When assessee failed to file any reliable evidence or documents, which could establish that she was a sub-broker and cash deposited in her bank account belong to her clients, then action of treating the entire cash deposits as per section 69 as unexplained investment of the assessee was held to be fully justified.
A bench comprising Vijay Pal Rao (JM) and Vikram Singh Yadav (AM) of Income Tax Appellate Tribunal (ITAT) recently declared that Interest u/s 234B of the Income Tax Act can be levied on ground of non-payment of advance tax in respect of Alternative Minimum Tax.
Merely for the reason that new residential house property has been purchased by assessee in wife name, same cannot be basis for denial of deduction claimed u/s 54F.
Taxpayer is not able to reset and file GSTR-3B. Error report shows YOU HAVE ALREADY OFF SETTED GSTR-3B, but CESS liability is yet to be set off.
Filing of audit report in Form E-704 by the dealers registered on SAP system from 25/05/2016 for the financial year 2016-2017 on Mahavat website. :- Earlier MSTD had issued a Trade Circular No. 27T of 2009 date 1st October, 2009 on the subject of filing of VAT Audit Report in Form- 704 electronically.
Bank Guarantee/ cash security/ surety shall be taken as per the following norms for the purpose of extending the benefit under the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017.
The National Company Law Tribunals (NCLTs) should be empowered by law to grant relief on any tax that may be imposed on any waiver of accrued interest with regard to stressed assets referred for resolution under the Insolvency and Bankruptcy Code, the ASSOCHAM has said in its communication to the Finance Minister Mr Arun Jaitley.
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Central Board of Excise and Customs No. 110/2017-CUSTOMS (N.T.), dated 16th November, 2017 except as respects things done or omitted to be done before such super-session
The facility of export under LUT has been now extended to all registered persons who intend to supply goods or services for export without payment of integrated tax except those who have been prosecuted for any offence under the MGST Act or the Integrated Goods and Services Tax Act, 2017 or any of the existing laws and the amount of tax evaded in such cases exceeds Rs. 2.5 Cr.
FICCI has suggested Finance Minister Mr. Arun Jaitley to consider across the board tax rate cuts for businesses and individuals in the Budget for 2018-19 to spur domestic investment and demand.
