Giving Scrip wise details of long term capital gains in Schedule 112A of ITR is optional – CBDT clarification As per advisory hosted at income tax e-filing website, Schedule 112A and 115AD(1)(iii) of long term capital gain are provided in the Income Tax Return software as per the …

SEBI amends formats for limited review / audit report of the listed entity due to revision of SA 700 and other suggestions given by ICAI Procedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed …

Reopening due to change in method of accounting for NPA quashed as it was notified in audited accounts. SC dismissed SLP of Revenue ABCAUS Case Law Citation:ABCAUS 3069 (2019) (07) SC The Assessing Officer (AO) had initiated re-assessment proceedings against the respondent bank under Section 147 read with …

ICMAI representation for inclusion of “Cost Accountant” u/s 288 of Income Tax Act to allow tax audit by cost accountant Tax audit by cost accountant The Institute of Cost Accountants of India representation for modification of definition of “Accountant” u/s 288 of the Income Tax Act, 1961 to …

Corporate membership of club of Managing Director (MD) of the company allowed as incurred wholly and exclusively for the purpose of business of the assessee company  ABCAUS Case Law Citation:ABCAUS 3068 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Ankit Metal & Power Ltd vs Addl …

SEBI proposes strict norms for resignation of Statutory Auditors from listed entities SEBI consultative paper on policy proposals with respect to resignation of Statutory Auditors from listed entities Securities and Exchange Board of India A. Background and rationale for review 1. There have been a significant number of …