Enhancing Tax Transparency on Foreign Assets & Income: Understanding CRS & FATCA CBDT has issued a guidance note on Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA) along with a Step-by -Step Guide to fill FSI, TR and FA Schedule in ITR Purpose of CRS and …

Compensation received by the assessee from the builder for cancelling the allotment of flat for delay not chargeable to tax being in the nature of capital receipt.  In a recent judgment, ITAT Delhi has held that compensation received by the assessee from the builder for cancelling the allotment …

FCRA has issued illustrative list of section wise reasons of denial/refusal of applications of FCRA Registration & Renewal.  Applications for grant of Registration and Renewal received from the applicants are processed under the provisions of the Foreign Contribution (Regulation) Act, 2010 (FCRA 2010) and/or the Foreign Contribution (Regulation) …

No deemed dividend u/s 2(22)(e) if funds not utilized for the benefit of the substantial shareholder – ITAT In a recent judgment, ITAT Hyderabad has deleted the addition as deemed dividend u/s 2(22)(e) holding that the payments made by the company had been used for the business purposes …

Rules for recruitment of Company Prosecutor in Ministry of Corporate Affairs MCA has notified the Ministry of Corporate Affairs, Company Prosecutor, Group ‘B’, Gazetted Posts Recruitment Rules, 2024 regulating the method of recruitment to the posts of Company Prosecutor, in the offices of the Ministry of Corporate Affairs. …

Revision u/s 263 was correct as AO did not conduct any enquiry to verify if land sold was beyond prescribed Municipal Limits – High Court. In a recent judgment, Hon’ble Delhi High Court held that the assessment order passed by the Assessing Officer (AO) was erroneous in so …