Assessee was not entitled to claim long term capital gain as exempt u/s 10(38) and the same was deemed to be income under section 69A as it was revealed that purchase and sale of shares were arranged transactions by assessee to create bogus profit in the garb of tax exempt long term capital gain by well organised network of entry providers with the sole motive to sell such entries to enable the beneficiary to account for the undisclosed income for a consideration or commission.
Shared Economy is essentially an economic model that facilitates sharing of goods and services over an online platform. It may exist in two forms- a commercial model which allows customers and suppliers to get in touch to obtain goods and services ( Uber and Airbnb), and a charity model in which goods and services are provided for free or subscription or people are put directly in touch with the beneficiaries of such a model (Ketto).
If you are planning to buy a new vehicle then a car loan can help you finance that. Today, it is quite easy to avail of a car loan because most of the process of acquiring a loan can be completed online. However, people still keep making the wrong financial decisions regarding taking a loan. […]
The submission and processing of return is an important link between the taxpayers and tax administration. Section 44 of the Central Goods & Services Tax (CGST) Act, 2017 stipulates that every registered person shall furnish an annual return for each financial year. Annual return is a consolidation of returns filed i.e. GSTR 1 and GSTR […]
A multi-layered mechanism on grievance redressal exist to taxpayers, as below:– Pan-India Helpdesk: (24 x 7 Helpdesk – CBECMITRA): For all queries related to law and procedure under GST and related IT issues. National Toll-free number: 1800-1200-232 E-mail : [email protected] Helpdesk manager: [email protected] Taxpayer Self-service (web-ticketing) Taxpayers may also use a self-service mechanism available under ‘HELP’ tab on […]
Mr Satyakam informs the Court that Mr Rajesh Prasad has undertaken a complete review of the procedure and in view of what has transpired in the Court, he undertakes to disband the RAC. He proposes to issue appropriate notification to authorize a proper officer in respect of the refunds above the certain value strictly in accordance with the provisions of the Delhi GST Act. He undertakes to place before the Court on the next date, by way of an affidavit, the steps taken by him in this regard.
Corporation Bank invites online application for selection of Concurrent Auditors for Concurrent Audit of the Branches / Offices of the Bank. The Firms that are already empanelled with the Bank are required to participate as fresh allotment of assignments will be only through this process
On account of the lapses identified in a statutory audit assignment carried out by M/s S.R. Batliboi & Co. LLP, Chartered Accountants , it has been decided that RBI will not approve the said firm for carrying out statutory audit assignments in commercial banks for one year starting from April 1, 2019. Reserve Bank of […]
ICAI at its meeting held on 25.03.2019 has approved to change the names of 17 Branches of Regional Councils of ICAI set up by the Council as per the change in the name of Cities where these Branches are functioning. THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NOTIFICATION New Delhi, the 4th May, 2019 (CHARTERED […]
ICEGATE has now introduced simplified auto registration for IEC holders based on the email ids already provided by them for registration under GST. Detailed advisory on the same has been placed on the ICEGATE web portal. The simplified procedure does away with the requirement of the digital signature. Circular No. 14/2019-Customs F.No. 450/148/2015-Cus-IV Government of […]