" CA Rubneet Anand B.Com, M.Com(Finance& Taxation), MBA(Finance & International Business- IMT Ghaziabad) carubneetanand@gmail.com Deputy Manager (Internal Audit & Indirect Taxation)-M/s SML Isuzu Ltd Facebook Page- Corporate Prism-Consultation in Accounting & Corporate Management https://www.facebook.com/CARubneetAnand/ "
April 2020 Union of India & Ors. Vs Exide Industries Limited & Anr. (Supreme Court); Civil Appeal No. 3545/2009; 24/04/2020 Supreme court upheld the constitutional validity of section 43B(f) of income tax Act i.e. deduction is available only on actual payment of leave to the credit of employee BT India Private Ltd. Vs ITO (Delhi […]
Changes brought in by Consumer Protection Act 2019 The new provisions in the new Act are a step towards betterment of the consumer legal fraternity and strengthens the grips of law towards the consumers while filling up the gaping gaps of the Act of 1986. A lot will now depend on its implementation by the authorities as well as litigants.
A. Summary of Income Tax Notifications and Circulars for February 2020 1. Notification No. 11/2020 dated 13/02/2020– CBDT notifies (Rule 114AAA) prescribing that PAN will become inoperative if a person, who has been allotted PAN as on the 1st day of July, 2017 and is required to intimate his Aadhaar number under section 139AA(2), has […]
Income Tax Notifications, Circulars, Order for the Month of October 2019 a. Circular 1. Circular no. 29/2019 dated 2nd October 2019– Clarifications in respect of option exercised under section 115BAA (related to lower rate of 22%) inserted through The Taxation Laws (Amendment) Ordinance, 2019– related to allowability of brought forward loss on account of additional […]
THE TAXATION LAWS (AMENDMENT) ORDINANCE, 2019 1. Tax on income of certain domestic companies- Option for Domestic Company for concessional tax rate of 22% (excluding surcharge & cess) subject to the condition that they will not avail any exemption/incentive. Exemptions / benefits that cannot be availed are listed below: Additional Depreciation on Plant & Machinery […]
The article briefly explains the concept of Forensic Auditing and the use of the technique in the detection of the frauds. The relevance of the concept has been highlighted -especially in the emerging scenario of continuous development in the fields of accounting and auditing. The article also touches upon the various inter-related concepts and the vital areas where the technique of Forensic Auditing can be best used in detecting the misappropriations and manipulations in the financial as well as operational matters.
Corporate Governance In simple terms, the combination of the rules, regulations, practices, policies and processes required by an entity to work upon in order to create a controlled and regulated environment is called CORPORATE GOVERNANCE. The concept of Corporate Governance is important for an entity because an entity carries a responsibility of securing the interest […]
Understand the basics of Income Tax Returns and their significance. Learn about the five heads of income and how they affect your tax liability.
Avoid common mistakes in ITR forms to prevent notice from tax authorities. Learn how to file your income tax return correctly and avoid penalties.
Form 16 becomes quite a topic of discussion in all office campuses during the tax filing season. Though we know that Form 16 is for tax filing, many of us still find it hard to understand the components of Form 16 while filing the return. Understanding Form 16 is the key to better tax planning. […]
