Section 80E of the Income Tax Act, 1961 provides for a deduction to an assessee (being an individual), out of his income chargeable to tax, on account of any amount paid by him in the previous year by way of interest on loan taken by him from any financial institution or any approved charitable institution for the purpose of pursing his higher education or for the purpose of higher education of his relative.
the name of the purchaser shall be incorporated on the face of the demand draft, pay order, banker’s cheques, etc., by the issuing bank. These instructions shall take effect for such instruments issued on or after September 15, 2018.
CCI issues order against All India Chess Federation for abuse of dominant position and imposition of unreasonable vertical restraints on chess players and organisation of chess events; Imposes penalty of Rs. 6.92 lakhs on AICF for the Anti-Competitive conduct.
Officers of CGST Delhi North Commissionerate have arrested one Director of a Company for evasion of Service Tax. The Company had collected more than Rs. 3 Crores as Service Tax from its clients but had not deposited the same with the Government Exchequer. The power to arrest is provided under Section 91 of the Finance Act […]
In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitate the Ease of Doing Business, Government of India has decided to increase the threshold monetary limits for filing Departmental Appeals at various levels, be it Appellate Tribunals, High Courts and the Supreme Court in […]
New Functionality update on GST Portal: Form GST APL 01 (A form for Appeal to Appellate Authority) is now made available on GST Portal. A facility has been provided to taxpayers or any other person, to file an appeal to first Appellate Authority, against any decision or order, passed against him by an adjudicating authority, within […]
Web-help service is now available on CBIC website for the taxpayers where they can get faster resolution of their query. This can be accessed on the website http://cbec-gst.gov.in through SELF SERVICE option or by following below link https://cbec-gst.gov.in/cbec-portal-ui/?webticketing
As part of updating its registry, MCA is conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC . DIR-3 KYC is been notified vide Companies(Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018 and would be made available shortly for filing purposes. While filing […]
Full time Job Vacancy for Chartered Accountants having up to 5 Year experience in Direct Tax at Jaipur (Rajasthan) with a Manufacturing Company and a Consultancy Firm for Managerial Role. Interested candidate can mail their CV at cv@ejobocean.com. Job Description -Advising on client’s queries and concerns over emails and calls. -Researching, analyzing and interpreting tax laws […]
Assessment framed by AO on a non-existent company is a nullity in the eyes of law and void and the provisions of section 292 B cannot rescue the Income Tax Department: Sony India case
