Author: administrator
NFRA to have power to impose penalty on audit firms The Chartered Accountants Act, 1949 (Act) provides for imposition of punishment/penalties on members of the Institute of Charted Accountants of India (ICAI) if found guilty of misc-conduct. Also, as per section 132(4) of the Companies Act, 2013, the …
199 companies face penalty for non-compliance of CSR norms. No proposal to review the state of implementation of the Companies Act related to CSR Section 135 of the Companies Act, 2013 mandates for expenditure on Corporate Social Responsibility (CSR). Further Section 134 provides that the Board’s Report …
The assessee entitled to claim deduction u/s 80HH with respect for profits derived from processing of cashew in the factories owned by outsiders – High Court ABCAUS Case Law Citation: ABCAUS 2234 (2018) (03) HC The respondent assessee had been carrying on processing of cashew nuts in owned …
Initiatives by Indian Customs for reduction in transaction cost CBEC in its latest advisory has listed out the followingh initiatives taken for reduction of transaction costs. Relaxation for cargo service Providers to take insurance cover for goods stored in customs area for 10 days instead of 30 days. Merchant …
ITAT rejected cash flow statement for no household drawings made. Addition u/s 68 sustained for estimated amount of household drawings ABCAUS Case Law Citation: ABCAUS 2233 (2018) (03) ITAT The appellant assessee was aggrieved by the order of the Commissioner of Income Tax (Appeals) sustaining the addition made …
GST on services between JV and its members-Clarification. Taxability of services provided by the members of JV to the JV and vice versa and inter se between the members of the JV CBEC has issued Circular No. 35/9/2018-GST on the issue of taxability of services between JV and its …
Govt. constitutes Steering Committee on Fintech related issues The Government has constituted a Steering Committee on Fintech related issues to consider various issues relating to development of Fintech space in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship in an area …
Do you have a Permanent Account Number (PAN) ? Income Tax Advisory Income Tax Department has issued a latest video advisory to all citizens explaining the importance of PAN and its requirement for various transactions/expenditures. The video shows a young women is about to start her career by registering …
IEPF contest to select Tagline is online now Investor Education and Protection Fund (IEPF) is organising a contest to select the Tagline for “Investor Education and Protection Fund” Authority The contest is now live at https://www.mygov.in The contest seeks entries to select a Tagline for “Investor Education and Protection Fund” …
Section 50C not applicable to cold storage building so to substitute actual sale consideration by deemed sale consideration and order of AO cannot be revised u/s 263 – ITAT ABCAUS Case Law Citation: ABCAUS 2232 (2018) (03) ITAT The assessee was aggrieved by the order passed under section …
