Arun Arya Vs. ITO (J&K High Court) Under the Income-Tax Act, 1961 there are various provisions for compliance with taxing provisions and the collection of taxes. The Income-tax Act seeks to enforce tax compliance in a three fold manner; namely 1) Imposition of interests 2) Imposition of penalties and 3) Prosecutions. In the fight against […]
In addition to the existing four industries namely cement, lime kiln, calcium carbide and gasification industries, the fifth one i.e. graphite electrode industry is added for whom Petcoke is freely importable. Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan, New Delhi Notification No. 38/2015-2020 Dated the 28 September, 2018 Subject: […]
Customs Rate of Exchange of Foreign Currency Conversion (South African Rand) wef 29.09.2018 notified vide Notification No. 83/2018 – Customs (N.T.) dated 28th September, 2018.
Import of Peas classified under Exim Code 0713 10 00 (including Yellow peas, Green peas, Dun peas and Kaspa peas) is “Restricted” till 31.12.2018 vide Notification No,37/2015-2020 Dated 28th September, 2018. Government of India Ministry of Commerce & Industry Department of Commerce UdyogBhawan, New Delhi Notification No. 37/2015-2020 Dated the 28th September, 2018 Subject: – […]
The Central Bureau of Investigation has arrested an Assistant Commissioner of Customs, Air Cargo Complex, Andheri, Mumbai for demanding & accepting a bribe of Rs.2000/- from the complainant. A case was registered against an Assistant Commissioner of Customs and an Appraiser, Air Cargo Complex, U/s 120-B of IPC and Section 7 of PC Act, 1988 […]
A High Level Committee on Corporate Social Responsibility – 2018 (HLC-2018) has been constituted under the Chairmanship of Shri. Injeti Srinivas, Secretary, Ministry of Corporate Affairs (MCA) to review the existing framework and guide and formulate the roadmap for a coherent policy on Corporate Social Responsibility ( CSR).
Cabinet approves increasing of Government ownership in Goods and Services Tax Network and change in the existing structure with transitional plan
In view of the Time Barring matters, all the officers/officials of Income Tax Department, North West Region are being informed that the Income Tax Offices shall remain open and the receipt counters shall also work during normal office hours on 29.09*2018 [Saturday] and 30.09.2018 (Sunday).
Most of the Stakeholders have complied with DIR 3 KYC Guidelines and some of the Stakeholders are in the process of uploading the form. Most of the Stakeholders successfully uploaded form . However various Practical difficulties must have been faced by some of them.
Generally Salaried are entitled to various tax benefits and investment avenues to save tax which are not available to self employed. However the government has tried to do the balancing act at some places by providing tax benefits/investment avenue to self employed as well which are not identically similar but are somewhat similar. Let us discuss some of thsse benefits/investment avenues.
