NOTIFICATION No. 36/2019-Customs (N.T./CAA/DRI) Principal Director General, Revenue Intelligence, hereby appoints officer mentioned in column (5) of the Table below to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on officers mentioned in column (4) of the said Table in respect of noticees mentioned in column (2) of the said Table for the purpose of adjudication of show cause notices mentioned in column (3) of the said Table, namely:-
Accounting for Inventories AS-2 Valuation of Inventories IAS-2 Inventories INDAS-2 Inventories Important Points are as follows 1. Matching Concept is the relevant concept for Inventories 2. Definition Inventories Consists of the following Held for sale in the ordinary course of business(finished goods) In the process of production of such sale(raw material and work-in-progress) In the […]
MCA has amended the Companies (Appointment and Qualification of Directors) Rules, 2014 w.e.f. July 25,2019 and brought certain amendments in filing of form DIR-3 KYC by providing Web-based verification service for the Directors who have been allotted Director Identification Number (DIN). Hence, introducing Web-based DIR-3 KYC. Directors and professionals need not fill in the same information again that […]
When the commission paid to the non-resident agents was neither received or deemed to be received in India nor accrued or was deemed to accrue in India, no income was chargeable to tax under the provisions of the Act. When the payment made by assessee to the overseas agent for services rendered abroad was not income chargeable to tax in India, there was no obligation cast upon assessee to deduct tax at source under section 195 and consequently, the provisions of section 40(a)(ia) would not be attracted.
THE UNLAWFUL ACTIVITIES (PREVENTION) AMENDMENT ACT, 2019 received the assent of the President on the 8th August, 2019. It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
One of the most fascinating issues currently, is the classification, segmentation and prioritisation of creditors under the IBC Code. The intent of the legislature as reflected in the preamble of the Code, was to ensure availability of credit and balance interest of all stakeholders including alteration of the priority of order of recovery.
THE CODE ON WAGES, 2019 is An Act to amend and consolidate the laws relating to wages and bonus and matters connected therewith or incidental thereto.
CBDT has inserted section 80IBA by Finance Act, 2016.The provisions of this sections are designed in such way that, it will help to achieve a goal of Housing for All by 31 March 2022.
Why Audit ? Whenever I start thinking of undertaking any kind of audit, a sense of exasperation and a little bit of despondency creep into me. Despondency because I will have to displease people again and again, exasperation because there will be unnecessary but obvious arguments not based on facts and logic but backed by […]
Dharmraj Prasad Bibhuti Vs ITAT, Patna (Patna High Court) Section 132 (4A) of the I.T. Act provides that where any books of Accounts, other documents, money etc. is found in possession or control of any person in course of search, it may be presumed that the same belongs to such person. It is apparent from […]
