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In the course of his duties, the Director of inspection has ample opportunities to follow the course of investigation and assessment carried on by the income Tax Officers and to check the information received from his sources with the actual material produced or not produced before the assessing authorities.
In the case of M/s. Nepa Agency Co. Pvt. Ltd & Anr v Union of India, Hon’ble Calcutta High Court held that whenever in a statute a remedy is provided or an alternative remedy is there, then there is no need to entertain the Writ Petitions.
Calcutta High Court Held in the case of M/s Budge Budge Company Ltd Vs CIT if the business had been suspended for some period of time without any malice contention of the assesse and the plant was still ready for use during that suspended period also
Direct Taxes worth Rs. 6,95,988 Collected Druing 2014-15; Direct Taxes Contribute more than 56% to total Central Taxes During 2013-14 and 2014-15. The Revised Estimates and actual collections of Direct Taxes for the last three years are as under:
One of the biggest challenges in the professional’s life is the Mind of the professional. Surprised ! .. Let me explain you. See a trader earns by selling inventory while professional have his time as his only inventory, isn’t it ! So, your time coupled by mental quality of that time makes your inventory. Keeping this in mind it is so crucial for one to live in the present moment {Recall the pepsi Ad –’Live it Abhi’}. This will help you to use more percentage of your mind at any present moment.
The facility of co-location or proximity hosting (or by whatever name called) is offered by the stock exchanges to stock brokers and data vendors whereby their trading or data-vending systems are allowed to be located within or at close proximity to the premises of the stock exchanges, and are allowed to connect to the trading platform of stock exchanges through direct and private network.
The time for preparation of the first financial statements as per the Companies Act’2013 is here. One of the most important provisions of the Act for Companies as well as the auditors to consider is the new method of the calculating depreciation as per Schedule II Part C of the Companies Act’2013.
CA Umesh Sharma Arjuna (Fictional Character): Krishna, expenditure incurred in relation to exempt income is a controversial issue and matter of discussion in these days. But what is exempt income, deduction of expenditure incurred on exempt income. What should taxpayer learn at the time of calculating tax or filling of return from this?
CA Mahendra Jain Karnataka Commercial Tax Department” (Department) has issued Notification no. CCW/CR44/2013-14 dated 29th April 2014 making mandatory for every dealer, whose total turnover is rupees fifty lakh and above during tax periods of the year ending 31st March 2014 or whose cumulative total turnover is rupees fifty lakh and above in the tax […]
Recently I came across few students who got hold of pirated CDs of some reputed coaching teachers known for CA Final coaching. These students got the CDs that were made by these famous teachers after putting in their hard work, labour, knowledge and intellect. But it appears these students were extremely happy because they didn’t […]
