Cabinet approves Mutual Recognition Agreement between the Institute of Chartered Accountants of India and the South African Institute of Chartered Accountants  Mutual Recognition Agreement between the ICAI and SAICA The Union Cabinet chaired by Prime Minister Shri Narendra Modi has has approved the Mutual Recognition Agreement between the Institute …

Cabinet approves Doubling of Investment Limit for Senior Citizens from Rs. 7.5 lakh to Rs.15 lakh under Pradhan Mantri Vaya Vandan Yojana (PMVVY)  Enables upto Rs. 10000 Pension per month for Senior Citizens Time limit for subscription under PMVVY extended from 4th May, 2018 to 31st March, 2020 …

Competition Commission of India has passed imposing penalty on six firms for bid rigging in five tenders floated by Pune Municipal Corporation  Lesser Penalty Provisions aid CCI to bust cartel in tenders of Pune Municipal Corporation  As per Press Release of MCA, the Competition Commission of India (CCI) …

Cash surrendered during survey and added to WIP can not be disallowed u/s 68 as income was already declared in Trading account and it was a balancing entry-ITAT The appellant assessee had filed the instant appeal against the order of the CIT(A) contending that the Authorities below erred …

CBI arrests four deputy commissioners & one superintendent, all of customs departments and a private person in an alleged bribery case Press Release New Delhi, 01.05.2018 The Central Bureau of Investigation has arrested four Deputy Commissioners and one Superintendent, all from Customs Department, Mumbai and a private person …

Unrealised Interest on NPA Accounts not taxable notionally on accrual basis. AO has to follow the RBI Directions under section 45Q of RBI Act as held by Supreme Court The appellant Revenue had filed the instant appeal against the order of the Income Tax Appellate Tribunal (ITAT) in holding …