"14 November 2017" Archive - Page 4

MGST: GST Rate on Goods with effect from 15th November 2017

Notification No. 41/2017-State Tax (Rate) (14/11/2017)

In exercise of the powers conferred by sub-section (5) of section 9 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017) (hereinafter referred to as the said Act...

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Gold converted in jewelery/ ornament eligible for deduction U/s. 80-IB

Pr. CIT Vs Lakesh Handa (Jammu and Kashmir High Court)

Whether the Income Tax Appellate Tribunal was justified in deleting the addition made by the assessing officer by dis-allowing the deduction claimed under section 80-IB of the Income Tax Act, 1961...

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An overview of taxation on India ESOPs for US based NRIs

Employee Stock Option Plans (ESOPs) give employees a right to buy company shares at a pre- decided price and it forms part of taxable income. Most senior employees working with blue chip companies get ESOPs regularly and they have to pay tax on their ESOPs. ...

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Examining application of income towards charitable objects while granting registration U/s. 12A not permitted

Bhartiya Kisan Sangh Sewa Niketan Vs. CIT (ITAT Delhi)

CIT(E), at the stage of granting registration under section 12A was required to examine objects of society and not the application of income which would to be undertaken by AO on a year to year basis therefore, assessee’s objective being charitable within the meaning of section 2(15), CIT(E) was not justified in denying the registratio...

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FAQs and Manual on GSTR-6A

Q.1 What is GSTR-6A? Ans: GSTR-6A is a system generated ‘draft’ Statement of Inward Supplies for a Receiver Taxpayer. GSTR-6A is a read only form. Taxpayer cannot take any action in GSTR-6A. GSTR-6A for a particular tax period changes based on the details uploaded by the counter party supplier till ISD taxpayer submits the GSTR-6 [&he...

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Clarification to pensioners about suggestion to hike exemption limit to Rs. 5 Lakhs

D.O. No. 370150/9/2017- TPL (14/11/2017)

Clarification to pensioners about the hike in exemption limit to Rs 3 Lakhs from Minister of State for Finance Shri. Shiva Pratap Shukla by his letter dated 14th November 2017....

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Fighting Tax Crime: The Ten Global Principles

This report sets out the 10 essential principles for effectively fighting tax crimes. It covers the legal, institutional, administrative, and operational aspects necessary for putting in place an efficient system for fighting tax crimes and other financial crimes. It draws on the insights and experience of jurisdictions around the world. ...

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Effective Inter-Agency Co-Operation in Fighting Tax Crimes and Other Financial Crimes (Third Edition)

This report describes the current position in 51 countries as to the law and practice for domestic inter-agency co-operation in fighting tax crimes and other financial crimes including, for the first time, co-operation with authorities responsible for the investigation and prosecution of corruption. It identifies successful practices base...

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Tax Inspectors Without Borders – Bolstering domestic revenue collection through improved tax audit capacities

International tax experts gathered today at the OECD in Paris to share experiences and identify best practices in the implementation of Tax Inspectors Without Borders (TIWB) programmes....

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OECD updates transfer pricing country profiles reflecting transfer pricing legislation and practices

The OECD has published updated versions of transfer pricing country profiles (TPCP), reflecting the current transfer pricing legislation and practices of 31 participating countries. The country profiles contain up-to-date and harmonised information on key aspects of transfer pricing legislation, provided by countries themselves....

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