Follow Us :

H. Anil Kumar

Latest Posts by H. Anil Kumar

Remove Section 36(1) (va) of the Income Tax Act from inception

January 15, 2024 1464 Views 0 comment Print

Explore the impact of removing Section 36(1)(va) for employer contributions under Section 43B. Learn how it affects Provident Fund, ESI, and the call for equitable tax treatment.

Second Substantive Ground of Appeal against an Adjustment U/s 143(1)(A)(IV)

August 25, 2021 2598 Views 0 comment Print

In my previous article ‘The First Substantive Ground of Appeal against an adjustment u/s 143(1)(a)(iv)‘, the following propositions were advanced: ♦ Under the present Section 143(1) only processing of a return takes place and it is no longer an assessment. ♦ Processing of a return under Section 143(1) need not be done by the AO […]

First Substantive Ground of Appeal against Section 143(1)(a)(iv) adjustment

August 15, 2021 8469 Views 2 comments Print

The First Substantive Ground of Appeal against an adjustment made under Section 143(1)(a)(iv) It has been 15 years since the Income Tax Department hastily introduced e-filing, without proper testing and we CAs who filed the returns for our clients had to bear the brunt of the beta testing. Though e-filing was introduced in 2006, it […]

Questioning present system of GST paid by Housing Societies/ Apartment Owners Associations

January 2, 2019 21351 Views 4 comments Print

GST is presently being paid by Apartment Owners’ Associations on the monthly contributions collected and not on the value of services actually provided which is an anomaly and according to the author not as per the GST Act. . Registered AOAs unless they ar e NPOs cannot obtain the benefit of Sl No 70 of exemption notification No 12/2017. AOAs are not taking full benefit of the exemption in view of lack of clarity. There are challenges in billing and collection when AOAs have units which are both taxable and exempt. Associations registered under the Karnataka Apartment Ownership Act,1972 can follow a different system for billing and collection of monthly contributions to help in minimising the issues in GST compliance.

Legality of MCA’s Notification on Annual KYC of Directors

September 18, 2018 10374 Views 7 comments Print

Now that the time for filing DIR-3 KYC has just go over on September 15th for those directors who were already on record as on March 31st 2018, its time to critically review the requirement for annual KYC This article examines the rationale for the exercise and suggests better ways to achieve the desired objective

What Statutory Auditors of PNB have Assured Stake Holders in their Audit Report for the Year Ended 31-03-2017

February 22, 2018 18171 Views 14 comments Print

There is a lot of misinformation in the media about the role of the statutory auditors of a Bank whether at the HO or the branches. It is not just a test check as stated by a CA to Economic Times. It is not as per an article in Business Standard of 20th February 2018

Footpath Gyan: The Role of Footpaths & Pedestrian Crossings in a Nation’s fight against Corruption

October 1, 2017 2973 Views 3 comments Print

As children our experience with rules is from the guidance both by word and action from elders. At school, teachers lay down the rules and oversee their implementation. Most of these rules were social, safety oriented or simply for the convenience of the elders.

Reporting on Internal Financial Controls- Application of SA 265

August 22, 2016 13523 Views 0 comment Print

Reporting on Internal Financial Controls under Clause (i) of Subsection 143(3) of the Companies Act, 2013- Application of principles of SA 265- SA 265 guides the auditor on how to determine if there are deficiencies in internal control and how these deficiencies observed by him could be considered as significant and the manner of communicating such deficiencies to the management and those charged with governance.

Scope of Reporting U/s. 143(3) & 143(11) of Companies Act, 2013

June 19, 2016 250648 Views 0 comment Print

Article discusses about Scope of Reporting under Section 143(3) and 143(11) of the Companies Act, 2013 and in particular on the Existence, Adequacy and Effectiveness of Internal Financial Controls.

Search Post by Date
April 2024