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Telangana govt notifies Waybill for intra-State movement of goods

February 9, 2018 5517 Views 1 comment Print

Government of Telangana State hereby notifies the document known as Waybill that is to be issued by the registered person for intra-State movement of goods.

Budget 2018 – Goodies to allure corporate sector

February 9, 2018 9900 Views 2 comments Print

Budget 2018 could have led to a recent stock market rally of the investors to protect tax on long term capital gains, albeit it is benevolent foremost to the rural agrarian sector, followed by corporate sector with 25% corporate tax rate for financial year 2018-19 (applicable to the domestic companies having annual turnover below Rs. 250 crores in financial year 2016-17).

FAQs on RUN (Reserve Unique Name)

February 7, 2018 6438 Views 0 comment Print

Q.1 What are the features of RUN(Reserve Unique Name) web service Ans:  It is a simple and easy to use web service for reserving a name for a new company or for change of name for any existing company. Q.2 What is the first step for availing the service Ans: This is a post-login service and […]

No reassessment merely for non reflection of ITR filed manually in IT system

February 7, 2018 3141 Views 0 comment Print

In ground No. 1 of the appeal, the assessee has challenged the initiation of proceedings u/s. 147 of the Act for deposition of cash of Rs. 1057000 in the saving bank account during the financial year 2006-07 based on AIR Information and not filing of return of income by the assessee.

Section 80P: Interest on Surplus Fund invested in Short Term Deposits is Other Income

February 7, 2018 6396 Views 0 comment Print

Hon’ble Supreme Court in the case of M/s. Totagars Co-operative Sale Society Ltd. is binding on the revenue authority for the proposition that the interest income arising out of surplus fund invested in short term deposits and securities is the income from other sources.

Recent Changes in charges for late presentation of bill of entry

February 7, 2018 52872 Views 0 comment Print

Certain possibilities/situations regarding non-filing of bill of entry in prescribed time/applicability of late charge, have been noticed and it has therefore, been decided that:-

How to enter details in RUN (Reserve Unique Name) Service

February 7, 2018 12387 Views 0 comment Print

The Instruction Kit on RUN (Reserve Unique Name) Service has been prepared to enable you to access the Name Reservation Service with ease. This document provides references to law(s) governing the name reservation service and general instructions to provide details therein. The document also includes important points to be noted for successful submission.

Secretarial Audit – An Antidote for Corporate Frauds

February 7, 2018 4317 Views 1 comment Print

Secretarial audit of corporate law compliances, listing agreement compliances, SEBI rules and regulations and other laws specifically applicable to the corporates.

Upload Pending scrutiny orders/completion of processing: DIT

February 7, 2018 2142 Views 0 comment Print

As you may be aware, Assessing Officers are required to complete scrutiny proceeding in ITD system or on ITBA as well as process e-filed returns transferred by CPC in certain scenarios for various AYs.

CIDCO not Liable to pay Tax for the Income Earned by it as an Agent of Maharashtra Govt: ITAT

February 6, 2018 2319 Views 0 comment Print

On the facts and circumstances of the case in law, the Ld.CIT(A) erred in holding that the assessee is an agent of the Government of Maharashtra, without appreciating the facts that there is no evidence/documents substantiating that the Principal-Agent-Relationship exists between the assessee and the government of Maharashtra.

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