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Archive: 13 November 2017

Posts in 13 November 2017

Promotion of 229 ITOs to the grade of ACITs

November 13, 2017 2514 Views 0 comment Print

Order No. 196 of 2017- President is pleased to appoint following Income Tax Officers, presently posted in region shown against their names, in the grade of Assistant Commissioner of Income Tax (ACIT) on ad-hoc basis for the vacancy year 2016-17 in the Level 10 in the pay matrix Rs. 56100-177500/-

Judges cannot take up the matter on their own, unless allocated by Chief Justice of India: SC

November 13, 2017 7578 Views 0 comment Print

Once the Chief Justice is stated to be the master of the roster, he alone has the prerogative to constitute Benches. Needless to say, neither a two-Judge Bench nor a three-Judge Bench can allocate the matter to themselves or direct the composition for constitution of a Bench. To elaborate, there cannot be any direction to the Chief Justice of India as to who shall be sitting on the Bench or who shall take up the matter as that touches the composition of the Bench. We reiterate such an order cannot be passed. It is not countenanced in law and not permissible.

How to Control Risk and Reap Rewards from your Investments?

November 13, 2017 1035 Views 0 comment Print

There is no gain without pain is a common adage which many people believe in. Perhaps the gains which they have attained in the various spheres of life have been consistently greater than the proportion of risk and pain taken.

Notional income on house kept vacant for self-occupation

November 13, 2017 2610 Views 0 comment Print

Annual value of a house could be taken as nil only when either the house is occupied for own residence or could not be occupied by the owner, if he is residing in a building not owned by him at other place due to his employment, business or profession carried out at other place.

NCLT seek opinion of ICAI on derogatory remarks of personal nature in Audit Report

November 13, 2017 28341 Views 3 comments Print

Representatives from the Institute of Chartered Accountant have prayed for some time to assist this Bench whether disparaging remarks of a personal nature would fall within the purview of a Chartered Accountant to be mentioned in the Audit report.

How GST Affects the Indian Economy

November 13, 2017 19713 Views 0 comment Print

For the uninitiated, GST is an acronym for Goods and Services Tax. It is a tax reform introduced in July 2017. It is an indirect tax that applies to the entirety of India, replacing several cascading taxes imposed by India’s central and state governments. Introduced as The Constitution (One Hundred and First Amendment) Act of […]

Chartered Engineer shall act only in domain of his competence: DGFT

November 13, 2017 3918 Views 2 comments Print

A Chartered Engineer shall act only in the domain of his/her competence for issuance of nexus certification under EPCG Scheme. Public Notice No. 40/2015-2020

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