Extract of Section 200 of Income Tax Act, 1961 Section 200(1) & (2) Time Limit for Deposit of Tax Deducted at Source 200. (1) Any person deducting any sum in accordance with the foregoing provisions of this Chapter shall pay within the prescribed time, the sum so deducted to the credit of the Central Government […]
In pursuance of rules framed under section 199 of the Income Tax act, credit for tax deducted at source shall be given to the deductee for the assessment year for which such income is assessable. -Where tax has been deducted at source and paid to the Central Government, and the income is assessable over a […]
Extract of Section 198 of Income Tax Act, 1961 Section 198 Tax Deducted at Source shall be deemed to be income received 198. All sums deducted in accordance with the foregoing provisions of this Chapter shall, for the purpose of computing the income of an assessee, be deemed to be income received : Provided that the […]
ICAI Handbook On Moratorium Under The Insolvency And Bankruptcy Code, 2016 The Insolvency and Bankruptcy Code, 2016 in India has been in implementation phase over the last four years. Being a unitary codified legislation, it has several distinctive features which are essential to achieve the enshrined mandate of the Code which includes time bound resolution […]
ICAI Handbook on Corporate Insolvency Resolution Process under The Insolvency and Bankruptcy Code, 2016 The implementation of the Corporate Insolvency Resolution Process (CIRP) under The Insolvency and Bankruptcy Code, 2016 began when the provisions relating to insolvency and liquidation of corporate persons came into force on December 2016, thus paving the journey of the Code […]
ICAI Handbook on Personal Guarantors to Corporate Debtors under The Insolvency and Bankruptcy Code, 2016 The Insolvency and Bankruptcy Code, 2016 was implemented with the provisions relating to insolvency and liquidation of corporate persons coming into force in December 2016. Implementation of individual insolvency and bankruptcy was intended to be notified in a phased manner […]
ICAI Handbook On Resolution Plan Under The Insolvency and Bankruptcy Code, 2016 The Insolvency and Bankruptcy Code, 2016 (IBC) has been introduced with the overall objective of promoting entrepreneurship and balance the interest of all stakeholders by consolidating and amending the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals […]
When Appeal is filed with pre deposit, then the department cannot initiate recovery proceedings and cannot attach bank account of the assessee in view of Circular No 984/08/2014-CX dated 16th September, 2014
The ICAI, on July 08, 2021 has notified the revised Form 18 i.e. disclosure of particulars relating to office and firms under the Chartered Accountants Regulations, 1988 through Notification No. 1-CA(7)/197/2021, dated July 8, 2021 the ‘Chartered Accountants (Amendment) Regulations, 2021. With the change in form 18, CA firms are now allowed to have partnership […]
