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Archive: 16 August 2018

Posts in 16 August 2018

Income Tax Survey Information cannot be denied under RTI without communicating reasons for such rejection

August 16, 2018 1260 Views 0 comment Print

On being queried, if there existed any specific provision regarding non-disclosure of survey related information to the concerned Assessee, he cited the provision of the Finance Bill, 2017.

FAQs: National Pension System For Non Resident Indians

August 16, 2018 2469 Views 0 comment Print

NPS is an easily accessible, low cost, tax-efficient, flexible and portable retirement savings account. Under the NPS, the individual contributes to his retirement account. NPS is designed on Defined contribution basis wherein the subscriber contributes to his own account. The benefit subscribers ultimately receive depends on the amount of contributions, the returns made on the contributions and the period of contributions.

IBC Will Override anything inconsistent contained in any other enactment: SC

August 16, 2018 4371 Views 0 comment Print

Pr. CIT Vs Monnet Ispat and Energy Ltd. (Superme Court of India) Given Section 238 of the Insolvency and Bankruptcy Code, 2016, it is obvious that the Code will override anything inconsistent contained in any other enactment, including the Income-Tax Act. We may also refer in this Connection to Dena Bank vs. Bhikhabhai Prabhudas Parekh […]

Vacancy for CAs having experience in Indirect Tax at Bangalore

August 16, 2018 8325 Views 0 comment Print

A leading Consultancy firm from Mumbai have Vacancy for Chartered Accountants (For the Post of Managers) with 1 to 5 Year experience in Indirect Tax i.e. Service Tax, Excise and VAT and should also be Conversant with upcoming GST laws.

Exemption U/s. 54B on Sale of agricultural land available even if land is cultivated for a part of year during two immediately preceding years

August 16, 2018 2688 Views 0 comment Print

Majid Khan Nisar Khan Vs ITO (ITAT Pune) Revenue records clearly show that there was cultivation on the land. In so far as determination of two years period is concerned, the period of two is to be determined from date of sale and not the immediately two preceding financial years. The date of sale of […]

A framework for restructuring a Limited Liability Partnership

August 16, 2018 20712 Views 1 comment Print

After the introduction of the Limited Liability Partnership Act, 2008 (LLP Act), it was anticipated that many corporate houses would consider Limited Liability Partnership (LLP) as a vehicle to run their business operations, mainly due to lower administrative compliances and ease of repatriation of profits to its partners.

CA- A Person Who Is Awake In Those That Sleep

August 16, 2018 27960 Views 0 comment Print

{Recently Taxguru has published my 70th article at its portal. ICAI too is celebrating the 70th year of its establishment. I hereby dedicate my 70 articles to the legendary figures of profession of Chartered Accountancy. Before moving on, I hereby dedicate my 71st article to the ICAI history} The Origin Of Accountants Chartered Accountants were the first accountants […]

GST Confiscation proceedings with notice to driver of Vehicle is valid: HC

August 16, 2018 651 Views 0 comment Print

It appears that, the petitioner as the owner was well aware of the confiscation proceedings. At such proceedings, the petitioner did not appear either before the adjudicating authority or the appellate authority or before the Writ Court claiming that, the proceedings stand vitiated by lack of notice to the petitioner. The driver of the vehicle was given notice to the confiscation proceedings. He participated in such confiscation proceedings.

E-book mechanism for issuance of securities on private placement basis

August 16, 2018 3855 Views 0 comment Print

2. With a view to further rationalise and ease the process of issuance of securities on EBP platform and in consultation with the market participants, it has been decided to provide for the following additional facilities:

Status of Norms Fixation of Advance Authorisations under Self declaration

August 16, 2018 2892 Views 0 comment Print

Attention of Trade and Industry is invited to new facility introduced by DGFT EDI division which enables exporters who obtained Advance Authorizations under self declaration basis to view status of their applications online.

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