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Archive: 16 November 2016

Posts in 16 November 2016

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 459 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7488 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

CBDT notifies Authority for Section 143(2) Assessment

November 16, 2016 2458 Views 0 comment Print

Rule 12E. Prescribed authority under sub-section (2) of section 143.—The prescribed authority under sub-section (2) of section 143 shall be an income-tax authority not below the rank of an Income-tax Officer who has been authorised by the Central Board of Direct Taxes to act as income-tax authority for the purposes of sub-section (2) of section 143

Government ready for open debate on every issue : PM

November 16, 2016 1576 Views 0 comment Print

Government is ready for open debate on every issue and we hope that it will create a conducive atmosphere for significant and fruitful decisions.

Additional depreciation cannot be claimed on Machinery used during earlier years

November 16, 2016 7155 Views 0 comment Print

First requirement to claim of additional depreciation is that there should a new machinery or plant. A machinery is new till it is first put to use. Once it is used, it is no longer a new machinery. Admittedly, the machinery, on which additional depreciation has been claimed, was already used in various preceding previous […]

Govt Launches revamped Aadhaar Toll-Free Helpline No. 1947

November 16, 2016 1561 Views 2 comments Print

The free of cost helpline 1947 will be available 24×7 throughout the year on IVRS mode, while Call-Centre agents will be available from 7 am to 11 pm (Monday to Saturday). On Sundays, agents will answer calls from 8 am to 5 pm. On an average the helpline number handles about 1.5 lakh calls per day.

Empanelment with Oriental Insurance Company Ltd. for Concurrent Audit

November 16, 2016 3397 Views 0 comment Print

Oriental Insurance Company Ltd. propose to select a Chartered Accountant Audit Firm of repute for conducting Concurrent Audit of Investment Operations of the Company.

Legal Analysis of Demonetization Regulations

November 16, 2016 7705 Views 4 comments Print

Notification No. 1/ 2015 – Income Tax S.O. 14(E).—In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification of the Government of India in the Ministry of Finance, Department of Revenue, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), vide number S.O. 718(E), dated the 31st March, 2010 (No. 21/2010, dated the 31st

Section 270A – Encouraging assesse to disclose unreported income?

November 16, 2016 11629 Views 4 comments Print

The Finance bill 2016 bought a new array of sections to the income tax act that are section 270A and 270AA. The law aims to provide a new procedure for charging penalty for concealment or understatement of income which intends to replace the existing array of sections that is 271(1)(c).

Deposit of Old Currency in Bank Things to be Kept in Mind

November 16, 2016 16903 Views 13 comments Print

Income Tax Assesses maintaining books of accounts : They should prepare their balance sheet as on 8th November ,2016 and ascertain their cash balance.

MEF Empanelment 2016-17- ICAI calls for Financial Documents

November 16, 2016 5665 Views 1 comment Print

It has been decided to call for Financial Documents of the applicants for Multipurpose Empanelment, for the year 2016-17. The above MEF has been selected as one of those to submit the Financial Documents in connection with the subject empanelment.

Appraisal report cannot substitute requirement of recording of satisfaction in case of persons searched

November 16, 2016 3201 Views 0 comment Print

Shri Anil Agarwal Vs ACIT (ITAT Indore) It has been held that even when the Assessing Officer of the person searched and the other person is common, the Assessing Officer of the person searched has to necessarily form a satisfaction that the item referred to in section 153C belongs or belong to a person other […]

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