197(16) of the Companies Act 2013. The advisory issued is as under: Advisory on Auditor’s Reporting on …
Prosecution u/s 276B set aside as intention of company was to deposit TDS, but due to bad financial condition the same was not deposited in time but later on In a recent judgment, The Session Judge set aside the prosecution u/s 276B and sentence of Rs. 25 lakhs …
CBDT amends Income Tax Rules / Form 56/10G regarding application for exemption u/s 10(23C) and 80G. Read CBDT Notification MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 60/2019-Income Tax New Delhi, the 5th September, 2019 S.O. 3215(E).—In exercise of the powers conferred by the first …
Interest awarded in motor accident claim cases from the date of the Claim Petition till passing of award/judgment not taxable, being not an income. ABCAUS Case Law Citation:ABCAUS 3142 (2019) (09) HC Important case law relied upon by the parties:Rama Bai and ors. vs. Commissioner of Income Tax, …
Revised AoC-4 Non-XBRL form due to amendment of Schedule III of CA 2013 to be available soon without additional fee-MCA Advisory The Central Government has made further amendments to Schedule III to the Companies Act, 2013 vide Notification dated 11th October 2018. As per the said notification, Division …
Principles of law and legal position regarding exercise of revisionary powers u/s 263. ITAT explains the twin conditions as laid down by Supreme Court/ High Courts ABCAUS Case Law Citation:ABCAUS 3141 (2019) (09) ITAT Important case law relied upon by the parties:Malabar Industrial Co. Ltd. vs. CIT, 243 …
Reopening for escaped FDR income upheld when in original assessment profits was estimated only on contract income ignoring interest income ABCAUS Case Law Citation:ABCAUS 3140 (2019) (09) ITAT Important case law relied upon by the parties:ACIT vs. Rajesh Jhaveri Stock Brokers P. Ltd.’ 2007 291 ITR 500Raymond Woolen …
CBDT may direct filing departmental appeals in exception to monetary limits in organised tax evasion activity. Circular No. 23 of 2019 F, No . 279/Misc./M-93/2018-ITJ (Pt.)Government of India Ministry of Finance Department of Revenue Central Board Direct Taxes Judicial Section New Delhi, 6th September 2019 Subject: -Exception to monetary …
Penalty u/s 271E deleted in the absence of proof /receipt acknowledging the repayment of loan in cash by the assessee. ABCAUS Case Law Citation:ABCAUS 3139 (2019) (09) ITAT In the instant case, the assessee had filed appeal against the order of the CIT(A) whereby he had confirmed levy …
