Time limit for filing Form NFRA-1 will be 30 days from the date of deployment of this form on the website of Ministry/National Financial Reporting Authority (NFRA) for all bodies corporate governed by the said rule (excluding companies as defined under sub-section (20) of section 2 of the Companies Act, 2013, which are not required to file this Form).
Delay of three years in filing of application for registration under section 12A was condonable as assessee which was enjoying exemption from income-tax from its inception was suddenly faced with the prospect of being made liable under the taxing statute and due to same, assessee had filed applications under Section 12AA with considerable delay.
Addition under section 68 on aacount of entire credits shown by assessee in form of realization from debtors was justified as the onus was primary on assessee to prove that the said cash was sourced by realization from debtors, which had not been proved by assessee except making an oral statement and taking credence from the entries passed by him in the books of accounts.
The India Management Office (IMO) of the Appellant is providing a service to its other distinct units by way of carrying out activities such as accounting, administrative work, etc with the use of the services of the employees working in the IMO, the outcome of which benefits all the other units and such activity is to be treated as a taxable supply in terms of the entry 2 of Schedule I read with Section 7 of the CGST Act.
Deduction under section 35D for amortisation of preliminary expenses in connection with the issue of shares for public subscription was allowable to assessee bank extending financial services.
Gross collections at Rs. 6.75 lakh crore which is 15.7% higher than the gross collections for the corresponding period of last year The Provisional Figures of Direct Tax Collections up to November, 2018 show that gross collections are at Rs. 6.75 lakh crore which is 15.7% higher than the gross collections for the corresponding period of last year. Refunds amounting […]
The word reasonable has in law prima facie meaning of reasonable in regard to those circumstances of which the person concerned is called upon to act reasonably knows or ought to know as to what was reasonable. It may be unreasonable to give an exact definition of the word reasonable.
The article is an attempt to explore the untouched areas in the GST Audit arena. The companies have started the GST audit processes and are focussing on GSTR 9 (It will be given by the system later) and GSTR 9C but somehow companies are missing the vital links for the GST Audit.
It has been unambiguously and expressly provided that adverse judgments relating to the following issues should be contested on merits notwithstanding that the tax effect entailed is less than the monetary limits specified in para 3 above or there is no tax effect:
Notice is hereby given that the Limited Liability Partnerships (LLPs), as per Annexure A, have filed applications under the Limited Liability Partnership Act, 2008 for striking off their names from the register of the office of the Registrar of Companies, West Bengal.
