Investing your hard-earned money is something that everyone should do. There are so many benefits of investing that it makes no sense not to get started. And when it comes to investing, new-age ULIPs have known to garner investor’s attention these days.
When AO has not brought any material on record to show that the assessee has paid over and above the purchase consideration as claimed and evident from the bank account then, in the absence of any evidence it cannot be held that the assessee has introduced his own unaccounted money by way of bogus long term capital gain.
The central idea behind purchasing term insurance is to safeguard your family against future financial contingencies in the event of any eventuality. Therefore, if you happen to purchase a term plan that is poorly chosen, the decision often proves worthless when the time comes since you hadn’t evaluated your requirements before buying the policy. So, […]
GST Council has made several recommendations related to GST Rate Reduction on Good and Services, Late Return Filing Fees Waiver, Extension of Due date of GST Return Filing, Simplification of Annual GST Return and to provide clarification related to GST on Various Services in its 31st GST Council Meeting held on 22nd December 2018. To […]
The total gross GST revenue collected in the month of December, 2018 is Rs. 94,726 crore of which CGST is Rs. 16,442 crore, SGST is Rs. 22,459 crore, IGST is Rs. 47,936 crore (including Rs. 23,635 crore collected on imports) and Cess is Rs. 7,888 crore (including Rs. 838 crore collected on imports). The total number of GSTR 3B Returns filed for the month of November up to 31st December, 2018 is 72.44 lakh.
Ministry of Micro, Small and Medium Enterprises (MSME) has recently established an Export Promotion Cell with an aim to create a sustainable ecosystem for entire MSME development.The benefits likely to accrue to the MSMEs are:
ICAI President’s Message for January 2019 covering Polling at ICAI Elections Successfully Concluded, ICAI Initiatives Acknowledged at SAFA Board Meeting, Recent Developments in GST, GST Account Assistant Scheme , ICAI Signs MoU with IIMA, Annual AOSSG Meeting in Singapore, Ireland (Dublin) Chapter to be Opened, Guidance on Resignation/Withdrawal Issued, New Standards on Internal Audit Issued, […]
Once the identity, creditworthiness and genuineness of the transaction has been proved, gift received from the brother-in-law is exempted in terms of provisions of section 56.
AO was not justified in making addition under section 68 where assessee had furnished evidences such as PAN and copies of bank statements of lenders which proved identity and creditworthiness of lenders and genuineness of impugned loan transactions.
United States has imposed global tariff of 25% and 10% in March, 2018 on certain steel and aluminium products, respectively, under Section 232 of US Trade Expansion Act of 1962. India took up this issue at World Trade Organisation (WTO) as it considers these additional duties to be non-compliant with WTO provisions.
