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Procedure for Scrutiny assessment of Startup Companies on application of section 56(2)(viib). Clarification by CBDT Circular No. 16/2019 Government of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes North-Block, New Delhi, dated the 7th of August,2019 Subject:- Clarification with respect to assessment of Startup Companies …
Launch of ITBA Refund Banker Module-Refund Blocking/ Unblocking and Revalidation Functions ITBA- Refund Banker Instruction No.1 DIRECTORATE OF INCOME TAX (SYSTEM) ARA Center, Ground Floor, E-2, Jhandewalan Extension, New Delhi -110055 F.N Pr DGIT(S)/ADG(S)2/Sign ff-OLTAS ITBA/173/2017 Dated: 07.08.2019 To All Principal Chief Commissioners of Income-tax/ CCsIT (By Name) …
Reopening for not replying to invalid and non est inquiry letter for cash deposited in bank quashed. Deposit per se cannot be income of assessee. ABCAUS Case Law Citation:ABCAUS 3106 (2019) (08) ITAT Important case law relied upon by the parties:Tajendra Kumar Ghai Vs ITO In the instant …
Addition u/s 69B for difference in stock from statement given to Bank deleted as in preceding year it was deleted following High Court judgment ABCAUS Case Law Citation:ABCAUS 3105 (2019) (08) ITAT Important case law relied upon by the parties:CIT vs. Sidhu Rice & General Mills, 281 ITR …
Facility of e-Verification (EVC) of Return (ITR) without login enabled at e-filing portal Income Tax e-filing website has launched ‘e-Verify Return’ for e-Verification of ITR without login. This facility can be accessed by clicking ‘e-Verify Return‘ button in home page under ‘Quick Links’. Steps to verify return (EVC) …
ICSI Request for inclusion of Company Secretary in the Definition of “Accountant” given under Explanation to Section 288(2) of the Income Tax Act, 1961 After the representation of The Institute of Cost Accountants of India last month, the ICSI has also demanding that company secretaries be included in …
The Company Secretaries (Amendment) Regulations 2019. ICSI invites suggestions on draft regulations MINISTRY OF CORPORATE AFFAIRS(THE INSTITUTE OF COMPANY SECRETARIES OF INDIA)(Constituted under the Company Secretaries Act, 1980) NOTIFICATION New Delhi, the 6th August, 2019 No. 710/1(M)/1.—The following draft of certain regulations, further to amend the Company Secretaries …
IBBI issues CPE guidelines for Insolvency Professionals. Minimum 10 hours each and 60 hours in three calendar years prescribed Insolvency and Bankruptcy Board of India 6th August, 2019 Insolvency and Bankruptcy Board of India (Continuing Professional Education for Insolvency Professionals) Guidelines, 2019 1. Short title and commencement (a) …
No Penalty u/s 271(1)(c) for mere disallowance in quantum proceedings in the absence of any falsity in the explanation offered ABCAUS Case Law Citation:ABCAUS 3104 (2019) (08) ITAT Important case law relied upon by the parties:CIT vs. Reliance Petro Products Pvt. Limited (322 ITR 158) (sc)Price Waterhouse Coopers …
Assessee is eligible for the deduction of the amount embezzled by the employee as a trading loss u/s 28 of the Income Tax Act ABCAUS Case Law Citation:ABCAUS 3103 (2019) (08) ITAT Important case law relied upon by the parties:Dinesh Mills Ltd. 254 ITR 673 The appeal had …
