LHO, BHUBANESWAR- INVITES APPLICATION FOR SELECTION AND EMPANELMENT OF CHARTERED ACCOUNTANT FIRMS FOR OUTSOURCING OF CONCURRENT AUDIT AT STATE BANK OF INDIA, BHUBANESWAR Start Date :11-JUN-2015 – Close Date :27-JUN-2015 1. State Bank of India: Overview State Bank India (“SBI” or “Bank”) a body corporate constituted under the State Bank of India Act, 1955 having […]
Mere cash deposit in the bank account of the creditor cannot be said that the creditor has no creditworthiness. Then by disagreeing by the other decisions the Hon’ble Tribunal held that in the present case, not even a notice was issued by the Assessing Officer to the creditors to examine and verify the case of the assessee regarding creditworthiness and identity of the creditors.
NOTIFICATION NO. 63/2015-Cus (N.T.), Dated: June 18, 2015 In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Central Board of Excise & Customs No.52/2015-CUSTOMS (N.T.), dated 18th June, 2015, except as respects things done or omitted to be done before such supersession, the Central Board of Excise & Customs hereby determines
India is a country which introduced the concept of Cost Audits for the corporates. Till 2011, the cost audit report formats were never aligned with any of other statutory documents primarily. Now after realizing the need for the availability of production, capacity and costing data for policy decision making, in 2011 MCA brought in the concept of submission of Cost Audit Report containing costing at Product group level.
Equal Remuneration Act, 1976 provides for the payment of equal remuneration to men and women workers and for the prevention of discrimination, on the ground of sex, against women in the matter of employment and for matters connected therewith or incidental thereto.
Features of forthcoming release of TDS/TCS – Return Preparation Utility (RPU) Version 4.4 (VB based) and Version 1.2 (Java based) and TDS/TCS – File Validation Utility (FVU) (Version 4.7 and 2.143) It is proposed to release new version of NSDL e-Gov TDS/TCS – Return Preparation Utility (RPU) and File Validation Utility (FVU) tentatively on 19th […]
Flipkart, Snapdeal, Amazon!! Do they sound familiar? Of course they do. There may hardly be any person who has not heard of these E-Commerce behemoths. E-Commerce is the in thing. Anything even remotely related to E-Commerce will sell like hot potatoes. With million dollar valuations and surplus funds, these giants are here to stay.
CS S. Dhanapal Exemptions and Relaxations to Nidhi Companies From Few Provisions of Companies Act, 2013 (To Be Notified In Official Gazette) The Companies Act, 2013 has given due recognition to Nidhi Companies by treating them as a special class of companies. An entire Chapter, namely Chapter XXVI has been devoted to Nidhi Companies and […]
CIT Vs. G.K. Properties Private Limited (Andhra Pradesh HC) Merely because the assessee made a claim which was not acceptable ipso-facto cannot be said to have made a wrong claim by furnishing inaccurate particulars attracting penalty under Section 271(1)(c) of the Income Tax Act
During the course of the assessment proceedings, it was noticed that the assessee had received a loan of Rs.30.00 lakhs in cash on 10.05.2009 thereby violating the provisions of section 269S of the I.T. Act. Accordingly, penalty notice u/s 271D of the I.T. Act was issued to the assessee on 25.04.2013 which was duly served on the assessee.
