We are of the view that assesse has not filed any Certificate of Registration granted u/s. 12AA of the I.T. Act, 1961, which is mandatory for availing the exemption u/s. 11 to 13 of the Act
Shri Dron Sureshkumar Rao Vs. ITO (ITAT Ahemdabad) F&O business carried out through recognized stock exchange cannot be treated as speculative loss in view of the exceptions carried out under s.43(5) of the Act. As per clause(d) of first proviso to section 43(5) of the Act inserted by the Finance Act, 2005 with effect from […]
By purchasing licence to use MS Office software assessee received enduring benefit in the course of earning of profit, however, it did not become owner of the software, therefore, licence fee could not be treated as capital expenditure.
The anomalous position may be rectified by making suitable amendment in section 2(19) defining a Co-operative Society, by including therein a society registered under the Central Act currently applicable.
Recently, while waiting at the airport lounge, I had an opportunity to converse with a young man who had an attractive engineering degree from a no. 1 institution in India, and masters done from a top notch business school abroad
GST Input Tax Credit Set off against output liablity.
EXPOSURE DRAFT PREFACE TO THE FRAMEWORK AND STANDARDS ON INTERNAL AUDIT* (Last date for comments- January 17, 2018) The Internal Audit Standards Board of The Institute of Chartered Accountants of India (ICAI) invites comments on proposed revision to the Preface to the Framework and Standards on Internal Audit. Comments are most helpful if they indicate […]
The big fat Indian wedding! The extravagant event is a manifestation of the couple and their family’s dreams, months of painstaking financial planning and deep pockets. Earlier, the parents on both sides would foot the astronomical expenses. But, times have changed. Now, with the modern-day women earning handsome salaries, they prefer to take the burden […]
NOTIFICATION No. 119/2017-Customs (N.T.) In exercise of the powers conferred by sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby directs that each of the notifications of the Government of India, Ministry of Finance (Department of Revenue), specified in column (2) of the Table shall be amended in the manner as specified in the corresponding entry in column (3) of the said Table, namely
In pursuance to the Companies (Registered Valuers and Valuation) Rules, 2017, the Insolvency and Bankruptcy Board of India (IBBI) has recognized today the following two Registered Valuers Organizations:
