Demanding details pertaining to the bank account of a person and of remittances made to the Income Tax Department towards discharge of tax liability shall amount to infringement of Right to Privacy, therefore, assessee was not bound to furnish their income tax returns and the bank account statements, as a condition for continuing the petroleum retail dealership granted to them.
B.R. Associates Pvt. Ltd. Vs ACIT (ITAT Delhi) In absence of adverse material found during search, no addition could be made merely on the basis of statement recorded under section 132(4) of Income Tax Act, 1961 which did not constitute conclusive evidence and having been given under pressure was immediately retracted. Additions made u/s 153A […]
CBDT has released the synthesised text for India-UAE tax treaty. It represents their shared understanding of the modifications made to the Agreement by MLI.
Extension of the last date for submission of examination application forms in respect of CA exams to be held in November 2019, for candidates in J & K only
Most individuals begin tax planning when the due date for settling income tax return is fast approaching. However, it is encouraged that you start your tax planning earlier as it gives you more time to make a good estimate of your income and gains.
FAQs issued by UDIN Monitoring Group of ICAI Dated 2nd September,2019 1. If UDIN could not be generated at the time of signing the Audit Reports/Certificates, what steps should I follow? It is mandatory to generate UDIN while signing the Audit Reports/Certificates/Document. However, if any member is unable to generate UDIN as desired above, it […]
Steering Committee on Fintech related issues submits its Final Report to Finance Minister The Steering Committee on Fintech related issues constituted by the Ministry of Finance, Department of Economic Affairs, today submitted its Final Report to Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman in her office in New Delhi. The Committee was constituted […]
When it comes to taxation law it becomes very important because it is taxable event under GST for that purpose first we need to understand the meaning of supply under GST. It is a deciding criterion for imposing GST whether a particular transaction falls under the diameter of taxable event or not.
UCO Bank invites online applications from practicing firms of Chartered Accountants within India, in the prescribed format, who are willing to have their firms empanelled as Concurrent Auditors of the Bank.
Interest income derived by assessee, co-operative society from its investments held with a co-operative bank, was entitled for claim of deduction under section 80P(2)(d) as for the purposes of section 80P(2)(d) of the Act, Cooperative Bank Ltd shall be treated as a co-operative society.
