Application for registration u/s 12A to be made electronically by charitable or religious trusts,. More information required in revised Form 10A-CBDT Notification CBDT vide Notification No. 10/2018 dated 19th February, 2018, has amended the Rule 17A which provides for submission of Form-No. 10A and required documents to be …

CBDT notifies Centralised Communication Scheme 2018 u/s 133C for calling information from any person for verification of information The Finance Act, 2014 (2 of 2014) had inserted section 133C w.e.f. 01-10-2014 which supplemented by Rule 12D provides that prescribed Income Tax Authority for verification of an information may …

Deduction for Penal excise was allowed u/s 37 as it was paid in discharging contractual obligation to indemnify department for violating terms of affidavit ABCAUS Case Law Citation: ABCAUS 2222 (2018) (02) HC The respondent assessee was engaged in the business of manufacturing and its sale. An intending …

Refund of IGST on Export– Invoice mis-match Cases. Alternative Mechanism with Officer Interface CBEC vide Circular No. 05/2018-Customs dated 23rd February, 2018, recognising that invoice mis-match has been the major reason why the IGST refunds have been held, has provided an alternative mechanism to give exporters an opportunity …

Settle mismatched IGST refunds focus on recoverable arrears. CBEC Chief admits that number of IGST refunds are stuck due to invoice/other mismatch The Chairman, Central Board of Excise and Customs in its latest communication dated 23rd February, 2018 inter alia acknowledged that number of IGST refunds are stuck due to invoice mismatch …

Reserve Bank introduces Ombudsman Scheme for Non-Banking Financial Companies As announced in the Monetary Policy Statement of February 7, 2018, the Reserve Bank of India has launched the Ombudsman Scheme for Non-Banking Financial Companies (NBFC) for redressal of complaints against NBFCs registered with RBI under Section 45-IA of the …