The introduction of GST regime is round the corner. It has become imperative to understand this new law to serve the businesses. Continuing with its efforts to update the members, the Indirect Taxes Committee of ICAI has launched a Standardized PPT on Goods & Services Tax (GST) to provide a single handed knowledge on upcoming […]
Under section 188 of the Code, the IBBI was established on 1st October, 2016. The Governing Board of the IBBI consists of the following members appointed by the Central Government, namely: a. a Chairperson; b. three members from amongst the officers of the Central Government not below the rank of Joint Secretary or equivalent, one […]
The Insolvency and Bankruptcy Board of India (IBBI) was established on 1st October, 2016. It is useful to chronicle the critical steps leading to establishment of the IBBI and the steps taken thereafter during the quarter September-December, 2016:
While pursuing the path of revenue mobilisation, which is an integral part of our core work, we must always keep in our view, the assurance given by Hon’ble Finance Minister that all honest, tax-compliant persons will be treated with dignity and courtesy.
It is well established that economic freedom and economic performance have very high positive correlation. Countries having high level of economic freedom generally out-perform the countries with not-so-high level of economic freedom.
pon determination by the data provider(s) that a specific data set has been published that includes one or multiple kinds of data listed in section 6 of this document, the data provider(s) may terminate the applicability of the license for that data, and this termination will have the effect of revocation of all rights provided under Section 3 of this license, including but not limited to immediate retraction of the data set concerned from public
The government has not taken any decision with regard to the tax on bank transactions, though it has received a set of recommendations from the Committee of Chief Ministers, Economic Affairs secretary, Mr Shaktikanta Das said at ASSOCHAM’s 96th Annual Function.
The Ministry of External Affairs (MEA) and the Department of Posts (DOP) announced on 24 January, 2017 their decision to utilize the Head Post Offices (HPO) in the various States as Post Office Passport Seva Kendra (POPSK) for delivering passport related services to the citizens of our country.
Provisions of section 147/148 even otherwise are for the benefit of the Revenue and not for the benefit of the assessee. If there was any mistake on the part of the assessee in filing his return of income, which was duly accepted by the Assessing Officer under section 143(1), the filing of appeal before the ld. CIT(Appeals) was not the proper remedy to correct the same.
Notice issued under section 147 of the Act in respect of an entity which ceases to exist by virtue of amalgamation order under section 394 of Companies Act, would be illegal and unsustainable.
