"September, 2015" Archive

Bombay HC instructs CBDT to extend ITR Due Date to 31.10.2015

The Chamber of Tax Consultants Vs. Union of India & Ors. (Bombay High Court), WP 2764/2015, Filed on 22.09.2015. Bombay High Court Instructed CBDT to extend due date to 31.10.2015. We will upload copy of order and analysis soon. ...

Read More
Posted Under: Income Tax |

Gujarat HC directs CBDT to extend ITR due date to 31.10.2015: Judgment Analysis

All Gujarat Federation of Tax Consultants Vs CBDT (Gujarat High Court)

By this petition under article 226 of Constitution of India petitioners sought relief by way of writ and prayed before court that due date of filing ITR should be extended upto 30.11.2015. Following relief were sought in this instant writ petition...

Read More

ICAI President's Message – October 2015

Every year we celebrate 2nd October as the birthday of our own Mahatma Gandhi, who is also called the Father of our Nation, as a mark of respect for his selfless contribution to our nation. Mahatma, who sacrificed his everything for the freedom of our nation, has said so many things apart from his core battle, to send across the message o...

Read More
Posted Under: Income Tax |

CBDT rejects KSCAA representation on Extension of ITR/Tax Audit Due Date

F.No.225/207/2016/ITA.II (30/09/2015)

The Karnataka State Chartered Accountants Association ('KSCAA') has Fled a representation dated 15.09.2015 in Central board of Direct Taxes (CBDT) seeking extension of date for filing returns from 30th, September. 2015. Subsequently KSCAA flied a PIL In Honble Karnataka High Court seeking intervention of Court in this matter....

Read More

CBDT extends date only in Punjab, Haryana, UT of Chandigarh and Gujarat

F.No.225/207/2016/ITA.II (29/09/2015)

Vide its order dated 30.09.2015 CBDT has extended due date only for the state of Haryana, Punjab , Union Territory of Chandigarh and Gujarat. Download Official Copy of the orders in PDF Format F.No.225/207/2016/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, TA.II Division Ne...

Read More

Orissa HC Instructed CBDT to extend due date of ITR to 31.10.2015

Jagdish Prasad Mittal Vs. Union of India (Orissa High Court), Writ Petition No. WP(C)-17178/2015, Date- 21/09/2015 In this case writ is been filed on 21.09.2015 for Non extension of due date of ITR and Tax Audit for Assessment Year 2015-16 by CBDT. The writ is scheduled for Hearing on 23rd September 2015....

Read More
Posted Under: Income Tax |

Conditions & Limitations for Grant of Rebate of Duty on Goods Exported out of India

Rebate of duty on goods exported out of India is covered by Rule 18 of the Central Excise Rules, 2002. The Central Government may, by notification, grant rebate of- i. Duty paid on such excisable goods which are exported out of India, or ii. Duty paid on materials used in the manufacturing or processing of such goods....

Read More
Posted Under: Income Tax |

Transitional issues in Goods and Services Tax – Series 1

Constitutional amendment bill for levying Goods and services tax has already been passed in loksabha. Had it not been for the rigid stand of the opposition the same would have been passed in the monsoon session of the parliament held in august 2015. Past apart, with the current business mood along with support from the states and sheer de...

Read More
Posted Under: Income Tax |

All about Income Computation and Disclosure Standards

CA Himanshu Gupta Introduction The Central Government recently notified 10 Income Tax Computation & Disclosure Standards (ICDS) effective financial year 2015–16. This will affect the compliance practice of all taxpayers following the mercantile system of accounting for computing income chargeable to income tax under the heads: Profi...

Read More
Posted Under: Income Tax |

VAT, Luxury Tax & Service Tax on Hotel & Restaurant industry

All of us use the services of Hotels and restaurant for stay, meetings, party, get together etc. It is generally been observed that the ultimate payment made by us is much higher than the prices mentioned on the menu list or tariff charts. The difference arises because of 4 major heads:...

Read More
Posted Under: Income Tax |