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Delegation of powers to Regional Directors for alteration of articles for conversion of public ltd company to private and different accounting year MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 18th December, 2018 S.O. 6225 (E).—In exercise of the powers conferred by section 458 of the Companies Act, …

Shri Arun Jaitley, Minister of Finance and Corporate Affairs has introduced the Companies (Amendment) Bill, 2018 (Bill No. 187 of 2018) in the Parliament to further to amend the Companies Act, 2013. The proposed Act shall be called the Companies (Amendment) Act, 2018 and shall be deemed to …

CBI has booked a Delhi based Chartered Accountant (CA) in a alleged Bribery case. A lady Income Tax Inspector has also been booked along with the said CA. A written complaint was made to the CBI alleging that that one Income Tax officer (ITO) at Delhi had issued …

CBDT authorizes CIT u/s 119(2)(b) to admit belated applications in Form No. 9A and Form No.10 in respect of AY 2016-17-Circular 7/2018 Circular No. 7 / 2018 F.No.197/55/2018-ITA-IGovernment of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes North Block, New Delhi20th December  , 2018 Sub: …

Prosecution 276C(2) – Evasion of tax vs evasion of payment of tax. High Court quashed prosecution when ITAT reduced income and there was no indifference on the part of assessee to pay demanded tax ABCAUS Case Law Citation:ABCAUS 2677 (2018) (12) HC Important Case Laws Cited/relied upon:Commissioner of …

Press Information Bureau Government of India New Delhi, December 19th 2018 DIPP Clarification on IT Notice to Angel Investors / Start-ups The Department of Industrial Policy & Promotion(DIPP) has taken notice of the news reports regarding issue of notices by Income Tax authorities to Angel Investors/Start-ups. DIPP in …

RBI launches December 2018 Round of Consumer Confidence Survey (CCS) and Inflation Expectations Survey of Households (IESH) The Reserve Bank of India has launched conducting Consumer Confidence Survey (CCS) and Inflation Expectations Survey of Households (IESH) for December 2018 round. While the CCS seeks qualitative responses from households, regarding …

Re-assessment order passed in violation of guidelines laid down by the Supreme court in the case of GKN Driveshaft Ltd. is bad in law- ITAT ABCAUS Case Law Citation:ABCAUS 2676 (2018) (12) ITAT Important Case Laws Cited/relied upon:GKN Driveshaft (India) Ltd. Vs ITO, 259 ITR 19 PCIT vs …

GSTN has started sharing data with tax authorities on the following: a. Mis-match between figures reported in GSTR-1 & GSTR-3B. b. Mis-match between figures reported GSTR-3B &that computed by the system in GSTR-2A. c.Taxpayers who have generated e-way bill but not filed tax returns GSTN has started work …

MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 88/2018 New Delhi, the 18th December, 2018 INCOME-TAX G.S.R. 1217(E).—In exercise of the powers conferred by sub-section (4) of section 286 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of …