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Archive: 24 February 2017

Posts in 24 February 2017

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

May 15, 2024 6501 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.

CBEC launches GST mobile app & invites suggestions on AIR Duty Drawback rates under GST

February 24, 2017 2619 Views 1 comment Print

CBEC has invited suggestions from Export Promotion Councils/ Commodity Boards/ Trade and Industry Associations/ Chambers of Commerce on All Industry Rates of Duty Drawback under the GST framework.

Applicability of ICDS for May 2017 CA exams

February 24, 2017 4023 Views 0 comment Print

The Central Government had, vide Notification No.S.O.892(E) dated 31.3.2015, in exercise of the powers conferred by section 145(2), notified ten income computation and disclosure standards (ICDSs) to be followed by all assessees, following the mercantile system of accounting, for the purposes of computation of income chargeable to income-tax under the head “Profit and gains of […]

CS Dec 2016 Exam results to be declared on 25th February 2017

February 24, 2017 816 Views 0 comment Print

The result of Company Secretaries Examinations for Professional Programme and Executive Programme held in December,2016 is scheduled to be declared at 11.00 A.M. and 2.00 P.M . respectively on Saturday, the 25th February,2017 through the website of the Institute: www.icsi.edu

ICAI Shocker: CPE hour increased to 120 Hours

February 24, 2017 4386 Views 0 comment Print

A. All the members (aged less than 60 years) who are holding Certificate of Practice (except all those members who are residing abroad) are required to: a. Complete at least 120 CPE credit hours in a rolling period of three-years.

Exemption U/s. 11 and 12 cannot be denied just because of profits from imparting of education

February 24, 2017 3087 Views 0 comment Print

Invocation of proviso to section 2(15) of the Act to deny claim of exemption under section 11 and 12 of the Act is not justified. Accordingly, grounds of appeal are allowed

Amount Paid to ex-Staffs to avoid Litigation is not Profit in Lieu of Salary

February 24, 2017 1974 Views 0 comment Print

Challenging the order,dated 02/01/2013,of the CIT(A)-20,Mumbai the Assessing Officer (AO)has filed the present appeal.The assessee has filed cross objections. Assessee-company is an international airline engaged in the business of passenger and cargo transportation.

Sec. 153C: Documents found during Search must belong to Assessee

February 24, 2017 2355 Views 0 comment Print

Requirement of Section 153C of the Act cannot be ignored at the alter of suspicion. The Revenue has to strictly comply with Section 153C of the Act. We are of the view that non satisfaction of the condition precedent viz. the seized document must belong to the respondent – assessee is a jurisdictional issue and non satisfaction thereof would make the entire proceedings taken thereunder null and void.

Property transferred to spouse for Inadequate Consideration can be attached to recover Tax dues

February 24, 2017 5220 Views 0 comment Print

The petitioner, the wife of an assessee in default, is before this Court aggrieved by Exhibits P9, P10 and P12 by which the Income-tax authorities proceeded against her property comprised in Survey Number 354/17/8, Re-survey number 681/9; which also adjoins the property in which the petitioner runs a hotel.

Fulfill Your Dreams without Worrying about Finance

February 24, 2017 5670 Views 0 comment Print

Many people are increasingly purchasing consumer durable products, such as washing machines, air-conditioners, televisions and refrigerators. Therefore, manufacturers are constantly launching new products with advanced technology and excellent features.

Credit Card vs. Consumer Durable Loan: Which One Should I go for?

February 24, 2017 6591 Views 1 comment Print

Most people use their credit cards to pay for expensive purchases, such as the latest smart phone or LED television. However, retailers offer other funding options through tie-ups with financial institutions, such as banks and non-banking financial companies (NBFCs).

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