Gouranga Cement Pvt. Ltd. Vs DCIT (ITAT Kolkata) We have heard the rival contentions and perused the material available on record. In the instant case the assessee has shown business income of ₹13,36,761/- and LTCG income of ₹86,30,498/- only. Besides the above assessee has shown unabsorbed brought forward business loss of ₹16,64,542/- which was set […]
Yes, we all agree that change is an inevitable part of life but the block chain technology is the disruptive change which shall be witnessed by almost every sector. One of the examples of block chain technology is crypto-currencies. Please do understand that there is a difference between crypto-currencies being banned in India and crypto-currencies not being used as a legal tender in India.
The Board had convened a conference of Commissioners of Customs and Post Master Generals for deliberating on ways and means for improving trade facilitation through FPOs on 11th May 2018. Amongst the various issues of common interest discussed were:
OFFICE ORDER NO. 86 OF 2018 The following Transfer / Posting in the grade of Assistant / Deputy Commissioner of Income Tax (Local Change) are, hereby, ordered with immediate effect and until further orders: –
Comments are invited for Draft Provisional Assessment regulations, 2018 on [email protected] up to 15.6.2018. These regulations may be called the Customs (Finalisation of Provisional Assessment) Regulations, 2018.
Presentation on Standard on Cost Auditing Knowledge of Business, its processes and the Business Envirnment (SCA 104)- An auditor needs to understand the clients business before audit of cost statements. [Current Business scenario, Nature of Business, Product Portfolio, Raw Material Prices Global impact etc., whether it is part of any regulatory scam]
Presentation on Standard on Cost Auditing Cost Audit Documentation (SCA 102)- Documentation is necessary to have proper evidence that the audit was planned and performed in accordance with SCAs and applicable legal & regulatory requirements. Cost auditor should document all matters, important in providing evidence to support the opinion given in the cost audit report. Documentation means the working papers prepared by and for, or obtained and retained by the cost auditor in connection with cost audit on paper, film, electronic or other media.
The third proviso to sub-section (3) of section 54 of the MGST Act states that no refund of input tax credit shall be allowed in cases where the supplier of goods or services or both avails of drawback in respect of central tax.
Insolvency and Bankruptcy Board of India (IBB) on May 31st, 2018 issued Insolvency Professionals to act as Interim Resolution Professionals or Liquidators (Recommendation) Guidelines, 2018[1] to streamline the procedure for recommendation and appointment of Interim Resolution Professional (IRP) or liquidator.
The Income-tax Act provides for specific exemption from capital gains on conversion of a company into a limited liability partnership. In this article, we have analysed the provisions and the taxability in light of the rulings by various courts in India on the matter.
