With the increase in work load and performance pressure, multi tasking is the only way left to complete the work in limited time frame. Though it has helped us a lot but possibility of making errors has also increased many folds. We work in a field were making error is easy but getting it rectified from government authorities is very difficult and time consuming. So the question arises is how to utilize your limited time so as to reduce errors and increase productivity?
USA, a nation with a population of close to 319 million with one of the highest GDP in the world, approximately 10 times of India’s yearly Gross Products is now going around the world to find and catch her own citizens and green cardholders who earn income and accumulate wealth outside the States.
The revised ECB framework which the RBI issued on the 30th of November, 2015 comprise of favorable amendments with regard to categories of eligible borrowers. One of the components of the financial sector of the economy, the NBFCs, will be benefitted by the framework. The earlier framework was not as liberal and considerate as the revised framework with respect to NBFCs.
43. Engagement of Articled Assistants- Subject to the provisions of these Regulations and subject to such terms and conditions, as the Council may deem fit to impose in this behalf, the members designated as an associate or a fellow, who has been in practice continuously, whether in India or elsewhere or an associate or a fellow, who is deemed to be in practice within the meaning of Explanation to sub-section (2) of section 2 of the Act, shall only be eligible to engage an articled assistant or assistants:
We conducted the Performance Audit to seek an assurance whether the objectives of Automation of Central Excise and Service Tax (ACES) framed by the department have been achieved. We also examined the extent of utilisation of ACES in the field formations of the Board. The Performance Audit was conducted in 40 selected Commissionerates apart from the office of the Directorate General of Systems and Data Management.
The taxable event in any tax law is of utmost significance as the levy of tax is based on occurrence of that event. For instance, taxable event for excise is ‘manufacture’, for VAT/CST is ‘sale’, for service tax is ‘Provision of service’, etc. Under GST all the taxable events will be replaced with only one event which is “Supply” and hence the term supply will be the backbone of the GST Act.
This Ind AS applies to all inventories except financial Instruments, Biological Instruments and Work in Progress arising under construction. It does not apply to the inventories held by Producers of Agriculture, forest products and minerals products and Commodity broker. Commodity Broker shall measure the inventories at Fair value less cost to sell.
1.ITAT Mumbai held in the case of Asst. DIT Vs M/s Hongkong and Shanghani Banking Corporation Ltd that the broken period interest paid would be allowed to the assessee after relying the case of the assessee itself in The Hongkong and Shanghai Banking Corporation Ltd V/s DCIT
ITAT held in Acclaris Business Solutions Lvt Ltd. Vs I.T.O that only those companies could be compared for calculating ALP which were functionally similar. Those companies which were not performing similar functions could not be compared for calculating ALP.
ITAT held in Haier Appliances India Ltd Vs DCIT and Haier Appliances India Ltd Vs ACIT after relying on the case of Sony Ericsson Mobile Communications India Pvt Ltd reported in (2015) 374 ITR 118 (Delhi) that the above transaction of AMP
