RBI Simplifies-Rationalise New NBFCs Registration Process Reserve Bank of India Press Release Dated 17th June, 2016 RBI decides to simplify and rationalise the process of registration of new NBFCs In order to make the process of registration of new NBFCs smoother and hassle free, the application form for …
Foreign exchange fluctuation loss event occurring before balance-sheet date. If the event has occurred before the balance-sheet date and a subsequent event materially affects the profits, then the same has to be provided in the balance-sheet which is finalized after the closing of the year. This was held …
Order passed on deceased person name without bringing legal heirs on record null and void. This was held by ITAT in a recent judgment. ABCAUS Case Law Citation: 947 2016 (06) ITAT Assessment Year: 2008-09 Date of Judgment: June 2016 Brief Facts of the Case: During the course …
W.e.f. June 1, 2016, the e-TDS/TCS, Form 24G and Annual Information (AIR) acceptance fees have been revised as under: 1. Statements having up to 100 records:- 44.00 (inclusive of service tax) 2. Statements having 101 to 1000 records:- 205.00 (inclusive of service tax) 3. Statements having more than …
Deduction us 80IA-Notional brought forward of losses even when it were set off against income of the assessee in earlier years not allowed. This was held by ITAT in a recent judgment as under. ABCAUS Case Law Citation: 946 2016 (06) ITAT Date of Judgment – June, 2016 …
Disallowance us 361iii for bank interest on unutilized loan In a recent judgment, ITAT held that once the Assessing Officer satisfied with the nature of loan being of business in nature then no disallowance u/s 36(1)(iii) was called just for keeping the funds unutilized at the end of the …
