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Promotion of 118 Income Tax Officers in the grade of ACIT

August 23, 2018 8991 Views 0 comment Print

Promotion of 138 Income Tax Officers in the grade of Assistant Commissioner of Income Tax on ad-hoc basis vide Order No. 137 of 2018 Dated- 23rd August, 2018.

CJI Launches Applications to Facilitate Litigants and Lawyers

August 23, 2018 747 Views 0 comment Print

Press Information Bureau Government of India Ministry of Electronics & IT Date: 23-August-2018 CJI Launches Applications to Facilitate Litigants and Lawyers  The Chief Justice of India Hon’ble Justice Dipak Misra launched various applications for the benefit of the litigants and lawyers during the third week of August, 2018 at an event in the Supreme Court of India. […]

Chartered Accountants (Election to the Council) Amendment Rules, 2018

August 23, 2018 1062 Views 0 comment Print

G.S.R. 796(E). Central Government hereby makes following rules further to amend Chartered Accountants (Election to the Council) Rules, 2006 namely Chartered Accountants (Election to the Council) Amendment Rules, 2018.

No Tax Exemption if society Fund was used to provide Scholarships to students for Business Need of group entity

August 22, 2018 1089 Views 0 comment Print

M/s. Commitment Mortality Vision Education Society Vs ACIT (ITAT Delhi) In the instant case by way of collusion between the FIITJEE Group and the assessee, the funds have been given to the Group entities in the name of disbursement of scholarship etc. This collusion is evident from the statement of Sh. Aseem Gupta as how […]

Penalty cannot be imposed merely because AO did not allow claim of Assessee

August 22, 2018 1437 Views 0 comment Print

Recently, in Aristo Pharmaceuticals Pvt. Ltd. vs. ACIT [ITA No.6680/Mum/2012 with ITA No.5553/Mum/2014 and ITA No.5479/Mum/2015, A.Y.: 2009-10, 2011-12 & 2012-13, decided on 26.07.2018], briefly stated, the assessee-company was engaged in the business of manufacturing and sale of pharmaceuticals products filed its return of income for A.Y. 2005-06 on 31.10.2005

Present Rate of Contribution to EPF, EPS and EDLI with notes

August 22, 2018 33576 Views 1 comment Print

PRESENT RATES OF CONTRIBUTION TO CONTRIBUTION AND ADMINISTRATION ACCOUNTS OF  EPF, EPS AND EDLI BY CONTRIBUTION ACCOUNTS ADMINISTRATION ACCOUNTS EPF EPS EDLI EPF@@ EDLI @@ EMPLOYEE 12% /10% ## 0 0 0 0 EMPLOYER Difference of EE share and Pension Contribution 8.33% ## 0.5% ## 0.50%  !! [w.e.f. 01-06-2018] 0 [w.e.f. 01-04-2017] 10% rate is […]

Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2018

August 21, 2018 4224 Views 0 comment Print

MCA has notified new format of Form No. DIR-3 KYC and extended due date of filing DIR-3 KYC from 31st August, 2018 to 15th September, 2018 vide Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2018.

Duty Exemption on goods imported for Kerala Flood Relief

August 21, 2018 1098 Views 0 comment Print

Notification No. 59/2018 -Customs dated 21.08.2018 seeks to exempt BCD & IGST on goods imported for donation for relief & rehabilitation of the people of Kerala affected by the floods upto 31.12.2018. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 59/2018–Customs New Delhi dated the 21st August, 2018 G.S.R. 789(E).- In exercise […]

Import Policy of bio-fuels revised from ‘Free’ to ‘Restricted’

August 21, 2018 1641 Views 0 comment Print

Import Policy of bio-fuels revised from ‘Free’ to ‘Restricted’ and allowed for non-fuel purpose on Actual user basis as per the National bio-fuel Policy, 4 June 2018.

No option to Restaurants to pay GST @ 18% with input tax credit

August 21, 2018 38766 Views 1 comment Print

In re Coffee Day Global Limited (GST AAR Karnataka) The Applicant is in the business of running restaurants under the name and style of Café Coffee Day where non-alcoholic beverages and food items are served. Notification No.46/2017 dated 14.11.2017 provides that restaurants can pay GST @5% (CGST-2.5% and SGST-2.5%), provided they do not avail input […]

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