ICAI has vide its press release dated 10th September 2014 proposed amendments to The Chartered Accountants Regulations, 1988 vide Draft Chartered Accountants (Amendment) Regulations, 2014. Vide this it has proposed the Amendments in Regulations 28E, 39, 48 and 204 of the Chartered Accountants Regulations, 1988.
M/s Pransukhlal Bros. v. ITO (Bombay High Court) , ITA WP Lodging no. 2124 of 2014 dt. 20/8/2014 In this case, we find that the order disposing of the objections refers to and relies upon investigation carried out by Sales Tax department, the information put up by Sales Tax department on it’s website and the affidavit cum- declaration filed by the defaulting parties with the Sales Tax authorities.
Please find enclosed a press release issued by Central Board of Excise and Customs giving details of indirect tax revenue (provisional) collections during April-August 2014, along with growth rate over previous year.
In the instant case, the assessee is a charitable trust registered u/s. 12AA of the Act. The assessee trust paid remuneration of Rs 4,80,000/- to Shri Anantbhai K. Shah who is a full time secretary and trustee of the assessee trust.
It is hereby informed that Sections 407 to 414 of the Companies Act, 2013 relating to NCLT and NCLAT (notified on 12th September, 2013) formed part of the syllabus of the abovementioned paper as applicable for November, 2014 examinations. Consequently, the said sections were also incorporated in, Para 1.19 of Unit 1 from Page Nos. 22 to 26 of the Supplementary Study paper prepared for the said examinations.
Background Tax Deduction at Source (TDS) is one of the means of collection of direct taxes. TDS constitutes nearly 40% of the direct tax collections. LEGACY In the legacy system, the deductees claimed TDS credits based on manual TDS certificates, issued by the deductors. There was no correlation between tax deductions, tax payments and issuance […]
