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Archive: 03 December 2018

Posts in 03 December 2018

Section 54F on investment of sale proceeds in name of assessee & her husband

December 3, 2018 1698 Views 1 comment Print

Smt. Waheeda Asif Abbas Vs ITO (ITAT Chennai) The Assessing Officer disallowed the claim of the assessee under Section 54F of the Act on the ground that the assessee’s husband was not having any share in the property sold by the assessee. Since the investment was made in the name of the assessee and her […]

Cyber Security & Resilience framework for Stock Brokers / Depository

December 3, 2018 5028 Views 0 comment Print

Rapid technological developments in securities market have highlighted the need for maintaining robust cyber security and cyber resilience framework to protect the integrity of data and guard against breaches of privacy.

Transfer of securities in demat form- Deadline extended till 01.04.2019

December 3, 2018 1728 Views 0 comment Print

Transfer of securities only in demat form- Deadline extended till April 1, 2019- deadline has been extended and the aforesaid requirement of transfer of securities only in demat form shall now come into force from April 1, 2019.

How to dispose un-claimed/un-cleared cargo lying with custodians

December 3, 2018 3819 Views 0 comment Print

Following procedure with regard to expeditious disposal of un-cla imed/un-cleared cargo lying with custodians, whether in the private or public sector, under section 48 of the Customs Act, 1962, is prescribed

GSTR-9 Annual Return – Just a consolidate Return

December 3, 2018 26034 Views 1 comment Print

The much awaited Annual return (GSTR-9) was notified by CBIC vide Notification No. 39/2018 – Central Tax dated 04th September 2018 (though not available for filing on the portal till date) and Notification No. 49/2018- Central Tax dated 13.09.2018 notified Annual Reconciliation Statement (GSTR-9C) and as expected both forms are of no use to the […]

Relief in Penalty for minor discrepancies in e-way bill in Maharashtra

December 3, 2018 14739 Views 1 comment Print

Various representations have been received regarding imposition of penalty in case of minor discrepancies in the details mentioned in the e-way bill although there are no major lapses in the invoices accompanying the goods in movement.

No further physical verification of same conveyance in Maharashtra unless info of GST Tax Evasion

December 3, 2018 2469 Views 0 comment Print

It is clarified that only such goods and/or conveyances should be detained/confiscated in respect of which there is a violation of the provisions of the GST Acts or the rules made thereunder.

Transfer/postings of 5 Officers in the grade of ACIT/DCIT

December 3, 2018 1854 Views 0 comment Print

Office Order No. 210 of 2018 The following transfer/postings of the officers in the grade of Assistant Commissioner/ Deputy Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:

ICAI President’s Message – December 2018

December 3, 2018 1569 Views 0 comment Print

CA Naveen N. D. Gupta Elections usher in virtues of democracy in the system; democracy being reflective of freedom of expression, choice and related redeeming virtues in a civil society, results in the improvement in the quality of our day-to-day life. Strong and credible institutions echo the democracy within and when these are also the […]

Tax Collection at Source (TCS) under GST- FAQs- Updated

December 3, 2018 46479 Views 4 comments Print

Frequently Asked Questions and answers on Tax Collected at Source (TCS) under GST (Updated as on 30.11.2018) Question 1. What is Electronic Commerce? Answer: As per Section 2(44) of the CGST Act, 2017, electronic Commerce means the supply of goods or services or both, including digital products over digital or electronic network. Question 2. Who […]

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