Mandatory KYC of directors for DINs and fine-MCA Notifications As per MCA advisory for updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC which shall be notified and deployed shortly. Accordingly, every Director who has been allotted DIN on …

No disallowance u/s 40(a)(ia) when TDS deposited within extended time for ITR filing. Even otherwise over a period of two years effect is revenue neutral ABCAUS Case Law Citation: ABCAUS 2388 (2018) 06 ITAT The instant appeal was filed by the Revenue against the order of the Commissioner …

Appropriate use of Country by Country Reports CBDT has issued Instruction No. 2/2018 dated 27th June, 2018 on the use of CbC Reports by the Transfer Pricing Officer (TPO) during the TP audits. The purposes for which the reports shall be used and when their use shall be …

Cash loan from father to son for financial support not covered u/s 269SS. Repayment also not covered u/s 269T-Tribunal deletes penalty u/s 271D and 271E ABCAUS Case Law Citation: ABCAUS 2387 (2018) 06 ITAT Important Case Laws Cited/relied upon by the parties: Anant Himatsingk vs Addl. Commissioner of …

Grant of commendation certificate on the occasion of GST Day 2018 Central Board of Indirect Taxes and Customs has decided to grant Commendation Certificate on the occasion of GST Day-2018.  July 1st is expected to be celebrated as GST-Day to mark one year anniversary. As per the letter …

An undated confirmation letter cannot be rejected unless proved false. ITAT deletes addition made u/s 68/69 for cash deposits in bank account ABCAUS Case Law Citation: ABCAUS 2386 (2018) 06 ITAT The instant appeal was filed by the assessee against the order of the Commissioner of Income Tax …