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Archive: 09 September 2019

Posts in 09 September 2019

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6354 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19380 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Relaxation of time-Compounding of Offences under Direct Tax Laws-One-time measure-Reg

September 9, 2019 5205 Views 0 comment Print

CBDT has been issuing guidelines from time to time for compounding of offences under Direct Tax Laws, prescribing eligibility conditions. One of the conditions for filing of Compounding application is that, it should be filed within 12 months from filing of complaint in the court.

Procedure to identify & process Income Tax cases for prosecution

September 9, 2019 18153 Views 0 comment Print

Prosecution is a criminal proceeding. Therefore, based upon evidence gathered, offence and crime as defined in the relevant provision of the Act, the offence has to be proved beyond reasonable doubt. To ensure that only deserving cases get prosecuted the Central Board of Direct Taxes in exercise of powers under section 119 of the Act lays down the following criteria for launching prosecution in respect of the following categories of offences.

What are the most important new Reportings in ITR for AY 2019-20?

September 9, 2019 11706 Views 1 comment Print

CBDT notifies new ITR’s and brings changes in the Income Tax Return and the and requires new information from the taxpayers. Like each year, this year also CBDT has brought about new reporting requirements in the Income Tax Returns.

How your Life Insurance can provide Tax Benefits to you

September 9, 2019 3273 Views 0 comment Print

Discover how life insurance can provide tax benefits and financial protection for your family. Learn more about the importance of life insurance policies.

The Pros of Offering Employee Health Care Benefits

September 9, 2019 1218 Views 0 comment Print

As a business owner, you have to make many decisions related to your business, from how to market your products to how to deal with your employees. One employee-related decision is what employee benefits you will offer, from paid overtime to health care benefits. While there are many ways of ensuring that your employees are […]

TDS not deductible on Software Purchased with mere ‘right to use’ 

September 9, 2019 30063 Views 0 comment Print

Assessee had only purchased software internally developed by non-resident and non-resident had not passed the copyright and only ‘right to use’ had been given to assessee and as such ‘right to use’ was akin to purchase of copyrighted article and in the absence of purchase of any copyright in the article, the assessee could not be held liable to deduct tax at source out of such payments.

Consider Net Interest expenses for section 14A disallowance: ITAT Delhi

September 9, 2019 1416 Views 0 comment Print

DCIT Vs M/s. DLF Assets Pvt. Ltd. (ITAT Delhi) On the aspect of disallowance made by the Ld. AO by invoking the provisions u/s 14A of the Act r/w Rule 8D (2) (ii) of the Rules, it is the submission of the Ld. AR that the interest expenses net of interest income may be considered […]

Aadhaar data cannot be shared : CIC

September 9, 2019 1008 Views 0 comment Print

Explore the legal battle: Anupam Saraph vs. UIDAI. The dispute over Aadhaar data security, personal information, and disclosure regulations. Central Information Commission’s decision analyzed.

L&T Case: Classic example of change of opinion

September 9, 2019 4410 Views 0 comment Print

The assessee had challenged reopening of assessment on two grounds. The CIT(A) had accepted the arguments of the assessee, in light of provisions of section 147 of the Act, and the assessment order passed by the AO u/s 143(3) of the Act, dated 29/12/2018 and came to the conclusion that the assessment has been reopened on change of opinion without there being any tangible material, in the possession of the AO, which suggest escapement of income.

Report of Committee on Development of Housing Finance Securitisation Market

September 9, 2019 576 Views 0 comment Print

The key recommendations of the Committee, guided by the broad perspective of enhancing efficiency and transparency of securitisation transactions, are as follows: setting up of a government sponsored intermediary, through the National Housing Bank, to enable market making and standard setting;

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