CBDT has issued a directive in which it has stated that With respect to such quality assessment orders, the Pr.CIT shall ensure that they are properly marked as Quality orders and are duly represented before the CIT(A) by the Department.
CBDT has vide Office Order Nos. 26 of 2019 and 27 of 2019, dated 14th February 2019 extended the ad-hoc appointment of 241 IRS officers to the grade of Joint Commissioner of Income-tax No.A-32012/3/2017-Ad.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi. New Delhi, the […]
AN OVERVIEW ON COMPANIES (AMENDMENT) ORDINANCE, 2018 Provision of declaration for commencement of business re-introduced. Name of company can be removed if not complied with. In many routine matters, ‘fine’ or ‘imprisonment’ converted into ‘Penalty’, which can be imposed directly by RD or ROC after issuing SCN. Removal of name if company if subscription amount […]
Tribunal had passed order u/s 254 (1) beyond one day beyond 90 days prescribed under the Rule 34(5)(c) from the date of conclusions of its hearing and the delay had resulted in prejudice to assessee hence, the order being not sustainable and restored for fresh consideration.
Addition made by AO was justified with regard to introduction of bogus share capital in the form of accommodation entries as the transactions done were clearly sham with excellent paper work to camouflage their bogus nature.
Under the newly introduced Companies (Amendment) Ordinance 2018, all companies registered in India after the commencement of the Companies (Amendment) Ordinance, 2018 and having a share capital is required to obtain commencement of business certificate before commencing any business or exercising any borrowing powers. Since The Companies (Amendment) Ordinance 2018 was introduced in November 2nd 2018, any […]
Understanding the requirement of issuance of a debit note or credit note, in simple terms, means when the goods being supplied are returned back or when there is any revision in the invoice value, the debit note or credit note is being issued by the supplier and the receiver of the goods / services. The provisions […]
1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette.
Specified Reverse Charge Under GST (As Updated Till 31-Jan-2019 )- Under Reverse charge mechanism recipient of the goods and/or services is liable to pay GST instead of the supplier. As per the provisions of section 9(3) of CGST / SGST (UTGST) Act, 2017 / section 5(3)of IGST Act, 2017, the Government may, on the recommendations […]
As we are progressing towards a world full of process automation, the use of new technology to make the accounting and return filing process integrated, accurate and less time consuming is becoming a reality much faster. This does not mean that it will do away the need of humans in processing, but will surely automate […]
