Committee of Officers (CoO) on generation of electronic Invoice through GST Portal have decided to constitute a working sub Group to examine and recommend on the business process and policy & legal aspects for generation of e-invoice. Accordingly, this sub-Group shall consist of the following members:
In case there was only a survey operation under section 131 and no proceedings were pending at that point of time in assessee’s case, exercising power of search under section 132 by income tax authorities without any satisfaction recorded either of non-cooperation of assessee or a suspicion that income had been concealed by assessee warranting resort to the process of search and seizure made the the process of search and seizure conducted as invalid and to be quashed .
In the Income-tax Rules, 1962, in Appendix II, in Form No. 15H in Part II, in note 10, the following proviso shall be inserted, namely: Provided that such person shall accept the declaration in a case where income of the assessee, who is eligible for rebate of income-tax under section 87A, is higher than the income for which declaration can be accepted as per this note, but his tax liability shall be nil after taking into account the rebate available to him under the said section 87A.
Central Gujarat Chamber Of Tax Consultants has made a representation to The Finance Minister of Central Government on Difficulties In The Filing Of Annual GST Return. Difficulties In Filing of Annual GST Return includes difficulty in filing Details of 6A of Table No. III of GSTR-9, Outward Supply in Line No. 6C & 6D of […]
Pr. CIT Vs M/s. Sungard Solutions (I) Pvt Ltd (Bombay High Court) Seat of the Tribunal (in which State) would decide the jurisdiction of the Court to which the appeal would lie under the Act. In the present case, the orders were passed by the Bangalore Bench of the Tribunal (even if the assessment was […]
Mangathai Ammal (Died) through LRs Vs Rajeswari & Others (Supreme Court) In the case of Jaydayal Poddar it is held that the burden of proving that a particular sale is benami and the apparent purchaser is not the real owner, always rests on the person asserting it to be sold. In P. Leelavathi it is […]
CIT Vs M/s. Muthuramalingam Modern Rice Mill (Madras High Court) Conclusion: Conversion of Paddy into Rice by the process of de-husking would amount to “maufacture” as not only the form underwent a change but also the value addition happened by such process as a different commercial article came into being and therefore, assessee was entitled […]
For many of us, we want to invest in traditional life insurance plans for a longer term for generating a guaranteed corpus. However, we face problems when we require money before such a term is over. The financial crisis could strike at any time and one need funds for tackling it. However, a traditional life […]
Government of the Republic of India and the Government of Republic of the Marshall Islands, desiring to facilitate the exchange of information with respect to taxes have agreed as follows:
This publication presents a checklist of disclosures requirements under Ind AS applicable to entities preparing its financial statements voluntarily and mandatorily beginning on or after April 1, 2016, in accordance with Ind AS. The disclosures checklist is based on the Indian Accounting Standards (Ind AS) that are effective as on April 01, 2018, and includes disclosures required under Ind AS 115, Revenue from Contracts with Customers, a standard issued recently. This publication is for guidance purposes and should be read in conjunction with the relevant Ind AS and should not be considered as an alternative from studying the Ind AS.
