International Financial Services Centres Authority Circular F. No. 722/IFSCA/Banking/2022-23/1 | Dated: September 19, 2022 To, All IFSC Banking Units Madam / Sir, Sub: Reporting of Transactions for India’s External Account Statistics 1. The Balance of Payment (BOP) and International Investment Position (IIP) Manual – Sixth Edition (BPM6) of the International Monetary Fund (IMF) provides a statistical framework […]
Ensure Compliance: Offering freebies to doctors may lead to serious consequences under Section 37(1) of the Income Tax Act. Any expenditure deemed an offense or prohibited by law is disallowed in income computation. The legal implications and disallowance criteria are clearly outlined. Stay informed with Circular No. 5/2012, emphasizing the inadmissibility of expenses related to freebies provided to medical practitioners.
HC held that the power to confiscate goods is a distinct and independent power conferred under CGST Act, 2017 which can be exercised only in cases where power to detain and seize has not been invoked.
NFRA imposes monetary penalty of Rs Five Lakhs upon CA Rajiv Bengal In addition he is debarred for Five years from being appointed as an auditor or internal auditor or from undertaking any audit in respect of financial statements or internal audit of the functions and activities of any company or body corporate.
Office Order No. 204 of 2022, Dated: 19.09.2022 transfer/postings of 155 officers in the grade of Principal Commissioner of Income Tax/ Principal Director of Income Tax (Pr. CIT/Pr. DIT). F.No.A.22011/4/2022-Ad.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi -110 001 Office Order No. 204 of […]
It seems that MCA frequently amending the definition of Small Company to provide many advantages to Corporates. This move of MCA is expected to lighten the compliance burden of about 400,000 companies in India.
Denial of pension is a continuing wrong. This Court cannot also be oblivious to the difficulties of a retired employee in approaching the Court, which could include financial constraints.
Office Order No. 203 of 2022-Income Tax Dated: 19.09.2022 on transfer/postings of 83 officers in the grade of Chief Commissioner of Income Tax/ Director Generals of Income Tax (CCIT/DGIT). F. No. A-22011/3/2022-Ad-VI (Pt.I) Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi -110 001 Office Order […]
ITAT held that merely for not producing the cash creditors before the Ld. AO even when all the necessary documents as required to prove the identity, creditworthiness and genuineness of the cash creditors are furnished by the assessee, cannot be a reasonable basis to make addition for unexplained cash credit u/s 68 of the Act.
Whether revocation of cancellation of GST registration can be allowed even after the statutory time limit given and extended time limit by authority has been expired due to Covid-19 Pandemic all over the world?
