1. DUE DATES OF FILING OF ITR AND TAX AUDIT REPORTS We all know that the due date of filing of the returns and audit reports are as follows- 31st July – filing of return of income for the people other than whom tax audit under income tax act applies and companies. 30th September – filing of tax audit report, Income tax return of the person to whom tax audit under income tax is applicable and companies registered in India.
In this article I am going to discuss about the Agenda of Board Meeting required to be held for following purposes: Like: Approval of Directors’ Report/ Annual Account and issue of Notice of AGM. As we know that secretarial Standard on Board Meeting has been applicable from 1st July, 2015. On or after 1st July, 2015 all the Board Meeting will be held as per the SS-1 and Documentation should be as per SS-1.
This Income Computation and Disclosure Standard is applicable to all the assesses following mercantile system of accounting for computation of income chargeable under the head Profits and gains of business or profession or Income from other sources and not for the purpose of maintenance of books of accounts.
In the case of DCIT Vs. Raj Kumar Saraogi the Kolkata ITAT held that comparison with the items of jewellery found at the time of search with wealth tax return, which were filed much earlier was putting an onerous task on assessee to prove something impossible
High Court held In the case of CIT vs. Rakesh Mahajan that the income or profits as ascertained and determined by the assessee himself cannot always be accepted as correct because it is the duty of the A.O. to consider whether the books disclose the true state of accounts and whether the correct
VUCA is an acronym used to describe or reflect on the volatility, uncertainty, complexity and ambiguity…a scenario witnessed in India…rather worldwide. VUCA probably originated as a concept in the 1990s and derives from military vocabulary and has been subsequently used in emerging ideas in strategic leadership that apply in a wide range of organizations and business scenarios.
We have a tendency to always notice what we lack. Even if we may have everything but someone else got something which we don’t, we see the lack of that thing in our lives.Why should we try to find that thing within our lives? We may as well have something that person doesn’t. But still our mind will only notice that one thing.
Indirect Tax Revenue (Provisional) Collections during Month of August 2015 Increased by 36.7% as Compared with August 2014 while, Overall Indirect Tax Collections During April-August 2015 Increased to Rs. 2,63,089 Crore from Rs. 1,92,677 Crore during the same Period Last Year and thereby Registering an Increase of 36.5%.
It will ensure that industries engaged in manufacturing alcohol meant for Potable purposes shall be under the total and exclusive control of States in all respects. This should also assign accountability to States for manufacture of Potable alcohol.
Close on heals of the decision on spectrum sharing, the Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today approved a proposal of the Department of Telecommunications on guidelines for spectrum trading arising from the recommendations of the Telecom Regulatory Authority of India (TRAI).
