"09 July 2016" Archive

HC not to admit writ petition if assessee already participated in reassessment proceedings

M/s. Amaya Infrastructure Pvt. Ltd. vs. Income Tax Officer (Bombay High Court)

HC held that when assessee participated in reassessment proceedings by furnishing the required documents and challenges the reopening subsequently before the high court by filing a writ petition then it would be not be appropriate for the high court to exercise its exclusive jurisdiction because the assessee has already chosen AO to exe...

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Can you trust the online financial calculators?

Yes, it is true that financial / retirement calculators are simple to use. Based on a few assumptions that you input on your computer about the future, it instantly provides you with a number that indicates how much one needs for his/her retirement. This calculation might appear accurate to you in terms of scientific and […]...

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Posted Under: Income Tax |

FAQs on Exchange Earner’s Foreign Currency Account

Q 1. What is an EEFC Account and what are its benefits? Ans. Exchange Earners’ Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer Category – I bank i.e. a bank authorized to deal in foreign exchange. It is a facility provided to the foreign exchange earners, including exporte...

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Posted Under: Income Tax |

Draft GST: Registration of dealers doing Inter State Supplies

In this article I have shared my views on Registration requirement in GST for persons engaged in making Inter-State supply alongwith Intra State Supply having offices in single or multiple States. ...

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Posted Under: Income Tax | ,

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September 2020