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Appointment of Internal Auditor with NABARD Consultancy

June 19, 2019 2679 Views 0 comment Print

NABARD Consultancy Services Private Limited (NABCONS)- To conduct risk-based Internal Audit for the Company and to provide guidance on maintenance & finalization of Accounts, internal control systems and all statutory & legal compliances.

Assessment of Firms-Important issues which AO must consider

June 19, 2019 3648 Views 0 comment Print

C&AG had carried out a Performance Audit regarding ‘Assessment of Firms’ under the Income-tax Act, 1961 (‘Act) and in its Report No. 7 of 2014, has made certain suggestions so that in future, assessments in these cases are handled in a more effective manner by the Assessing Officers (AOs).

CBDT on non-allowability of set-off of losses against deemed income

June 19, 2019 15111 Views 0 comment Print

Clarification regarding non-allowability of set-off of losses against deemed income under section 115BBE of Income-tax Act, 1961 prior to assessment-year 2017-18-reg.

Insolvency Professional: ‘New’ Legal Compliance Manager!

June 19, 2019 12600 Views 1 comment Print

Almost two years and a half have passed and the The Insolvency and Bankruptcy Code, 2016 (IBC) has shown that the legislature wants no stone unturned to resolve the debt stuck in the NPA. It is also interesting to note that the progress has been stupendous. But, the protagonist of the show ‘Insolvency Professional ’(IP)has […]

Govt compulsorily retires 15 Senior Officers of Custom & Excise

June 18, 2019 1812 Views 0 comment Print

Government of India compulsorily retires 15 Senior Officers of the Indian Revenue Service (C &CE) with immediate effect  In exercise of the powers conferred by Clause (j) of Rule 56 of the Fundamental Rules, the President of India has retired 15 officers of Indian Revenue Service (IRS)(C&CE) in public interest with immediate effect on completing […]

Mere upload of order on SEBI website not amounts to service of order: SAT

June 18, 2019 1137 Views 0 comment Print

Dr. Prannoy Roy & Ors. Vs SEBI (SAT) it is essential for SEBI to supply a copy of the impugned order to the aggrieved party, namely, the appellants. An adjudication proceeding had been initiated by SEBI by issuance of the show cause notice. The appellants thus have the first right to be supplied a copy […]

SEBI: Factors to assure confidentiality in a settlement application

June 18, 2019 1071 Views 0 comment Print

A person who may have committed a violation of securities laws, other than those detailed in Tables VII to IX of Schedule II of the SEBI (Settlement Proceedings) Regulations, 2018, may make full disclosure of such violation and also provide substantial assistance in examination/investigation/inspection/inquiry/audit/any other proceedings that is initiated/is ongoing/yet to be initiated by the Board, against any person in respect of violation of the securities laws for the purpose of seeking grant of confidentiality and reduced settlement charges.

Modified Approval process for issue of paper refunds and Manual Order Upload function

June 18, 2019 17871 Views 0 comment Print

Reg. Modification in Approval process for issue of paper refunds and Manual Order Upload functionality in ITBA Assessment Module vide ITBA- Assessment Instruction No. 11. ITBA- ASSESSMENT INSTRUCTION NO. 11 DIRECTORATE OF INCOME TAX (SYSTEM) ARA Center, Ground Floor, E-Z, Jhandewalan Extension, New Delhi – 110055 F. No. System/ITBA/Instruction/Assessment/177/16-17/ Dated: 18.06.2019 To All Principal Chief Commissioners […]

Gift deed not invalid only because it was registered after death of donor

June 17, 2019 15039 Views 0 comment Print

Dinabandhu Mondal & Ors. Vs Laxmi Rani Mondal & Ors. (Calcutta High Court) The respondents have raised serious doubt over the authenticity of the said deed of gift because of the fact that it was registered after the death of the donor. However, well established is the law that it is not necessary for the […]

Password Format for TDS / TCS Deductor/Collectors & Taxpayers

June 16, 2019 35829 Views 2 comments Print

Article explains Passwords for TDS / TCS Deductor/Collectors and Taxpayers related to Registration, Conso File, Justification Report, Form 16/16A/27D/TBR, Intimation received through Email, Form 26AS and Form 16B. Passwords for Deductor Functionality Password Example Registration Password must contain a minimum of 8 alpha numeric characters with at least one capital letter. It is applicable for […]

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