Verification of High Value Suspicious IDS 2016 Declarations by Abdul Razzaque with declaration Rs. 2 lakh crores suspicious in nature-Press Release  Ministry of Finance 04-December, 2016 Verification of High Value Suspicious Declarations made under the IDS 2016 An Income Declaration Scheme (IDS) was announced in the Union Budget …

Penalty initiated for concealment levied for inaccurate particulars and concealment both is invalid. AO must frame a precise charge u/s 271(1)(c)-ITAT ABCAUS Case Law Citation: ABCAUS 1073 (2016) (12) ITAT Assessment Year: 2009-10 Date of Judgment: 29-11-2016 Important Case Laws cited: Zoom Communications P Ltd 327 ITR 510 …

GUIDANCE NOTE ON FATCA and CRS updated 30-11-2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Foreign Tax & Tax Research Division Guidance Note on Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) updated as on 30th November 2016 Purpose of …

Misuse of Jan-Dhan Accounts post demonetisation. Among rumors of freezing of JDY accounts, CBDT wanrns such account holders not to consent to deposit of undisclosed money in their accounts Ministry of Finance 04-December, 2016 Tax Investigations unearth mis-use of Jan-Dhan Accounts; Account holders once again urged by CBDT not to …

Sales incomplete till goods delivery unless insurable risk passes to buyer. FOR destination basis sales invoice reversal for goods in transit at the year end valid-ITAT ABCAUS Case Law Citation: ABCAUS 1072 (2016) (12) ITAT Assessment Year: 2011-12 Date of Judgment: 29-11-2016 Important Case Laws cited: Morvi Industries …

ICAI online duplicate mark sheets-pass certificates application-Fees payable and download format of the affidavit for this online facility  ICAI Announcement 02nd December 2016 Introduction of the facility of on-line submission of requests for issue of duplicate mark sheets/pass certificates. An on-line facility for submission of requests for issue …