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Archive: 18 April 2018

Posts in 18 April 2018

Section 54F: Jointly owned house will not be considered in house property calculation

April 18, 2018 34635 Views 3 comments Print

Word own in s. 54F would include only the case where a residential house is fully and wholly owned by assessee and consequently would not include a residential house owned by more than one person.

Anti-dumping duty on imports of Glassware from China and Indonesia

April 18, 2018 9291 Views 0 comment Print

Seeks to impose definitive anti-dumping duty on imports of Glassware, originating in, or exported from People’s Republic of China and Indonesia.

Marine Consultancy Service provided to foreign ship owners do not constitutes composite supply with principal supply of consultancy service

April 18, 2018 5838 Views 0 comment Print

A. 1 Whether Marine Consultancy Service provided to foreign ship owners constitutes composite supply with the principal supply of consultancy service? A. 2 Whether the place of supply of MCS (as a composite supply) will be determined in terms of Section 13(2)(a) of the Integrated Goods and Services Tax, 2017, i.e. the ‘location of recipient of service’?

Non issue of notice U/s. 143(2) invalidates reassessment

April 18, 2018 3762 Views 0 comment Print

A.M. Muthiah & Anr. Vs DCIT (ITAT Mumbai) Issuance of notice under section 143(2) is mandatory, and absence thereof invalidates even a reassessment made in pursuance to section 148 and reliance placed by AO on section 292BB was misplaced.

E-way Bill in case of Import- Mandatory Fields

April 18, 2018 17727 Views 1 comment Print

After my earlier Article on How to Generate E-way Bill in case of Export and Details to be filled in the mandatory fields of generating E-way Bill? Now I am going to clarify few points which will help you while generating E-way Bill in case of Import. Following are the mandatory Fields for generating E-way Bill […]

SOP for cases referred by Customs Authority of Advance Rulings to JNCH

April 18, 2018 546 Views 0 comment Print

It is felt that there is an urgent need to devise a Standard Operating Procedure (SOP) to deal with Advance Ruling applications in order to ensure timely submission of departmental comments and/ or relevant records which are sought by Advance Ruling Authority and follow up in those cases.

10 Changes in Income Tax for Assessment Year 18-19

April 18, 2018 64443 Views 11 comments Print

Article compiles top 10 Changes in Income Tax for Assessment Year 2018-19. 1. Change in Income Tax Slab Rate for AY 2018-19 for Individuals : The only change in Income Tax Slab Rate is change in the tax rate for income falling between 2,50,000 – 5,00,000, it has reduced from 10%(in AY 17-18) to 5%.

Taxation & other related issues related to Bitcoins (Cryptocurrencies)

April 18, 2018 4218 Views 2 comments Print

Source of generation of Bitcoins and its taxability – Considering that there is no specific mention in the Income-tax regarding taxability of cryptocurrencies, one needs to understand the possible views which the income tax authorities might take in order to get the income generated from such transactions within the gamut of taxation in India.

Questionnaire – Removal of Name of Companies u/s 248

April 18, 2018 3381 Views 2 comments Print

With the advent of new Companies Act, 2013, Corporate Governance has become the essence of all Business Houses. Under the Companies Act, 2013, removal of name under Sections 248-252 is a privilege given to the Corporate to close their dormant entities legally without any hassles.

Maharashtra to Roll Out intra-state e-way Bill WEF 01st May 2018

April 18, 2018 7410 Views 0 comment Print

No requirement of generation of E-Way Bill for intra-state movement within Maharashtra for period 1st April 2018 to 30th April 2018.

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