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Archive: 12 February 2019

Posts in 12 February 2019

Section 14A not applies to income based upon principle of mutuality

February 12, 2019 1353 Views 1 comment Print

Wodehouse Gymkhana Ltd. Vs ITO (ITAT Mumbai) The assessee claimed that it has earned the exempt income under the principle of mutuality. The assessee claimed its source of income on the basis of principle of mutuality and dividend / mutual fund dividend etc. and income not relating to mutual activity such as interest on bank […]

Some tips on Taxation and Finance for Individuals / Salaried

February 12, 2019 5049 Views 2 comments Print

Negotiating your salary hike while switching jobs and during performance appraisals is something which everyone should try, however such career movements are far and few. Below tips will help you out to maximise you salary, these tips should work for majority of cases, please consult your financial advisor before you act on them. Taxes Saved […]

Bengal creates new DRI&E to tackle tax evasion

February 12, 2019 1341 Views 0 comment Print

West Bengal create a new Directorate of Revenue Intelligence and Enforcement (DRI&E) under the Finance Department for comprehensive approach to investigation and enforcement of tax laws for tackling the menace of tax evasion and leakage of State revenue in a more efficient and effective manne GOVERNMENT OF WEST BENGAL FINANCE DEPARTMENT Revenue NOTIFICATION No. 231-F.T. […]

TCS on GST: An Unnecessary controversy created by CBIC

February 12, 2019 14061 Views 7 comments Print

CBIC has issued Circular No. 76/50/2018-GST dated 31-12-2018 in which in point no. 5 it has clarified that GST will be applicable on TCS ( under Income Tax) amount collected by Seller under Income Tax Act.

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