"October, 2019" Archive - Page 4

AO justified in sending notice at address mentioned in PAN database

PCIT Vs. M/s I­-Ven Interactive Limited (Supreme Court)

Mere mentioning of the new address in the return of income without specifically intimating the Assessing Officer with respect to change of address and without getting the PAN database changed, is not enough and sufficient....

Read More

DISRUPTION. Is it happening in your organisation? let’ think and Overcome

DISRUPTION. Is it happening in your organisation? let’ think and Overcome. What is disruption? Why it is so much in vogue nowadays? What all type of Disruption currently we are facing? Will its effect continue for long? Why we are not able to overcome this? By the definition disruption simply means disturbance or problems which int...

Read More
Posted Under: Income Tax |

Disallowance U/s. 40(a)(ia) cannot be made for non-compliance with requirements of Section 194C(7)

CIT Vs M/s. Sri Parameswari Spinning Mills Private Limited (Madras High Court)

Whether the Tribunal is correct in not confirming the disallowance under Section 40(a)(ia) made by the Assessing Officer when the assessee did not comply with requirements of Sub-Section 7 of Section 194C read with Rule 31A?....

Read More

Seats for railway coaches classifiable under Heading 9401, taxable @ 18% GST: AAR

The Hon’ble AAR, Punjab in the matter of M/s. Sutlej Coach Products Pvt Ltd. held that Seats for Railway Coaches supplied to Rail Coach Factory falls under Heading 9401, liable to GST at 18%, and cannot be classified at 5% under HSN 8607 as parts of Railway....

Read More
Posted Under: Income Tax |

CCI receives combination notice under green channel scheme

CCI receives combination notice under green channel scheme, relating to acquisition of equity stake in Hero Future Energies Global Ltd and non-voting compulsorily convertible preference shareholding in Hero Future Energies Private Ltd. by Abu Dhabi Future Energy Company P.J.S.C. - Masdar, on 28th October, 2019....

Read More
Posted Under: Income Tax |

Overseas Citizen of India can enroll in NPS at par with NRIs

Pension Fund Regulatory and Development Authority (PFRDA) has now permitted Overseas Citizen of India (OCI) to enroll in National Pension Scheme (NPS) at par with Non-Resident Indians vide Circular No: PFRDA/2019/19/PDES/3 dated 29th October 2019....

Read More
Posted Under: Income Tax |

Identifying a lease under Ind AS 116: Leases

The assessment of whether a contract is or contains a lease is the biggest practical issue while applying Ind AS 116. This assessment is required right at the inception of the contract. In most of the cases, the assessment is likely to be straightforward and contracts which are classified as lease contracts under Ind AS 17 are likely to c...

Read More
Posted Under: Income Tax |

Section 54EC Deduction cannot be disallowed for Investment not made with in prescribed time due to non-availability of REC Bonds

Heatex Products P. Ltd. Vs DCIT (ITAT Mumbai)

The claim of deduction under section 54EC could not be disallowed since assessee has demonstrated that non–investment in REC Bonds within the stipulated period was due to non–availability of bonds in the market....

Read More

Re-Issuance of Income Tax Refund – How to Submit Request Online

Now, the ITR Filing season is almost over and assesses are receiving Intimation U/s 143 (1) of Income Tax Act, 1961 related to their filed ITR. This time focus of the Income Tax Department is on the issuance of Income Tax Refund as soon as possible. And assesses who have claimed a refund in their […]...

Read More
Posted Under: Income Tax |

Registration under GST – Detailed Analysis

Introduction > Registration is a basic requirement to run the net work of GST. > Registration is an Authority available to the Registered Person to collect tax on behalf of the Government. > Registration is a source by which the Registered Person can claim input Tax Credit. > Seamless flow of Input Tax Credit among […]...

Read More
Posted Under: Income Tax |

Search Posts by Date

June 2021
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
282930