Applicant must possess the educational qualification M.COM / CA / ICWA / CS from a recognized institution/ University (as on 1st Jan 2017 as per Recruitment Rule of BSNL). The Candidates having qualification M.COM/CA/ICWA/CS from a recognized institution/University shall only be able to appear in the online examination
If the AO has not rejected the books of accounts and has only doubted the genuineness of the suppliers but not the genuineness of the purchases and if the payments are made by account payee cheques, s. 69C is not attracted. S. 69C cannot be applied where all purchase and sales transactions are part of regular books of accounts. The basic precondition for invoking s. 69C is that the expenditure incurred by the assessee should be out of books of accounts
The Petitioner seeks the quashing of a notice dated 20th March, 2015 issued under Section 148 of the Income Tax Act (Act) by the Assistant Commissioner of Income Tax (hereinafter Assessing Officer AO) and the order dated 1st February, 2016 passed by the AO disposing of the objections filed by the Petitioner to the said notice.
Provision of section 50C(1) of the Act are not applicable to section 54F for the purpose of determining the meaning of full value of consideration.
The only limitation prescribed by section 54 is that construction of new house ought to have been completed within a period of three years and said section does not prescribe any condition vis-a-vis the commencement of construction, therefore, assessee was entitled to deduction under section 54 even in respect of amount invested prior to the date of transfer of original asset.
It has now been decided by the Board that an all-India target of adding 1.25 crore new income-tax return filers may be set for FY 2016-17 to concentrate efforts of the Department to this critical key result area.
The Insolvency and Bankruptcy Board of India (IBBI) has granted the final approval to National e-Governance Services Ltd. (NeSL), allowing it to become the first information utility (IU) under the Insolvency and Bankruptcy Code, 2016 (the Code). Earlier in June, 2017, IBBI had granted an in-principle approval to NeSL to establish the IU.
The time limit for filing GSTR TRAN -1 has been extended upto 31.10.2017. Through this article an attempt is made to explain the types of credits/ stocks for credits that are eligible for posting in TRAN -1 and it is pertinent to note that all the instant tax credits (not stock credit) should be supported by the valid duty paying documents.
Sandeep Dasgupta & Risha Gandhi IFRS adoption in India: With globalization of businesses and imminently increasing need for transparent, comparable financial information across markets, the International Accounting Standards Board (IASB) embarked on developing, a single set of high quality, understandable and enforceable global accounting standards or International Financial Reporting Standards (IFRS) that require transparent and […]
Directorate of Revenue Intelligence has been, from time to time, issuing alerts regarding sensitization of officers and taking suitable measures to ensure prevention of illegal import of fireworks/ crackers of foreign origin.
