"29 July 2017" Archive

Beware before claiming any deduction/allowance in Income Tax Return which was not considered in Form 16/16A

This amendment is going to hit hard for those Income Tax Assessee’s (Majorly Salaried Employees) who used to make manipulative claims of allowances (LTA, medical, HRA etc) or deductions (Section 80C, 80D) in Return of Income and claims refund of TDS deducted from Salary....

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Posted Under: Income Tax |

Shifting Of Registered Office

Ministry of Corporate Affairs have issued the notification to further amend the Companies (incorporation) Rules, 2014 (hereinafter referred to as the principal rules) namely the Companies (incorporation) Second Amendment Rules, 2017....

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Posted Under: Income Tax |

All about Annual Return-Section 92 of Companies Act, 2013

Annual return is a snapshot of the companys yearly report which gives essential information about the companys composition, activities, and financial position, and which must be filed by every active incorporated company with the Registrar of Companies (ROC)....

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Posted Under: Income Tax |

E-Way Bill in GST

E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN. It is required for the ‘movement’ of goods of more than Rs 50,000....

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Posted Under: Income Tax |

All about ICITSS in CA New course

Students are facing problem to understand about the new ICITSS course which is applicable from 1st of July 2017. Here i am providing the summary of the Course....

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Posted Under: Income Tax |

Financial Plan Review: What makes a Financial Plan workable?

Once the financial plan is created, do you need to continue your relationship with your financial planner? Will the financial plan which you created in your early life, hold good till your retirement?...

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Posted Under: Income Tax |

Clause wise consideration of Companies (Amendment) Bill, 2017

The Companies (Amendment) Bill, 2016 has been passed by the Lok Sabha on July 27, 2017 as Companies (Amendment) Bill, 2017 & would be referred to Rajya Sabha for consideration and passing. There are 54, total Amendment made in Companies (Amendment) Bill, 2017. Circulated 43 amendment proposals out of which five new clauses also have [...

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Posted Under: Income Tax |

Bureaucrats are free to render their opinion during decision making process

The Union Minister of Finance, Defence and Corporate Affairs, Shri Arun Jaitley: Bureaucrats are free to render their advice/opinion during the process of decision making. The Union Minister of Finance, Defence and Corporate Affairs, Shri Arun Jaitley said that the bureaucrats are free to render their advice/opinion during the process of ...

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Posted Under: Income Tax |

No shortage of Essential Drugs post introduction of GST

As per the information received from the All Indian Origin Chemists & Distributors Limited (AIOCD), there is no shortage of essential drugs and smooth supplies are being maintained....

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Posted Under: Income Tax |

ITAT clarifies period of limitation for filing rectification application U/s. 254(2)

Srinivas Sashidhar Chaganty Vs ITO (ITAT Hyderabad)

Section 254(2) of the Act refers to the period of limitation reckoning from the end of the month in which the order is passed and not from the date of ‘date of receipt of the served/ received are not interchangeable and the Legislature in its wisdom expressly used the phraselogy depending on the intention. In the instant case, the expre...

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