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Depreciation allowed when asset was not used for a single day during the year due to seizure by bank for loan default – ITAT followed law settled by High Courts ABCAUS Case Law Citation ABCAUS 2367 (2018) 06 ITAT The instant appeal was preferred by the Income Tax Department …
ICAI Exposure Draft proposing amendments to eight Ind AS S. No. Exposure Draft 1. Annual Improvements to Ind AS 2018 Corresponding to Annual Improvements to IFRS Standards 2015–2017 Cycle issued by the IASB >> Standards amended are as under: Ind AS 103, Business Combinations Ind AS 111, Joint …
RBI Draft guidelines on Loan System for Delivery of Bank Credit-Minimum level of loan component and Effective date RBI had issued Statement on Developmental and Regulatory Policies issued on 5th April, 2018. The Statement set out various developmental and regulatory policy measures inter alia for strengthening regulation and supervision. …
Blind reliance on 26AS Statement to declare income or claim TDS puts you to the risk of income tax notice for concealment and demand for subsequent mismatch of income/TDS or both. I am sure, many of us would have witnessed persons who consider Government machinery as their accountant. …
DVO valuation of property occupied by tenants with court cases going under Rent Control Act set aside by the ITAT as the objections were dealt with by the DVO ABCAUS Case Law Citation ABCAUS 2366 (2018) 06 ITAT The instant appeal was preferred by the assessee against the …
Indian Valuation Standards 2018 issued by ICAI effective for the valuation reports issued on or after 1st July 2018. Indian Valuation Standards 2018 by ICAI The Council of the Institute of Chartered Accountants of India (ICAI) at its 375th meeting has issued the Valuation Standards which as claimed …
Mentioning PAN in place of TAN in TDS challan-Assessee should not be penalized or punished for technical mistakes when there is no loss to Revenue – ITAT ABCAUS Case Law Citation ABCAUS 2365 (2018) 06 ITAT The instant appeal was preferred by the Income Tax Officer (ITO/Assessing Officer) …
Lateral Recruitment of 10 outstanding individuals as joint secretary in GoI. Even Non IAS Persons with expertise are qualified. Last Date 30th July 2018. INVITATION OF APPLICATIONS FOR SENIOR POSITIONS IN GOVERNMENT OF INDIA Lateral Recruitment to Senior Positions in Government of India by Department Of Personnel And Training Invitation …
RBI penalty for clerical mistakes not disallowable u/s 37. The genuine clerical mistake cannot be treated as an offense under the Banking Regulations Act – ITAT ABCAUS Case Law Citation ABCAUS 2364 (2018) 06 ITAT The instant appeal was preferred by the assessee against the order of the …
List of Standards on Auditing applicable for audits of FY 2017-18 and 2018-19 and onwards Under the provisions of the Companies Act 2013, it is mandatory for auditors of companies to comply with the Standards on Auditing (SAs) issued by the Institutes of Chartered Accountants of India (ICAI). Auditors …