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Archive: 23 January 2017

Posts in 23 January 2017

Non-supply of reasons to reopen assessment makes such notice bad in law

January 23, 2017 3544 Views 1 comment Print

Bombay HC held that supplying of reasons for reopening assessment is a jurisdictional requirement and non-supplying of same when assessee specifically asked for same would made reassessment notice bad in law.

Startup FLOW don’t BLEED

January 23, 2017 2086 Views 4 comments Print

Generally, We come across entrepreneurs who have a pretty good product/service and same has been accepted by the market and because of that they are doing quiet well.

Time of Supply Of Goods or Services under Draft GST law

January 23, 2017 3253 Views 0 comment Print

Article explains Time of Supply Of Goods Or Services in Issue of Invoice, Receipt of Payment, in case of Reverse Charge Mechanism (RCM), in case of issue of voucher and in other cases. It further explains Time of Supply in case of change in rate of tax in respect of supply of goods or services.

Land- Operating or Finance Lease- Ind-As/ IFRS

January 23, 2017 48008 Views 4 comments Print

In current Indian accounting system, all lands are being shown as fixed assets in financial statements of any Company and are being depreciated based on their lives accordingly.

Cash seized during demonetization eligible for PMGKY deposit scheme

January 23, 2017 14961 Views 2 comments Print

In case, the petitioner submits any application to the Income Tax Department, the authorities can look into matter for the purpose of declaration of undisclosed income by availing the remedy under the PMGKY Scheme.

Draft on classification of articles of paper & printing industry

January 23, 2017 1518 Views 1 comment Print

Disputes have cropped up in respect of classification of railway/bus/other tickets/passes, railway ticket rolls and bus ticket rolls, mark sheets/certificates, OMR Sheets/ Answer Books with OMR, Answer booklets, inland letter cards, passbooks, applications forms, paper outer strip seal, Railway receipt (RR) and practical notebook.

Celebrating the Girl Child- National Girl Child Day

January 23, 2017 432 Views 0 comment Print

The Nation celebrates National Girl Child Day tomorrow. On 24th January every year, we celebrate the girl child, acknowledge her equal status and position in society and together we commit to fight the disadvantages, discriminations and inequalities the girl child faces in our society.

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