"24 December 2018" Archive

Manual filing of Form No. 13 for Lower TDS/TCS Deduction

F.No.275/29/2018-IT(B) (24/12/2018)

CBDT (i) allowed non-resident Indians (NRIs), who are not able to register themselves on TRACES, to file manual application in Form No. 13 before the TDS officer or in ASK Centers till 31.03.2019. (ii) allowed resident applicants to file manual application in Form No. 13 before the TDS officer or in ASK Centers till 31.12.2018. ...

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Govt issues draft IT rules to curb fake news on Social Media

The instances of misuse of social media by criminals and anti-national elements have brought new challenges to the Law Enforcement Agencies (LEA). These include inducement for recruitment of terrorists, circulation of obscene content, spread of disharmony, incitement of violence, public order, fake news etc. ...

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Posted Under: Income Tax |

List of Members elected for 24th Central Council of ICAI

Notification No. 54-EL(1)/15/2018 (24/12/2018)

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NOTIFICATION New Delhi, the 24th December, 2018 (Chartered Accountants) No. 54-EL(1)/15/2018.—In pursuance of Rule 36 of the Chartered Accountants (Election to the Council) Rules, 2006, the Council of the Institute of Chartered Accountants of India is pleased to notify for general informat...

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CIT cannot disturb stock valuation method followed by Assessee consistently

M/s. Sree Alankar Vs PCIT (ITAT Cuttack)

M/s. Sree Alankar Vs PCIT (ITAT Cuttack) In the instant case, we find that it is not in dispute that the assessee is consistently following the same method of valuation of closing stock which was also followed in the year under consideration. The profit was deduced in accordance with the method adopted by the assessee. […]...

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Income from Terrace space let out to mobile companies is house property Income

Kohinoor Industrial Premises Co– operative Society Ltd. Vs. ITO (ITAT Mumbai)

The terrace of the building cannot be considered as distinct and separate but certainly is a part of the house property. Therefore, letting-out space on the terrace of the house property for installation and operation of mobile tower / antenna certainly amounts to letting-out a part of the house property itself....

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ITSC chairman cannot direct to pass a particular order in pending judicial proceedings

Raghuleela Builders Pvt Ltd Vs. Income Tax Settlement Commission (ITSC) (Bombay High Court) While disposing of these Petitions with the above clarifications, we may note that these Petitions have been filed challenging a somewhat curious and unforeseen development. We do not know in what circumstances the Chairman flew down to Mumbai and ...

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Deemed registration of Charitable trust under section 12A

CIT Vs TBI Education Trust (Kerala High Court)

Where application for registration under section 12A of Income Tax Act, 1961 is not disposed of by either accepting or refusing it within six months as per provisions of section 12AA(2), the registration would be deemed to applicable from date of expiry of six months from date of application....

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Reopening with approval of CIT instead of Addl. CIT is not valid

CIT Vs Aquatic Remedies (P) Ltd. (Bombay High Court)

Validity of  Reassessment Notice under section 148-Where approval of Addl. CIT was not obtained to reopen the assessment, rather it was obtained from CIT, the same was in breach of section 151....

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Option to apply for Goods Registration online on ICEGATE -reg

Public Notice No. 169/2018-JNCH (24/12/2018)

OFFICE OF THE COMMISSIONER OF CUSTOMS (NHAVA SHEVA-I) JAWAHARLAL NEHRU CUSTOM HOUSE, NHAVA SHEVA, URAN, RAIGAD, MAHARASHTRA — 400 707 FAX: 022-27243245 e-mail: edi(&jawaharcustoms.govin F. No. EDI/Misc-82/2015 JNCH Date: 24.12.2018 PUBLIC NOTICE NO. 169/2018  Subject: – Option to apply for Goods Registration online on ICEGATE...

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7.75% Savings (Taxable) Bonds, 2018 – Operational Guidelines

RBI/2018-19/95 IDMD.CDD.No.1637/13.01.299/2018-19 (24/12/2018)

Procedure to be followed by Receiving Offices (RO) for handling 7.75% Savings (Taxable) Bonds, 2018: A. Procedure to be followed at Receiving Offices in respect of Bond Ledger Accounts Receipt of Applications for Bond Ledger Account 1. The role of the Receiving Offices extends to:...

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