• Aug
  • 01
  • 2014

Rajya Sabha clears Finance Bill 2014

Added In Income Tax
Finance bill 2014 Final was presented by Finance Minister Shri Arun Jaitley on 10th July 2014. The bill got approval of Lok Sabha on25th July 2014 with some amendments.  Now Rajya Sabha has cleared the Finance Bill 2014 on 31st July 2014. Finance Bill will comes into effect after President Approves it. So now bill […]

Read the Full Article

  • Aug
  • 01
  • 2014

ICAI invites suggestions on revised formats of Form Nos. 3CA, 3CB and 3CD

Added In Income Tax
The Central Board of Direct Taxes has through, Income-tax (7th Amendment) Rules, 2014, notified new Forms of tax audit reports namely Form No. 3CA, 3CB and 3CD.The said notification can be downloaded from the link below: http://taxguru.in/income-tax/cbdt-notifies-form-3ca-3cb-3cd-format-tax-audit-report-revised.html With regard to the same, ICAI invites suggestions on the said new tax audit report formats, from the […]

Read the Full Article

  • Aug
  • 01
  • 2014

ICAI President’s Message – August 2014

Added In CA CS ICWA
This year’s Budget is quite progressive and will spur investment-led sustainable and inclusive growth. This Budget has made commitment for the next generation of tax reforms, stability of tax regime and fiscal consolidation. The announcement regarding retrospective amendments would facilitate a healthy investment climate in India.

Read the Full Article

  • Aug
  • 01
  • 2014

Deputation of employees on cost-sharing basis does not fall under Supply of Manpower Services

Added In Service Tax
We are sharing with you an important judgment of the Hon’ble High Court of Gujarat in the case of Commissioner of Service Tax Vs. Arvind Mills Ltd. [(2014) 45 taxmann.com 376 (Gujarat)] on the following issue: Issue: Whether the deputation of employees to subsidiary companies for limited period on cost-sharing basis covered under Manpower Recruitment […]

Read the Full Article

  • Aug
  • 01
  • 2014

Applicability of provisions of section 139(5) & 139(7) of Companies Act, 2013 -Clarification

Added In Company Law
General Circular No. 33/2014- Dated: 31st July, 2014 Subject: Clarification with regard to applicability of provisions of section 139(5) and 139(7) of the Companies Act, 2013 Doubts have been raised about applicability of sections 139(5) and 139(7) of the Companies Act, 2013 (New Act), which deal with appointment of auditors by Comptroller and Auditor General […]

Read the Full Article

  • Aug
  • 01
  • 2014

Acquisition & Transfer of Immovable Property in India by Foreign Nationals – Clarification

Added In RBI / FEMA
It has come to notice of the Central Government that foreign nationals are buying immovable property illegally in some parts of the country. Many organizations and social groups have also made representations to the Central Government expressing their serious concerns in this regard. It has also been observed that foreign nationals coming to India and […]

Read the Full Article

  • Jul
  • 31
  • 2014

Salman Khan Gets relief in Penalty case – No Penalty if two views possible

Salman Khan Vs. ACIT (ITAT Mumbai) Assessee (Salman Khan) in the present case is a leading film actor who derives income from profession of acting and advertisement assignments. The returns of income for both the years under consideration i.e assessment years 2003-04  & 2004-05 were filed by him on 28-11-2003 and 29-10-2004 declaring total income […]

Read the Full Article

  • Jul
  • 31
  • 2014

Solution to Problems in Registering DSC and signing ITR

Added In Income Tax
While Registering Digital Signature Certificate , Uploading of XML File and Signing of XML file on Income Tax E-filing websites we faces various problems. In this article we have listed out such problems which are mainly related to use of digital signature while registering and while signing the ITR.

Read the Full Article

  • Jul
  • 31
  • 2014

Solution to Problems in accessing income tax e-filing website

Added In Income Tax
 Trouble Shooting Guide for Problems in accessing www.incometaxindiaefiling.gov.in Issue -Internet service from ISP (internet service provider) is not available or failing intermittently.                         Resolution- The call centre of ISP needs to be contacted for resolving this issue. Issue – The      internet connection is   working,  other websites  are opening properly but incometaxindiaefiling.gov.in not opening properly.                Resolution- You […]

Read the Full Article