"03 November 2015" Archive

Merely because assessment order of AO is Brief & Cryptic it cannot be considered as erroneous & prejudicial to revenue interest

M/s Ved Parkash Contractors Vs CIT (ITAT Chandigarh)

ITAT Chandigarh held in M/s. Ved Parkash Contractors Vs CIT that if the AO had passed brief and cryptic assessment order but had checked and verified all the related documents submitted by the assesse in reply to the questionnaire of the AO...

5 Major Reasons Behind Income Tax Notices

Although it’s quite common to receive notices from IT department, people do get scared when they get one. What one needs to know is it’s not as big deal as one believes it to be, and if handled tactfully, one can get rid of any further complications. Following are some common reasons why people recieve […]...

Posted Under: Income Tax |

Notification No. 105/2015-Customs (N.T.) Dated: 03/11/2015

Notification No. 105/2015-Customs (N.T.) 03/11/2015

he Central Board of Excise and Customs hereby appoints the Joint or Additional Commissioner of Customs, Office of the Commissioner of Customs (Port), Chennai-II Custom House, 60, Rajaji Salai, Chennai to act as a Common Adjudicating Authority ...

Notification No. 104/2015-Customs (N.T.) Dated: 03/11/2015

Notification No. 104/2015-Customs (N.T.) 03/11/2015

In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Additional Commissioner of Customs (Export), Inland ...

Notification No. 103/2015-Customs (N.T.) Dated-3rd November, 2015

Notification No. 103/2015-Customs (N.T.) 03/11/2015

Notification No. 103/2015-Customs (N.T.) New Delhi, the 3rd November, 2015 G.S.R. 833 (E). - In exercise of the powers conferred by clause (aa) of sub- section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby makes the following amendments further to amend the notification of the ...

Govt. notifies Regional Directors in Ministry of Corporate Affairs

Notification No. G.S.R. 832(E) 03/11/2015

The Regional Directors specified in column (1) of the Table shall continue to exercise the functions conferred upon them under the Companies Act, 1956 or delegated under that Act in respect of rovisions of that Act, which are still in force....

Draft Registration Procedure Of GST – There Is A Scope For Improvement

The government with the aim to implement the GST w.e.f. 1.4.2016 has issued a draft for persual of experts, trade associations, etc. to suggest the flaws and improvements thereupon. This draft is in form of ‘Report of The Joint Committee on Business Processes for GST’. This report is divided into three parts namely GST Registration, G...

Posted Under: Income Tax |

Analysis of Section – 139 & 140 of Companies Act, 2013 – Part I

Appointment of Auditor/s, casual vacancy -The Companies Act, 1956 read as :-As per section 224(3) where at an annual general meeting no auditors are appointed or re-appointed, the central Government may appoint a person to fill the vacancy. As per section 224(5) the first auditor or auditors of a company shall be appointed by the Board of...

Posted Under: Income Tax |

Pros and Cons of 'Giving Tips'

The word 'Tips' refers to the small amount of money paid to a waiter or bearer in a restaurant or bar. TIPS is considered as the abbreviation for the phrase 'To Insure Preferential Service.' The payment of tips is compulsory in the USA but it is considered an insult in Japan and Hong Kong. Here, the plus and minus aspects of tips are disc...

Posted Under: Income Tax |

ICSI invites suggestions on Draft Guidance Note on General Meetings

The Draft of the Guidance Note on General Meetings (SS-2) proposed to be released is appended below for your valuable comments/suggestions, before release. In case, you feel any issue is not covered and is required to be added, you may send your comments/suggestions thereon....

Posted Under: Income Tax |

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