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Archive: 06 April 2018

Posts in 06 April 2018

Enhancement of Gratuity Limit with effect from 29/03/2018

April 6, 2018 5880 Views 2 comments Print

The Government has issued Notification the same day wherein gratuity limit has been increased from Rs.10 lakhs to Rs.20 lakhs under the Payment of Gratuity Act, 1972.

Download Sahaj (ITR 1), 2, 3, Sugam (ITR-4), 5, 6, 7 for A.Y. 2018-19

April 6, 2018 152859 Views 18 comments Print

CBDT has vide notification No.16/2018 dated: 03rd April 2018 released ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4-Sugam, ITR-5, ITR-6, ITR-7 and Acknowledgement- ITR-V for Assessment Year 2018-19 / Financial Year 2017-18 and Same can downloaded in PDF Format (Return Filing Utilities are also expected to be released soon) from the links given below:- Form No. Applicability Download […]

CBDT order posting of 151 ACIT (Probationers) in Pr. CCIT(CCA) region

April 6, 2018 6228 Views 0 comment Print

Order No. 54 of 2018- Following Assistant Commissioners of Income Tax (Probationers) in the Level 10 in the pay matrix Rs. 56100-177500, on completion of training at National Academy of Direct Taxes (NADT), Nagpur are, hereby, posted in the region of Pr. CCIT (CCA) indicated against each of them with immediate effect and until further orders:-

Has your Car Insurance Claim been rejected? Know the Reasons

April 6, 2018 3279 Views 0 comment Print

A stark increase in the number of vehicles on the road and people not following the traffic rules can lead to traffic jams and road accidents. Therefore, in this day and age, it is always better to stay prepared for the unexpected. Whether it is your fault or someone else’s, an accident can lead to […]

Allegations of clandestine removal cannot be upheld based on mere third party evidence

April 6, 2018 1494 Views 0 comment Print

Both the appeals are being disposed of by a common order as they arise out of the same set of facts and circumstances, vide which the demand of duty stands confirmed against M/s.Dadu Steel & Power Ltd. to the extent of Rs. 13,77,691/- along with imposition of penalty of identical amount. Further, penalty of Rs.5 lakhs stands imposed upon Shri Santosh Agarwal, Director of the manufacturing unit.

Functions of NAA from CCI and CBEC

April 6, 2018 915 Views 0 comment Print

Functions of National Anti-profiteering Authority (NAA) from Competition Commission of India (CCI) and the Central Board of Excise and Customs (CBEC) The National Anti-profiteering Authority (NAA) has been constituted under section 171 of the Central Goods and Services Tax Act, 2017 read with Chapter XV of the Central Goods and Services Tax Rules, 2017 (CGST […]

Wealth Tax not payable on Assets already sold & considered in capital gain Tax

April 6, 2018 786 Views 0 comment Print

It was the contention of the AO in Income Tax proceedings that assessee had indeed handed over the possession of the property as on 01-04-2006, which led to assessing the capital gains arising on the transfer of that property in AY. 2007-08. Therefore, as on 31-03-2007, the property was no longer in the possession or ownership of assessee.

AAR Ruling on classification of ‘Sulekh Sarita’ books for GST

April 6, 2018 2580 Views 0 comment Print

The main problem faced by the children in Hindi subject is the error of MATRAS. This book teaches MATRAS with the concept of with comparison of words and picture presentation. The concept helps the child to learn Hindi MATRAS in the easy way, thus making the Hindi subject easier for the child.

GST on Dried Tobacco Leaves sold after cleaning & removal of unwanted particles

April 6, 2018 6960 Views 0 comment Print

The applicant is interested in trading of Dried Tobacco Leaves which would be purchased from registered dealer who in return purchases such Tobacco Leaves from Agriculturist / Farmers. Such registered dealer after purchasing it from Agriculturist / Farmers will sell the same to Applicant as it is without any further change in its form.

Removal of prohibition on export of all varieties of Edible Oils

April 6, 2018 648 Views 0 comment Print

All varieties of edible oils, except mustard oil, have been made ‘free’ for export without any quantitative ceilings, pack size etc., till further orders.

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