Section 54EC- Govt Notifies that any bond redeemable after three years and issued on or after 15th June, 2017 by Power Finance Corporation PFC) Limited
Regarding difficulty in updating mobile number in Aadhaar data by the GST applicant/tax payers who are required to migrate to GST regime. The tax payers may use Aadhaar based e-sign facility to register themselves on the GST platform which requires Aadhaar OTP.
Admittedly there is a mistake committed by the assessee in not adding interest on the refund to his sources of income. There is no disputing the fact that the tax payer duly and diligently must necessarily in its return of income disclose all avenues of his income. The assessee in its defence has consistently maintained […]
Assessee is entitled for interest under section 244A of the Act on the unpaid interest and the unpaid interest partakes of the character of the principal amount due to the assessee as section 244A of the Act states any amount due to the assessee.
Salary accrued to a non-resident seafarer for services rendered outside India on a foreign going ship (with Indian flag or foreign flag) shall not be included in the total income merely because the said salary has been credited in the NRE account maintained with an Indian bank by the seafarer.
In this case, the investment was admittedly made one year before the date of sale of property. In view of language employed by Parliament in section 54 of the Act, it is not the requirement that the sale consideration has to be invested in purchase of property.
Where assessee had sufficiently explained the circumstances under which the payments were made to the truck drivers in cash, for transport of items and no doubt was raised over genuineness of the payments and the payees were identifiable; no dis allowance under section. 40A(3) was warranted.
Attention is invited to the Target Plus Scheme (TPS) (Para 3.7.1 of FTP 2004-2009) which was announced by DGFT on 31.08.2004 with the objective to. accelerate growth in exports by rewarding Star Export House who have achieved minimum export turnover in free foreign exchange of Rs. 10 crores in previous licensing year.
Announcement CPT June 2017 Examination Admit Cards Admit cards in respect of candidates admitted to the CPT June 2017 examination, with their photographs and signatures on them, are hosted on icaiexam.icai.org No physical admit cards will be sent to any candidate. Candidates are required to download and print their admit cards from the website. In […]
ITAT Hyderabad held in the case of Sai Prasanthi Realtors & Sai Eswar Real Estates & Developers v. Dy. CIT that if assessee has obtained audit report before due date, but did not enclose audit report along with return of income due to CBDT instructions in this regard then, imposition of penalty under section 271B […]
