CMA Biswarup Basu, President, The Institute of Cost Accountants of India informed that the International Affairs Committee of the Institute, with the objective of enhancing the recognition and professional opportunities for its students and members across the globe had engaged UK NARIC (National Recognition Information Centre in United Kingdom) to conduct an independent benchmarking study for evaluating the comparability of the CMA Intermediate and Final Course in the context of the UK and UAE education systems.
Chapter XIX-A of the Act pertains to settlement of cases. Under sub-section (1) of section 245C of the Act, an assessee at any stage of a case relating to him can make an application for settlement in the prescribed manner.
Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) Gujarat High Court heard petition for extension of due dates in TAR and ITR for A Y 2020-21 on today. Court issued notice and fix next hearing on tomorrow. FULL TEXT OF THE HIGH COURT ORDER/JUDGEMENT Heard Mr. S. N. Soparkar, learned Senior […]
Extension in the provision of making e-MSOP accessible to eligible students by relaxing the criterion of two years’ time bar up to 31.03.2021 The Institute Of Company Secretaries India ICSI/TRG/12/2020 30.12.2020 Circular No. Trg-08/2020 Department of Training Subject: Extension in the provision of making e-MSOP accessible to eligible students by relaxing the criterion of two […]
Extension of Last date for submitting the training Quarterly reports (4th Quarter) of trainees up to 31.03.2021 Institute of Company Secretary of India ICSI/TRG/12/2o2o 30.12.2020 Circular No. Trg- 09/2020 Directorate of Training Subject: – Extension of Last date for submitting the training Quarterly reports (4th Quarter) of trainees up to 31.03.2021 This is in continuation […]
Sir Dorabji Tata Trust Vs DCIT (ITAT Mumbai) IT held that At page 60-61 of its order dated 28th December, 2020, certain observations were made about Mr Cyrus Mistry. One fact, which was inadvertently missed out, was that the information furnished by Mr Mistry was in response to a notice. Under these circumstances, the observations […]
Deduction VS Exemption Deduction & Exemption are two Synonyms words in first appearance but has vital difference at length in Income Tax Act. Deduction means subtraction of an amount from the SUM of Income which is already have under different heads of Income. Whereas Exemption means the whole income itself is exempt from tax. In […]
Commission Agents Represent Companies and provide Services and Liaisons to Assist Businesses to Expand. Commission Agents, generally are well versed in the Specific Industry Product or Services and are Subject Experts having Solid Reputation and Wide Network of Contacts in the industry; Substantial Marketing Experience for Reaching a Targeted Demographic Region. A commission Agent can have […]
The CBIC vide Notification No. 94/2020-Central Tax, dated December 22, 2020 has issued Central Goods and Services Tax Rules (Fourteenth Amendment), 2020, inter alia, amending Rule 138 of the Central Goods and Services Tax Rules, 2017 (CGST Rules), w.e.f. January 1, 2021, in following manner Rule 36, Input Tax Credit restriction on invoices not furnished by vendor in their Form GSTR […]
Seven Reporting Clauses in Tax Audit Report (Form 3CA/CB read with 3CD) causing Dilemma & Hardships for Tax Auditor & Auditee, if Tax Audit Due Date for AY 2020-21 remains 31.12.2020 All of us know that presently the Tax Audit due date for AY 2020-21 is 31.12.2020 and the due date for filing of Returns […]
