CIT vs. Reliance Industries Ltd (Supreme Court)- Having heard learned counsel on both sides, we are of the view that the High Court ought not to have dismissed the appeal without considering the following questions, which, according to us, did arise for consideration. They are formulated as under: “(A) Whether on the facts and in the circumstances of the case and in law the Hon’ble Tribunal was right in holding that estimated expenditure for earning dividend income cannot be subject to disallowance while computing book profits as well as under the normal provisions of the Income tax Act?
CIT Vs. East India Syntex Limited (Delhi High Court)- It is not in dispute that the entries were made contemporaneously when the expenditure was incurred between September, 1997 and December 1997. Therefore, though the search was in September, 1998, it cannot be denied that the entries had been made in the books of accounts by that time. This is what the CIT (A) has noted in para 27 of his order by saying that the case of the AO is not that these were not made in the regular books of account.
It gives me immense pleasure to inform you that for the first time in India, two pioneers of Commerce and Accountancy education namely the Institute of Chartered Accountants of India (ICAI) and University of Madras have joined hands by entering into an MoU to promote commerce education to the highest level and to contribute towards nation building.
The following are the prerequisites for furnishing a correction TDS/TCS statement: check the status of the regular statement on the TIN website by entering the TAN and PRN at https://onlineservices.tin.nsdl.com/TIN/JSP/tds/linktoUnAuthorizedInput.jsp Correction statement should be prepared only if the corresponding regular statement has been accepted at the TIN central system.
You forgot your date of birth, which you written while submitting the Application with Income Tax Department and neither having a copy of PAN card to know your date of birth as per Income Tax Department Database. Is there a way to find date of birth online? No, there is no direct way to know your date of birth as per Income Tax records.
Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any “person” who applies for it or to whom the department allots the number without an application.
Download Updated NSC Interest Rate Calculator in excel format which calculates NSC Interest for all the years. We just have to input the period in which investment is made and year for which we want to know the interest amount. As You all is aware that Government has recently introduced 10 year NSC instead of earlier six year NSC and rate of interest also been changed upward. In view of the changes in NSC Period and interest rate vide Notification [F.No. 1-13/2011-NS-ii], dated 29-11-2011 , we have prepared a new calculator and uploaded the same for your reference.
KRA shall cause an audit of its controls, systems, procedures and safeguards to be carried out periodically and take corrective actions for deficiencies, if any and report to Board.
The Reserve Bank of India on Friday directed primary urban cooperative banks not to make payments on cheques and other financial instruments that are over three months old, with effect from April next year. RBI directs that with effect from April 1, 2012, banks should not make payment of cheques/drafts/pay orders/banker’s cheques bearing that date or any subsequent date if they are presented beyond the period of three months from the date of such instrument, the Reserve Bank (RBI) said in a circular to all primary urban cooperative banks.
The Central Bureau of Investigation (CBI) on Wednesday issued a notice to Dr Reddy’s Laboratories seeking details of the tax benefits it had availed during the reign of N Chandrababu Naidu as chief minister in Andhra Pradesh.
