Latest Update

Circular

DELHI HC

Delhi HC recalled ‘Look Out Circular’ issued against CA

Delhi HC recalled ‘Look Out Circular’ issued against CA as he co-operated in proceedings initiated...

compliance calender for the month of February Inbox

  compliance calender for the month of February Inbox  

Empanelment of Chartered Accountant firms/LLPs for the year 2020-2021

Empanelment of Chartered Accountant firms/LLPs for the year 2020-2021    

Introduction of a new type of semi-closed Prepaid Payment Instrument (PPI) – PPIs upto ₹ 10,000/- with loading only from bank account

Introduction of a new type of semi-closed Prepaid Payment Instrument (PPI) – PPIs upto ₹ 10,000/- with...

Standard Operating Procedure to be followed in case of non-filers of returns – reg

Standard Operating Procedure to be followed in case of non-filers of returns – reg

IT Judgement

148

Interesting Judgment : Statement recorded during survey u/s 133A are not conclusive piece of evidence by itself for reassessment u/s 148

Income Tax Act, 1961, Section 148 Reassessment---Reason to believe---Statement recorded under section 133A---No other tangible evidence Conclusion: The...

Interest received on advances is a Business Income or Income from Other Source?

Interest received on advances is a Business Income or Income from Other Source? Short Overview : Since...

Relief u/s 54 i.e Exemption out of ‘LTCG’ earned on sale of Residential House Property can be claimed by the Assessee father where new...

  Relief u/s 54 i.e Exemption out of 'LTCG' earned on sale of Residential House Property...

GST: Allowability of Input tax credit on Supply of medicines used to provide medical facilities to employees and pensioners in hospital

  GST: Allowability of Input tax credit on Supply of medicines used to provide medical facilities...

Interesting case: Disallowance under section 14A for Expenditure against exempt income if No dividend income is not claimed as exempt by assessee

  Interesting case: Disallowance under section 14A for Expenditure against exempt income if No dividend income...

Notification

income tax

March Ending Compliances :- Change of Financial Year From 31st March to 30th April 2020 or 31st December 2020 OR Simple Date Extension by...

Relief from Tax due date compliance before 31st March 2020- An appeal to the Finance...
INCOME TAX

Income Tax Officers Association appealed for extending the financial year closure date from 31st March 2020 to 30th April 2020

  Income Tax Officers Association  appealed for extending the financial year closure date from 31st March...
CBDT

CBDT condones delay in filing Income Tax return & Form No. 9 & 10 by Trust for AY 2016-17 onwards

CBDT condones delay in filing Income Tax return & Form No. 9 & 10 by...

Link PAN with Aadhar before your PAN becomes Inoperative

Link PAN with Aadhar before your PAN becomes Inoperative If PAN is not linked with Aadhar...

Revised All Industry Rates of Duty Drawback

Revised All Industry Rates of Duty Drawback

Press release

investment

An Online Investment Options to Save Tax before 31st March

Though, the due date for investment in the LIC/PPF/NSC for claiming deduction under section is...
Deduction 80C

Now, You can invest till 30th Jun for claiming deduction u/s 80C

Now, You can invest till 30th Jun for claiming deduction u/s 80C A special onetime benefit is...

Whether TDS under GST is attracted on exempted supply?

Whether TDS under GST is attracted on exempted supply? The TDS Notifications bring into force section...

GST Audit of Tour and Travels: key Issues

GST Audit of Tour and Travels: key Issues After completion of lockdown in the country, we,...

GST Issues on Transaction between Employer and Employee

GST Issues on Transaction between Employer and Employee Whether all the transactions between employer and employee...