"25 April 2017" Archive - Page 2

Closely connected international transaction can be clubbed / aggregated

M/s. Kaypee Electronics & Associates Pvt. Ltd. Vs Deputy Commissioner of Income Tax (ITAT Bangalore)

These are appeals filed by the assessee-company directed against the assessment orders dated 24.12.2014, 17.12.2015 and 30.11.2016 for the assessment years 2010-11, 2011-12 and 2012-13 respectively u/s. 143(3) r.w.s. 144C of the Act by the Deputy Commissioner of Income-tax / Assistant Commissioner of Income-tax, Circle-4(1)(1), Bangalore....

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Annual Bonuses Is The Time For Wise Money Management

The month of annual bonuses seems like paradise when we start planning in advance on how to spend it. This excitement will get us into impulses of spending on things that give momentary pleasure only. This leaves us regretting for our decisions later....

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Posted Under: Income Tax |

CBDT cannot reject compounding of offense application for inordinate delay or non payment of fee in advance

Vikram Singh Vs Union of India & Ors. (Delhi High Court)

CBDT cannot arrogate to itself, on the strength of Section 279 of the Act or the Explanation thereunder, the power to insist on a 'pre-deposit' of sorts of the compounding fee even without considering the application for compounding....

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Distribution of GST Provisional Id & Access Token of Phase 4 dealers Started

Trade Circular No. 12 T of 2017 25/04/2017

Provisional Ids and Access Token of Phase 4 dealers, are now made available by GSTN. Dealer can obtain their Provisional Ids from department's portal www.mahavat.gov.in, using their login credentials. The list of all such dealers is published under "What's New" Section on MSTD's portal....

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Overview of Goods and Service Tax

What is Goods and Service Tax ? It’s a destination based tax on Consumption of Goods and availing/rendering of Services. It is levied at all stages right from the manufacture to the final consumption. The tax paid at the previous stage will be eligible for set off. In short, only the value added shall be […]...

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Posted Under: Income Tax |

S. 263 Inadequate enquiry cannot be termed as lack of enquiry

Small Wonder Industries Vs CIT-24 (ITAT Mumbai)

Uncontrovertedly, necessary details/reply to the questionnaire were filed/produced by the assessee and the same were examined by the Assessing Officer, therefore, it is not a case of lack of enquiry by the Assessing Officer...

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Provisional panel of CA Firms/LLPs with C&AG for 2017-2018

The Office of C&AG is hosting the Provisional Panel of Chartered Accountant firms/LLPs for the year 2017- 18 for indicating the position (detailed point score) of the firms....

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Treatment of Lease rent from letting of buildings/developed space

Circular No. 16/2017-Income Tax 25/04/2017

Lease rent from letting out buildings/developed space along with other amenities in an Industrial Park/SEZ— to be treated as business income....

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EPFO Introduces real time system in EPFO Default management

No.: CAIU/011(52)16/Principal employer Portal & CAW/722 25/04/2017

EPFO has introduced the ECR 2.0 for online collection of remittances through multi-banking. After introduction of the Unified Portal system for remittance of contributions, real time monitoring of the remittance position of the establishments has become a reality....

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Govt mandated Aadhaar for FAME-India Scheme

Notification No. S.O. 1410(E) 25/04/2017

Department of Heavy Industry is administering the Central Sector Scheme of incentive to the consumers for purchase of Hybrid & Electrical Vehicles under the Faster Adoption and Manufacturing of (Hybrid and) Electrical Vehicles in India (FAME-India) Scheme (hereinafter referred to as the Scheme);...

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