CBI ARRESTS A DEPUTY COMMISSIONER OF INCOME TAX DELHI AND THREE OTHERS IN AN ALLEGED BRIBERY CASE OF RS.1.5 LAKHS The Central Bureau of Investigation has arrested a Deputy Commissioner of Income Tax (DCIT) M Logapathy, an IRS Officer of 2008 Batch, from his office Chamber at C.R. Building, ITO, New Delhi while demanding & […]
(a) Withdrawal of certain exemptions under Notification No. 25/2012-ST. (i) Construction services provided to Government etc (Entry No. 12)- Clauses (a), (c) and (f) shall stand omitted. Construction, repair etc of the following services provided to the Government, a local authority, or a governmental authority are now taxable:
The Companies Act, 2013 has introduced new concept of ‘One Person Company’ (herein after referred to as ‘OPC’). Section 3 (1) (c) has been notified vide notification dated 26th March, 2014 and the same shall be effective from 01st April, 2014.
We have already entered in new era of Change called the Companies Act, 2013 (‘the Act’). However, this time change has brought enough reasons to worry and industry is already feeling heat of changes and struggling to cope with the changes due to complexities and additional burden of compliances brought by the Act.
As part of ICAI’s continuous drive to uphold the credibility, integrity and image of the accountancy profession in India, the regulatory mechanism of the Institute of Chartered Accountants of India (ICAI) is working assiduously. ICAI has been taking disciplinary action against its errant members as per the provisions of the Chartered Accountants (Amendment) Act, 2006 and Rules framed there under.
CBDT has vide Notification No. 41/2015 Dated 15.04.2015. notified Form ITR-1, ITR-2 and ITR-4S for Assessment Year 2015-16 i.e Financial Year 2014-15. The Notification also made Several Change in Rule 12 of Income Tax Rules, 1962 which is related to Condition of Filing of Income Tax Return. A brief summary of Changes is as follows :-
1. Who can use Form ITR-2 for Assessment Year 2015-16 i.e. Financial year 2014-15? This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:- (a) Income from Salary / Pension; or (b) Income from House Property; or (c) Income from Capital […]
Central Excise Duties and Service Tax Drawback Rules, 1995, the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 110/2014 – Customs (N.T.) dated the 17th November, 2014 published vide number G.S.R. 814 (E) dated the 17th November, 2014
The appellant availed CENVAT credit on input and capital goods. On a visit of the Central Excise officers, Preventive Unit, Thane – I on 20/02/2007, on their insurance, the appellant have reversed CENVAT credit of Rs.1, 70,737/- on 12/03/2007.
Notification No. 39/2015 – Customs (N.T.) Dated 16 April, 2015 G.S.R. 294 (E)- In exercise of the powers conferred by sub-section (1A) of section 75 of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.44/91-Customs(N.T.) dated the 30th May, 1991 published vide number G.S.R. 284(E) dated the 30th May, 1991, namely:-
