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Archive: March, 2017

Posts in March, 2017

Avoid unethical tax return preparers touting inflated tax refunds: IRS

March 11, 2017 3594 Views 0 comment Print

Taxpayers should be on the lookout for anyone promising inflated refunds. Be wary of anyone who asks taxpayers to sign a blank return, promises a big refund before looking at their records or charges fees based on a percentage of the refund.

Cash Deposit by 17.92 Lakh persons not matches their tax profile

March 11, 2017 38274 Views 2 comments Print

Operation Clean Money; Income Tax Department identifies 17.92 Lakh persons whose tax profiles were not in line with the cash deposits made by them during the demonetization period

Show cause notices to 1018 companies for violation of CSR norms

March 11, 2017 4149 Views 0 comment Print

Show cause notices have been issued to 1018 companies for 2014-15 for violation of Section 135 read with Section 134(3) (o) of the Companies Act, 2013.

Paytm & Reliance Jio to reply on use of PM Photo in advertisements

March 11, 2017 1401 Views 0 comment Print

Department of Consumer Affairs sought clarification from Paytm and Reliance Jio regarding use of the photograph of the Prime Minister in their respective full page advertisement contravening the ‘prior permission’ stipulation in such cases under ‘The Emblems and Names (Prevention of Improper Use) Act, 1950’.

Visit ECI website to get Election Result, Analysis and Trends

March 11, 2017 1308 Views 0 comment Print

Dissemination of Trends and Results of General Elections of 5 Assemblies to start at 8 am tomorrow through ECI website. A Novel Initiative: ECI website to provide Comparative Analysis on Results of 5 Assembly Elections, 2017 with the 2012 polls

HC refuses to Quash Criminal Case When Trial is almost over

March 11, 2017 945 Views 0 comment Print

No plausible explanation has been offered by the petitioner as to why the matter was not settled at the earlier stages. After the victims have examined themselves on oath and the matter is fixed for final disposal, it is not a fit case to quash proceedings under Section 482 Cr.P.C. on the basis of settlement.

Discounting the Provisions (Time value of Money)-Ind-As/ IFRS

March 10, 2017 24276 Views 2 comments Print

CA Anuj Agrawal Provisions are being made where there is an uncertainty of an Amount and Timing to discharge these liabilities which are being calculated based on estimations & other procedures adopted by the management prescribed as per applicable accounting standards. Under the current accounting practice there is no requirement for discounting any provision which […]

CBEC Master Circular on Show Cause Notice, Adjudication & Recovery

March 10, 2017 81030 Views 1 comment Print

The master circular is divided into four parts. Part I deals with Show Cause Notice related issues, Part II deals with issues related to Adjudication proceedings, Part III deals with closure of proceedings and recovery of duty and Part IV deals with miscellaneous issues.

Redress investor’s complaint within 15 days: SEBI

March 10, 2017 1464 Views 0 comment Print

Redressal of complaints against Stock Brokers and Depository Participants through SEBI Complaints Redress System (SCORES)’ within 15 days.

Lok Sabha Passes Maternity Benefits (Amendment) Bill, 2016

March 10, 2017 3546 Views 0 comment Print

Lok Sabha passed today on 9th March, 2017 the Maternity Benefit (Amendment) Bill, 2016 which inter-alia includes increasing maternity benefit to woman covered under the Maternity Benefit Act, 1961 from 12 weeks to 26 weeks up to two surviving children in order to allow the mother to take care of the child during his/her most […]

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