No change in MSMEs classification for three years in case of change in investment in plant & machinery or turnover etc.
Ministry of Micro Small and medium Enterprises have issued a notification relaxing the provisions for classification of MSMEs in case of change in terms of investment in plant and machinery or equipment or turnover etc.
It has been provided that in case of an upward change in terms of investment in plant and machinery or equipment or turnover or both, and consequent re-classification, an enterprise shall continue to avail of all non-tax benefits of the category (micro or small or medium) it was in before the re-classification, for a period of three years from the date of such upward change.
CBDT amends Income Tax Rules 114F 114G and 114H related to reporting financial institutions and their obligations CBDT has by…
AO stating that material forming basis of reopening shall be disclosed at the stage of assessment/re-assessment, indicates that the AO…
Reopening conclusion that assessee was “Non-Filer” despite assessee clearly stating in reply that he had filed ITR was non-application of…
High Court declined to allow production of physical documents by in Faceless Assessment simply because they were voluminous In a…
The prima facie satisfaction u/s 148 cannot be stretched to a non-existing information or incorrect information - ITAT In a…
Mutual Funds to value physical Gold and Silver by using the polled spot prices published by the recognized stock exchanges…