"14 August 2019" Archive

DIN mandatory for all Income Tax Notices etc wef 01.10.2019

Circular No. 19/2019-Income Tax 14/08/2019

No communication shall be issued by any income-tax authority relating to assessment, appeals, orders, statutory or otherwise, exemptions, enquiry, investigation, verification of information, penalty, prosecution, rectification, approval etc. to the assessee or any other person, on or after the 1st day of October, 2019 unless a computer-ge...

CCI penalises Electric Power Steering Systems suppliers cartel for Price-Fixing

NA 14/08/2019

The case was initiated on the basis of an application received by the CCI under Section 46 of the Competition Act, 2002 (the ‘Act’) read with Competition Commission of India (Lesser Penalty) Regulations, 2009 (‘LPR’), from NSK/ RNSS. Thereafter, during the pendency of investigation, JTEKT/ JSAI also approached the CCI by filing an...

Clarification on amendment in Section 44AE of Income Tax Act, 1961

F.No. 225/233/2019/ITA-II 14/08/2019

Which of the following has to be considered while calculating the presumptive income under section 44AE of the Income-tax Act.1961 (Act) in the context of amendment made in sub-section (2) of section 44AE of the Act vide Finance Act, 2018 w.e.f. 01.04.2019....

Key recommendations of Competition Law Review Committee report

Report of the Competition Law Review Committee submitted to Union Finance and Corporate Affairs Minister Key recommendations include introduction of a ‘Green Channel’ for combination notifications to enable fast-paced regulatory approvals of mergers and acquisitions Shri Injeti Srinivas, Secretary (Corporate Affairs), today presented ...

Posted Under: Income Tax |

Last day to Convert from CPT to CA Foundation extended to 07.09.2019

The last date of conversion from CPC to Foundation Course was 16th August, 2019 and considering the hardship being faced by students in converting themselves from CPC to Foundation Course, it has been decided by the Competent Authority that the last date of conversion is extended from 16th August, 2019 to 7th September, 2019 for appearing...

Posted Under: Income Tax |

GSTR 2A Spaces & Bold Character Removing Advanced Excel Tool

It’ is almost time to GSTR Annual Return. GST Input Reconciliation is take major time to match with we availed inputs. While Downloading GSTR 2A from GSTN portal, Data downloaded with is Bold characters (Total) and space Contents. We cannot start to reconcile with this data’s due to look up or copying is not able […]...

Posted Under: Income Tax |

GSTR 9 – Kit For Starters

Hello, looking to lesser number of filling GSTR 9, I would like to give some inputs which might motivates to those who have yet not started filling GSTR 9.    Even for all those who are struggling anywhere in GSTR 9. A. What Is The Barometer For Comparison While Filling GSTR 9?  It’s always Books. If […]...

Posted Under: Income Tax |

No Exemption from MAT as Assessee is a developer not having any unit in a SEZ

Gee City Builders (P) Ltd. Vs DCIT (ITAT Chandigarh)

Assessee was not eligible for exemption from payment of MAT as per the provisions of section 115JB(6), since, admittedly, it did not qualify as a business or services rendered by an entrepreneur or developer in a unit or SEZ as per definition of the said terms in the SEZ Act....

The importance of term plans in financial planning

Most of us hear about term plan often but aren’t much aware of what exactly it is. A term plan is basically a type of life insurance which offers coverage for a period of time to the policyholder. In case of demise of the insured over the tenure of the policy, a sum assured is […]...

Posted Under: Income Tax |

Canara HSBC OBC Life Insurance Company

Canara HSBC OBC Life Insurance Company is a JV of two of country’s largest public sector banks and has vast network offering a wide range of life insurance solutions, plans suited for meeting individual’s personal requirement. The company offers complete protection to the policyholder and his family in case of an unanticipated event. ...

Posted Under: Income Tax |

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