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Archive: 17 January 2018

Posts in 17 January 2018

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6366 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19380 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

152 new Suggestions on GST Law by ICAI

January 17, 2018 18660 Views 5 comments Print

The Institute of Chartered Accountants of India considers it a privilege to submit its suggestions on GST Law. We have segregated the 152 suggestions in 3 parts: Policy related issues, Law Related Issues, Procedural Issues

An Overview of Companies (Amendment) Act, 2017

January 17, 2018 5856 Views 2 comments Print

The author in these editorial gives a brief overview of the Companies Amendment Act, 2017 and has classified the amendments in the most simplest and understandable manner.

Condonation Of Delay Scheme, 2018- A Breather for disqualified directors

January 17, 2018 2244 Views 0 comment Print

Eligibility for Condonation Of Delay Scheme, 2018: Condonation Of Delay Scheme, 2018 is available to all the defaulting companies other than the companies which have been stuck off or whose names have been removed from the register of companies.

ASSOCHAM seeks higher outlay for education in Budget

January 17, 2018 492 Views 0 comment Print

Seeking enhanced outlay for education in the coming Budget, the ASSOCHAM has sent a communication to the Finance Minister Mr Arun Jaitley, also making out a case for relief to higher education under Goods and Services Tax (GST).

ICAI: Compulsorily conversion to New Scheme of Education and Training

January 17, 2018 3846 Views 0 comment Print

Students registered in only one of the Groups of Intermediate (Integrated Professional Competence) / Intermediate (Professional Competence) Course and register for Group 2 / Group 1 in New Scheme of Education and Training implemented w.e.f 1st July 2017 have to compulsorily convert Group 1 / Group 2 in New Scheme of Education and Training

Clarify amendment to Section 35AD(3): ICAI

January 17, 2018 2058 Views 0 comment Print

The amendment to Section 35AD(3) of the Act introduced by the Finance Act, 2010, seeks to prevent a taxpayer from claiming dual deduction in respect of the same business. It appears that if a taxpayer carrying on a specified business does not claim deduction under Section 35AD of the Act, he may opt for deduction under the relevant provisions of Chapter VI-A or Section 10AA of the Act, if the same exist for such business and it is more beneficial.

ITAT not levied penalty on CA Firm for not paying FBT on traveling & conveyance Expenses of Articled Clerks

January 17, 2018 1008 Views 0 comment Print

M/s. Gujrani & Co. Vs. Income Tax Officer (ITAT Kolkata) It is observed that the audit expenses of Rs. 5,19,238/- were claimed to be incurred by the assessee- company towards traveling and conveyance of the Articled Clerks, who were C.A. students receiving training from the assessee- firm. It was contended by the assessee during the […]

Allow deduction U/s. 80C on annual interest accruing on cumulative deposits: ICAI

January 17, 2018 1347 Views 0 comment Print

At present, Tax Saving FDR is allowed as deduction u/s 80C but its interest is taxable. It is pertinent to note that the deduction u/s 80C on reinvestment of interest on NSC is available.

Weighted deduction should be available on expenditure incurred on internally developed intangible assets

January 17, 2018 1701 Views 0 comment Print

The DSIR guidelines provide that eligible capital expenditure on R&D will include expenditure on plant, equipment or any other tangible item only. It also provide that capital expenditure of intangible nature is not eligible for weighted deduction.

Direct Tax Collections for F.Y. 2017-2018 show Growth of 18.7% up to 15.01.2018

January 17, 2018 942 Views 0 comment Print

The provisional figures of Direct Tax collections up to 15th January, 2018 show that net collections are at ₹ 6.89 lakh crore which is 18.7% higher than the net collections for the corresponding period of last year. The net Direct Tax collections represent 70.3% of the total Budget Estimates of Direct Taxes for F.Y. 2017-18 (Rs. 9.8 lakh crore).

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