Topics deleted from CA Foundation syllabus for November 2021 exams and onwards ICAI issued a notification, on 05 June 2021, regarding deletion of certain topics from the CA Foundation syllabus. This is for the kind Information of the students appearing for November 2021 examination and onwards at the Foundation Level. Paper-3: Business Mathematics. Logical Reasoning […]
Interest Liability on the amount paid through Electronic Cash Ledger shall be applicable retrospectively from 01.07.2017 Notification No. 16/2021 – Central Tax Section 112 of the Finance Act, 2021 shall be effective from 01.06.2021 As per Section 112 proviso shall be substituted and shall be deemed to have been substituted with effect from the 1st […]
Brief outline: The ESOP refers to ‘a plan’ for the benefit of the Employees of a Company, who make the Companies operational, profit centres and socially-economically enormous, this is not limited to big known companies but is also common with the small companies; newly incorporated companies. This plan has become famous and appreciated over the […]
Kimiyoshi Muto Vs DCIT (ITAT Delhi) The case of the assessee was re-opened under Section 147 of the Act on the ground that the assessee has shown perquisite under rent-free accommodation by considering only the Indian salary whereas, according to the Assessing Officer, he was required to compute perquisite value of rent-free accommodation by including […]
SBI clarified to the entities that they need not visit Delhi and instead they can visit any branch of their choice near to them for opening of FCRA Accounts.
Onus was on Revenue to show that the incriminating material/documents recovered at the time of search ‘belongs’ to the Assessee, in other words, it was not enough for the Revenue to show that the documents either ‘pertain’ to the Assessee or contains information that ‘relates to the Assessee.
Armada D1 Pte. Ltd. Vs DCIT (Bombay High Court) Notice under Section 148 stayed by Bombay High Court in view of conflict between new Income Tax Provisions for reopening of Assessment with Old Provisions On 3rd June Bombay High Court has stayed the operation of Notice under Section 148 dated 7th April 2021 for Assessment […]
Finance Act 2021 has introduced a new Section in TDS – Section 194Q TDS on Purchase of Goods, which will be coming into effect from 1st July 2021. This new Section is quite complicated and will definitely demand some extra efforts from Accountants and Professionals. Earlier since October 2020, a new provision of TCS was introduced […]
CA exams appear nearly within less than a month from now. I wish to share my study plan to help you with some tips to manage your studies/revision carefully and in a planned manner. Firstly, plan your studies for at least 15 days in advance. Distribute your subjects into no. of days. For e.g. 4 […]
In this article, we will discuss everything about the defective income tax returns. Meaning: Defective return is the return of income which is rejected by the Income Tax Department due to certain defects. After the defects being identified by the department, a notice under section 139(9) is issued to assessee. First of all, there is […]
