Sponsored
    Follow Us:

Archive: 21 November 2017

Posts in 21 November 2017

HC Quashes I-T Order Against P. Chidambaram & Family & Held Reopening discriminatory

November 21, 2017 2463 Views 0 comment Print

The Madras High Court has quashed the Income Tax Assessment Orders passed against P. Chidambaram, Senior Advocate & Former Union Finance Minister, his wife Nalini Chidambaram, Senior Advocate, and his son Karthi Chidambaram. The High Court quashed the order terming it as illegal, arbitrary, and issued without following principles of natural justice.

How to Invest in Gold in India?

November 21, 2017 2958 Views 0 comment Print

What is the best way to invest in gold in India? What are all the different ways to invest in gold? How can I / we invest in gold? What are all the various gold investment options available to Indian Investors?

Five current issues in Goods and Services Tax

November 21, 2017 19074 Views 5 comments Print

It is seen that based on the concerns raised by various exporters, government has immediately acted upon and created a mechanism in GST portal enabling exporters to claim refund of the taxes paid.

No Penalty for Bonafide Mistake in original Return which was revised later

November 21, 2017 2103 Views 0 comment Print

Assessing Officer that the actual investment made in the new residential house is Rs. 20 lakh, but, he has also filed a revised computation of income on 20th November 2012, offering taxable long term capital gain at a higher figure of Rs. 24,98,488. It is also a fact on record that the Assessing Officer has accepted the income shown in the revised computation of income. Therefore, considering the peculiar facts of the present case, we are of the view that the explanation of the assessee to the effect that investment shown in new house at Rs. 25 lakh was due to a bonafide mistake is acceptable.

CBDT Circular are Binding on Revenue

November 21, 2017 10341 Views 0 comment Print

The Kolkata ITAT recently held that the circulars issued by the Central Board of Direct Taxes (CBDT) is binding on the department and it cannot take a plea that such a circular is not valid or is against the provisions of law.

Introduction of Direct UAN allotment to any citizen at Unified Portal

November 21, 2017 4245 Views 0 comment Print

As you are aware that UAN is mandatory for filing the member contribution. Currently UAN can be generated by Employer only and the same to be generated before ECR filing of that member. Establishments with large number of new joiners every month, are facing problem in generation of UAN due to mismatch of input data with Aadhaar.

Refundable Tax System

November 21, 2017 2082 Views 0 comment Print

Introducing the Refundable Tax System: a new concept in indirect taxation that aims to create awareness and enhance people’s lives through tax refunds.

Order No. 204/2017: Proforma promotion of officers to Principal CIT grade

November 21, 2017 2448 Views 0 comment Print

In continuation to this Department’s Order No. 137 of 2017 dated 16.08.2017 and Order No. 181 of 2017 dated 24.10.2017, the President is pleased to grant Proforma Promotion to the following Commissioners of Income Tax

Relief in Average Export Obligation as per Para 5.19 of HBP of FTP 2015-20

November 21, 2017 5139 Views 1 comment Print

Para 5.19 of the Hand Book of Procedures of FTP 2015-20 permits re-fixation of Annual Average Export Obligation, in case the export in any sector/ product group decline by more than 5%. This implies that the sector/ product group that witnessed such decline in 2016-17 as compared to 2015-16, would be entitled for such relief.

GST: Division of Taxpayers between Center & State and handling of legacy issues

November 21, 2017 5481 Views 0 comment Print

Trade Notice issued by the Chief Commissioner, Jaipur Zone regarding Division of Taxpayers between the Center & the State and handling of legacy issues of CE & ST Assessees

Sponsored
Sponsored
Search Post by Date
March 2025
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31