"05 March 2019" Archive

Exemption to startup companies from angel tax w.e.f. 19.02.2019

Notification No. 13/2019 (05/03/2019)

CBDt has vide Notification No. 13/2019 granted exemption to startup companies from angel tax w.e.f. 19.02.2019 if such companies fulfill the conditions specified in para 4 of the notification number G.S.R. 127(E), dated the 19th February, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 13...

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SSI/MSME/Udyog Aadhar Registration

MSME is the short form for Micro Small Medium Enterprises. It is also called as Small Scale Industry (SSI). It is an Act called as MSMED Act, also Micro, Small and Medium Enterprises Development Act, 2006 for the growth of the small business upto the investment for 10 crores in manufacturing sector and 5 crores in […]...

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Posted Under: Income Tax |

आयकर रिटर्न भरने में ये 8 गलतियां भिजवा सकती है नोटिस

इनकम टैक्स रिटर्न (आईटीआर) फाइल करने में सावधानी जरूरी है. आईटीआर की छोटी सी गलती भी आपके लिए बड़ी परेशानी बन सकती है. इनकम टैक्स रिट...

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Posted Under: Income Tax |

Joint Development Agreements (JDAs): Income Tax Perspective

Joint Development Agreement (JDA) means an agreement or arrangement between the landowner and the developer wherein the land owner contributes the land to the project and the developer undertakes the construction/development of the said land into a developed estate, at mutually agreeable terms and conditions. ...

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Posted Under: Income Tax |

NAA found builder Guilty of profiteering for not passing ITC benefit

Shri Ashok Khatri Vs M/s S3 Infra Reality Pvt Ltd (NAA)

Shri Ashok Khatri Vs M/s S3 Infra Reality Pvt Ltd (NAA) From the documents placed on record and the DGAP’s report it is evident that the Respondent has sold 780 units out of 816 residential units, out of which for 29 units there was no consideration paid after introduction of GST, hence the profiteered amount […]...

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Writ Petitions on Safeguard Duty on ‘Solar cells whether or not assembled in modules or panels’ -reg

F.No.276/206/2018-CX.8A (05/03/2019)

Since number of petitions on similar issue have been filed in various High Courts throughout the country, the undersigned has been directed to request you that Hon’ble High Courts may please be apprised of the fact that the similar issue is sub-judice before the Hon’ble Supreme Court, so that any adverse interim/final order by the res...

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RFP for Appointment of Audit firm for conducting Internal Audit & ICFR with BOB Financial Solutions Ltd

BOB Financial Solutions Limited invites sealed tender offers (Eligibility, Technical bid and Commercial bid) from eligible, reputed entities for RFP for Appointment of Audit firm for conducting Internal Audit & ICFR...

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Posted Under: Income Tax |

Demystifying Banning of Unregulated Deposit Schemes Ordinance, 2019

The Banning of Unregulated Deposits Scheme Ordinance puts a check on illicit deposit schemes that dupe investors and does not prohibit any schemes regulated by statutory authorities as mentioned in Column – 3 of the First Schedule to the Ordinance....

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Posted Under: Income Tax |

Complete Assessment of case of substantial cash deposit during demonetisation by 30.06.2019

No. 225/363/2017-ITA.II (05/03/2019)

SOP for handling of cases related to substantial cash deposit during the demonetisation period in which notice under section 142(1) of the Income-tax Act, 1961 has not been complied-regd.-...

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Rental Income from Sublease of Office Premises to be Considered for Section 10A Benefit

Subex Limited Vs. ITO (Karnataka High Court)

Subex Limited Vs. ITO (Karnataka High Court) Facts of the case: Subex Limited (taxpayer), a public limited company, is engaged in the business of development and export of software. The taxpayer is a 100% Export Oriented Unit (EOU) approved by the Software Technology Park of India (STP). The taxpayer had entered into a non-cancelable leas...

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