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Archive: 28 February 2019

Posts in 28 February 2019

Personal Laws (Amendment) Act 2019 applicable from 01.03.2019

February 28, 2019 1281 Views 0 comment Print

In exercise of the powers conferred by sub-section (2) of section 1 of the Personal Laws (Amendment) Act, 2019 (6 of 2019), the Central Government hereby appoints the 1st day of March, 2019 as the date on which the provisions of the said Act shall come into force.

Promotion of 70 officers in the grade of ACIT on ad-hoc basis

February 28, 2019 5433 Views 0 comment Print

Office Order No. 43 of 2019The President is pleased to appoint the following Income Tax Officers, presently posted in the region shown against their names. in the grade of Assistant Commissioner of Income Tax (ACIT) on ad-hoc basis for the vacancy year 2018 in the Level 10 in the pay matrix Rs. 56100-177500/- for a period of one year with immediate effect or until further orders, whichever is earlier.

Panel to overhaul Direct Tax law seeks 3 months extension

February 28, 2019 1191 Views 0 comment Print

The term of the Task Force is extended by three months, i.e., the Task Force shall now be required to submit its report by 31 .05.2019.

Tariff Notification No. 18/2019-Customs (N.T.) Dated 28.02.2019

February 28, 2019 969 Views 0 comment Print

Tariff Notification No. 18/2019-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 18/2019-CUSTOMS (N.T.) New Delhi, Dated: 28th February, 2019 9 Phalguna, 1940 (SAKA) S.O. […]

PF is applicable on Basic salary plus Special allowances except HRA: SC

February 28, 2019 209490 Views 10 comments Print

Regional Provident Fund Commissioner Vs. Vivekananda Vidyamandir and Others (Supreme Court) Basic wage, would not ipso­facto take within its ambit the salary breakup structure to hold it liable for provident fund deductions when it was paid as special incentive or production bonus given to more meritorious workmen who put in extra output which has a […]

HC passes severe strictures against DCIT for illegal tax recovery

February 28, 2019 2004 Views 1 comment Print

The court ordered the refund due for AY 1993-94 and 1995-96 to be granted to the assessee along with appropriate interest and also ordered a sum of INR 1.50 Lakhs to be paid to the assessee on account of inefficiency and lapse on the part of the department.

Govt notifies part-time members of NFRA wef 28th February, 2019

February 28, 2019 810 Views 0 comment Print

Central Government hereby appoint the following persons as part-time members of National Financial Reporting Authority (NFRA) with immediate effect,

Exposure Draft of Definition of Material Amendments to Ind AS 1 and Ind AS 8

February 28, 2019 3876 Views 0 comment Print

Following is the Exposure Draft of the Amendments to Ind AS 1, Presentation of Indian Accounting Standards, and Ind AS 8, Accounting Policies, Change in Accounting Estimates and Errors, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India for comments.

Definition of a Business Amendments to Ind AS 103

February 28, 2019 2667 Views 0 comment Print

Following is the Exposure Draft of the Amendments to Ind AS 103, Business Combinations, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India for comments.

Exposure Draft Revised Guidance Note on Accounting of Political Parties

February 28, 2019 645 Views 0 comment Print

During the year 2012, ICAI had issued a Guidance Note on ‘Accounting and Auditing of Political Parties’ as desired by the Election Commission of India. The Guidance Note is now being upgraded to incorporate certain improvements and changes in the operating environments since then. It has also been decided to issue the guidance for Auditing of Political Parties separately in detailed manner, if required.

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