Procedure for conducting assessment proceedings through ‘E-Proceeding’s in scrutiny cases As per Instruction No. 1/2018 dated 12th February 2018 issued by CBDT, Following procedure will be apply for conducting assessment proceedings through ‘E-Proceeding’s in scrutiny cases:- Enquiry before assessment in electronic mode Notice shall be issued electronically and delivered to the assesses in his ‘E-Filing’ […]
Capital gains taxation has always been a contentious issue drawing the attention of Finance Minister in every Budget, with this year not being an exception. So Friends in today’s blog we are going to cover the taxation of LONG TERM CAPITAL GAIN (LTCG) arising from sale of listed shares as well as proposed amendment in […]
When the goods are removed from SEZ to DTA for supply to DTA, the question remains unanswered is whether the Integrated Tax is payable twice on the same transaction or only once akin to transactions between two DTAs.
Petitioner here will continue to pay the taxes as and when they fall due after availing and utilizing the credit for the cess already paid. This will, however, be subject to the final orders passed by this Court.
As per the Circular No. 8/8/2017-GST dated 04.10.2017, the LUT shall be valid for the whole Financial Year in which it is tendered. Thus, the LUT obtained during FY 2017-18 shall be valid till 31st March, 2018. Exporters who intend to export under LUT are advised to submit fresh LUT for exports w.e.f. 01.04.2018.
Contents of Bank Audit Manual 2017-18 1. Key Points 2. Asset Classification & Provisioning – a ready reckoner 3. Income Recognition & Asset Classification Norms – at a Glance 4. Important Points 5. Asset Classification – at a Glance 6. Important Audit Checks 7. Draft Management Representation Letter
E-way bill provision of GST, first introduced on 1 February 2018 was initially made mandatory for inter-state transportation of goods, having consignment value of more than Rs. 50,000 through road, railways, airways and vessels.
The Section 44AD of the Income Tax Act contains special provisions for computing profits and gains of a business on presumptive basis. According to this section the profits and gains from eligible businesses carried by an eligible assesse are required to be computed at least at the rate of 8% / 6% of the total turnover / gross receipts. However, the assessee can declare lower profit by maintaining books of account etc. as required under section 44AA and by furnishing audit report as required under Section 44AB.
Discover the importance of filing your income tax returns accurately. Avoid penalties and prosecution by submitting your financial details to the income tax department.
Inspite of various changes in budget 2018, following are the highlights of some of the key changes which everyone should aware of. We hope that these changes will bring the positive results and let’s welcome new financial year!!
