"October, 2018" Archive - Page 18

Charitable Entity can’t be Taxed because some element of its income is exempt from Principles of Mutuality: ITAT

All India Rubber Industry Association Vs. ADIT (E) (ITAT Mumbai)

All India Rubber Industry Association Vs. ADIT (E) (ITAT Mumbai) The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that a charitable entity cannot be denied the tax benefits merely because some element of its income is exempt from the Principles of Mutuality. The objects of the assessee are for […]...

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Automatic GST Late Fees Calculator for Form GSTR 3B

Simple Automatic GST Late Fees Calculator in Excel Format for easy calculation of Late Fees Payable for late filing of Form GSTR 3B which calculates  late fees under both CGST and SGST. Post is updated with Version 3 of Calculator on 25.10.2018....

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Posted Under: Income Tax |

Reg. Anti-dumping duty on Saccharin exported from China PR

Instruction No. 18/2018-TRU (25/10/2018)

To briefly recapitulate, anti-dumping duty on Saccharin originating in and exported from China PR was imposed vide notification No. 41/2007 -Customs (ADD) dated 19.03.2007 for five years. These duties were extended vide notification No. 7/2012-Customs (ADD) dated 13.01.2012 for a period of five year following a sunset review initiated by...

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Master Direction – Fit and Proper Criteria for Sponsors – Asset Reconstruction Companies (Reserve Bank) Directions, 2018

RBI/DNBR/2018-19/66 Master Direction DNBR. PD (ARC) CC. No. 06/26.03.001/2018-19 (25/10/2018)

Reserve Bank of India RBI/DNBR/2018-19/66 Master Direction DNBR. PD (ARC) CC. No. 06/26.03.001/2018-19 Dated: October 25, 2018 The Chairman / Managing Director / Chief Executive Officer All registered Asset Reconstruction Companies Dear Sir/ Madam, Master Direction – Fit and Proper Criteria for Sponsors – Asset Reconstruction ...

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Fire Audit of Currency Chests – Clarification

RBI/2018-19/66 DCM (CC) No.1083/03.39.01/2018-19 (25/10/2018)

We have been receiving references from various banks about non-availability of staff in State / District Fire Departments for getting the periodical fire audit conducted in their respective currency chests. ...

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GST Circular on detention / confiscation of goods & conveyances: Analysis

CGST circular No 41 dt 13.04.2018 in the table format for easy reference...

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Posted Under: Income Tax |

Revised Form 13 & Procedure for Lower/ Nil Rate TDS/ TCS certificate

Notification No. 74/2018-Income Tax [G.S.R. 1068(E)] (25/10/2018)

In exercise of the powers conferred by sections 197 and 206C read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely...

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Appointment of Company Secretary as per Companies Act 2013

The Appointment of Company Secretary (CS) has been made mandatory under Companies Act 2013 for a few class of the company like listed companies or company having paid-up capital more than the 5 Crore. Who is a Company Secretary? A company secretary is a principally an employee even though he holds very high rank. He / […]...

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Posted Under: Income Tax |

Withdrawal rules for your provident fund account

Provident Fund is a product which helps salaried people to accumulate funds while they are earning for the period the income flow stops. So generally it is not supposed to be withdrawn before its maturity and jeopardise one’s retirement. However there are circumstances when resorting to the money accumulated in the provident fund accoun...

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Posted Under: Income Tax |

Appointment of Auditor for Conducting GST audit of Allahabad Bank

ALLAHABAD BANK GENERAL ACCOUNTS AND AUDIT DEPARTMENT HEAD OFFICE: 2 NETAJI SUBHAS ROAD, KOLKATA-700 001, INDIA E-Mail: gst.ho@allahabadbank.in Website: www.allahabadbank.in REQUEST FOR PROPOSAL (RFP) FOR APPOINTMENT OF AUDITOR FOR CONDUCTING GST AUDIT OF ALLAHABAD BANK Ref. No.: HO.GAC/GST/01/2018-19 Date: 22.10.2018 Disclaimer The inform...

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Posted Under: Income Tax |