MCA notifies applicability of Several provisions of Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Act, 2022 with effect from 10th day of May, 2022. MINISTRY OF CORPORATE AFFAIRS NOTIFICATI ON New Delhi, the 10th May, 2022 SO. 2184(E).—In exercise of the powers conferred by sub-section (2) of section 1 of […]
CBDT amends Income Tax rule 114 related to Application for allotment of a permanent account number and inserts new Rule 114BA. Transactions for the purposes of clause (vii) of sub-section (1) of section 139A and Rule 114BB. Transactions for the purposes of sub-section (6A) of section 139A and prescribed person for the purposes of clause (ab) of […]
Akola Janta Commercial Co-Op Bank Ltd. Vs ACIT (ITAT Nagpur) A plain reading of Section 263 makes it clear that, the precondition to exercise revisionary jurisdiction by the PCIT/CIT suo moto under it, is that the order of AO is erroneous insofar as it is prejudicial to the interests of the revenue is concern. Consequently, […]
Finance Act, 2020, inter-alia, inserted clause (23FE) in section 10 of the Income-tax Act, 1961 “) to provide for exemption to wholly owned subsidiaries of Abu Dhabi Investment Authority (ADIA), sovereign wealth funds (SWF) and pension funds (PF)
It is declared that there is no conflict between the power to levy GST under GST Act and power of Municipal Corporation to levy advertisement fee or advertisement tax under Section 134 of the Karnataka Municipal Corporations Act.
DCIT Vs. Bhagyalaxmi Rolling Mill Pvt. Ltd. (ITAT Pune) The issue for adjudication in all these appeals is the assessee having received subsidy from Government of Maharashtra under Package Scheme of Incentives of 2007 (PSI-2007), Whether the said subsidy is capital receipt or a revenue receipt. The assessee-company had set up a mega project as […]
A. e-TDS/TCS RPU version 4.1 for Statement(s) from FY 2007-08 onwards is released (05/05/2022). Key Features – Return Preparation Utility (RPU) version 4.1 – This version of RPU is applicable with effect from May 05, 2022 onwards. Download RPU version 4.1 B. e-TDS/TCS File validation utility (FVU) versions 2.172 for FY 2007-08 to FY 2009-10 […]
Provisional empanelment status of the firm along with provisional point score for the year 2022-2023 will be available on the website www.care.cag.gov.in from 06 May 2022 to 17 May 2022. Representations, if any, for rectification of clerical mistakes in the online data may be sent by email at [email protected] by 17 May 2022.
Press Release M/s Hira Steel, Nashik is engaged in the business of trading of steel and scraps. The officers of the Nasik Preventive (Hqrs.), an anti evasion wing of Central Goods and Services Tax, Nashik has inspected/visited the premises of M/s Hira Steel, PAP-54, Near Siemens, MIDC, Ambad, Nashik as per the provision laid down in […]
Uphill Farms Private Limited Vs Union of India (Allahabad High Court) HC explains principles, powers and limitations on exercise of powers under Section 147/148 by Income Tax Officers/ Authorities under the Income tax Act, 1961, as under:- (a) The assessing officer under Section 147 of the Act, 1961 has the power to re-assess any income which […]
