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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 …
Disallowance u/s 40A(3) for cash payment to BSNL deleted as BSNL is a State and payments were made for business expediency and were not doubted – ITAT ABCAUS Case Law Citation: ABCAUS 2231 (2018) (03) ITAT Section 40A(3) of the Income Tax Act, 1961 (the Act) puts an …
Concealment penalty u/s 271(1)(c) deleted on humanitarian grounds as the assessee had died, his business was closed and his widow was depositing the quantum demand-ITAT ABCAUS Case Law Citation: ABCAUS 2230 (2018) (03) ITAT The appellant assessee was aggrieved by the order of the CIT(A) in confirming the …
No scope for imposing penalty u/s 271A in the case of Civil Contractor which is covered u/s 44AA(2) and is not carrying on any specified profession – ITAT ABCAUS Case Law Citation: ABCAUS 2229 (2018) (03) ITAT Prelude: Section 44AA if the Income Tax Act, 1961 provides for …
Companies required to follow IndAS to report Abridged Financial Statements in AOC3A. Companies (Accounts) Amendment Rules 2018. MCA Notification Ministry of Corporate Affairs (MCA) has issued Notification amending the Companies (Accounts) Rules, 2014 by Companies (Accounts) Amendment Rules, 2018. Section 136 of the Companies Act, 2013 provides for …
Clarifications regarding GST in respect of certain services-CBEC Circular CBEC has issued Clarifications regarding GST in respect of certain services . The clarification has been issued with regard to the following issues as approved by the Fitment Committee to the GST Council in its meeting held on 9th …
The Substantial reduction in mandatory documents required for import & export-CBEC The Central Board of Excise and Customs (CBEC) has reduced the mandatory documents for imports and exports. As per an advisory issued by the Board, the following changes have been implemented: 1. only three documents mandatory for general …
