Notification No. 57/2020-Customs (N.T./CAA/DRI) Dated; 16.10.2020- Appointment of Common Adjudicating Authority MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) (Directorate of Revenue Intelligence) New Delhi, the 16th October, 2020 NOTIFICATION No. 57/2020-Customs (N.T./CAA/DRI) S.O. 3662(E).—In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4thJune 2015 in […]
Notification No. 56/2020-Customs (N.T./CAA/DRI) Dated; 16.10.2020- Appointment of Common Adjudicating Authority. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) (Directorate of Revenue Intelligence) New Delhi, the 16th October, 2020 Notification No. 56/2020-Customs (N.T./CAA/DRI) S.O. 3661(E).— In pursuance of notification No. 60/2015-Customs (N.T.),, published vide number G.S.R. 453(E), dated 4th June […]
Any coercive or intrusive action for recovery of tax demands should be taken only after exhausting alternative means of recovery as mentioned in Para 2((i) of Board’s letter F.No. 275/29/2020-(IT(B) dated 21st September, 2020.
The recent CBDT circular on extension of due date for assessees required to get their accounts audited u/s 44AB has brought to light many things. Once such thing is the implication for assessees having having turnover less than Rs. 1 crore and having Net loss from business.
Kisan Vikas Patra is one of the most famous investment schemes in India. The main reason is the feature of this investment in which the money invested will get doubled at the end of the maturity period. In December, 2019 fully new Kisan Vikas Patra Scheme, 2019 w.e.f. 12th December, 2019 vide notification No. G.S.R. […]
The treatment of deferred tax charge in determining the tax liability under the special provisions of Section 115JB of the Income-Tax Act is one such case. Section 115JB levies minimum alternate tax (MAT) at 10% of book profits (plus surcharge and cess thereon) if such tax is higher than the tax payable under the normal provisions of the Act. Book profits, for this purpose, needs to be calculated by making certain specified adjustments to the net profit as shown in the profit & loss account prepared in accordance with the Companies Act and after taking into account accounting policies and accounting standards adopted for preparing such accounts.
The water mark printed on the ITR V in English states Income Tax Department and in Hindi it states ‘KOSH MULO DAND‘. If translate income tax department in Hindi it will be AYAKAR VIBHAG and translation of ‘KOSH MULO DAND’ in Layman Language is as follows :- KOSH – Fund MULO – Principal / Main DAND – […]
It has been decided to rationalise the risk weights, irrespective of the amount. The risk weights for all new housing loans to be sanctioned on or after the date of this circular and upto March 31, 2022 shall be as under:
Assistant Commissioner of CGST and Central Excise Vs Sutherland Global Services Private Limited (Madras High Court) Whether the Assessee is entitled to utilise and set off the accumulated unutilised amount of Education Cess (EC), Secondary and Higher Education Cess (SHEC) and Krishi Kalyan Cess (KKC), all jointly referred to as the “Cess” against the Output […]
Court under Section 260A would not interfere with the Tribunal’s finding of fact could not be applied to the facts of case because the Tribunal did not record any finding of fact that the finding of fact recorded by AO was erroneous and not borne out by records. Thus, the order passed by Tribunal for not calculating the undisclosed income was set aside
