"30 November 2017" Archive - Page 2

10 Simple and Easy to Follow Rules for Effective Personal Finance Management

The definition of middle class or upper middle class is changing rapidly along with the increasing earning power. Effective management of your personal finance is mandatory to cope up with the collective demand the world is putting on your plate....

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Posted Under: Finance |

Deep and brief analysis of Place Of Supply for determining taxability

Place of supply is creating lot of problems now a days. it is very important to determine it correctly because it will help state and central Govt. for revenue sharing....

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Posted Under: Finance |

CAs ought to maintain highest level of ethics and integrity: Delhi HC

Council Of The Institute Of Chartered Accountant Of India Vs. Ashok Kumar & Anr. (Delhi High Court)

Court would like to observe that CAs ought to maintain the highest level of ethics and integrity, not only in the interest of their clients but also to ensure that probity and sanctity are not compromised in any manner as CAs are not merely professionals engaged by their clients, but are protectors and guardians of financial markets on wh...

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Expenditure in raising loans or issuing debentures would be revenue in nature

Tata Industries Ltd. Vs. ACIT (ITAT Mumbai)

Tata Industries Ltd. Vs. ACIT (ITAT Mumbai) -Expenditure in raising loans or issuing debentures would be revenue in nature, irrespective of whether the borrowal is a long term or short term one....

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Suggestions for smooth compliance of GST- Issue and Response

F. No. 349/147/2017- GST/405 30/11/2017

Issue: Payment up to Rs. 50,000 to be allowed through cheque instead of current provision of Rs. 10,000. Response: The Council deliberately decided to keep Rs. 10,000/- as limit for payment through 'over the counter mode' of payment. The same has been decided in the line with the view of Government to minimize cash transactions and encour...

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Procedure for manual disbursal of budgetary support under GST

Circular No.1061/10/2017-Central Excise 30/11/2017

After registration of the eligible unit, based on the details mentioned by the applicant on the Registration Form, the bank account of the applicant shall be validated by the Asstt./Dy. Commissioner (in the capacity of Program Division of CBEC) and a Unique Vendor Id will be created. This exercise should be completed within 3 days of regi...

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Addition based on unauthentic / Unsigned Swiss bank statement U/s. 68 not sustainable

Shyam Sunder Jindal Vs. Asst. CIT (ITAT Delhi)

AO relied on copies of certain bank statement not bearing any signature of bank official--Authenticity of documents in question Where AO relying on certain loose papers, which were the copies of the bank statement not bearing any signature of the bank official, or the name of the bank or the place or the country where the branch was situa...

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Reg. Circular on Prevention of Unauthorized Trading by Stock Brokers

CIR/HO/MIRSD/MIRSD2/CIR/P/2017/124-SEBI 30/11/2017

Brokers are required to maintain the records specified at para III of aforementioned circular for a minimum period for which the arbitration accepts investor complaints as notified from time to time, currently three However in cases where dispute has been raised, such records shall be kept till final resolution of the dispute....

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Notification No. 112/2017-Customs (N.T.), Dated: 30.11.2017

Notification No. 112/2017-Customs (N.T.) [S.O. 3779 (E)] 30/11/2017

Notification No. 112/2017-Customs (N.T.) In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the ...

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Merely Playing Rummy with Small Stakes in a Club not makes it Gambling

Suresh Kumar Vs. Central Secretariat Club (Delhi High Court)

Merely because a card game of rummy was played in the club premises with small stakes from a few annas to some rupees would not make it gambling as held by the Supreme Court in the judgment in the case of State of Andhra Pradesh Vs. K. Satyanarayana & Ors. AIR 1968 SC 825...

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