The works contract issue had been a never ending story right from the 46th amendment of Constitution of India in 1984 and it was settled only in 2002 by the Supreme Court in ACC Ltd case in 124 STC 59. But even after that celebrated decision, still thousands of works contract cases are pending in various High Courts.
ICDS does not specifically provide for the exclusion of WIP arising in the ordinary course of service provider. However it is also not specified any provision for the valuation of inventories.
CA accused of offering a bribe to ITO for performing an official act can be tried U/s. 7 and 13 (1)(d) of Prevention of Corruption Act and section 120-B of the IPC. The fact that the CA is not a public servant is irrelevant.
ORDER NO. 155 OF 2017 The President is pleased to extend the ad-hoc appointment of the following IRS officers to the grade of Joint Commissioner of Income Tax from 01.07.2017 to 15.10.2017: –
The use of deceptive loan entries to bring unaccounted money into banking channels plagues the legitimate economy of our country. The mere fact that the identity of the lenders is established & payments are made by cheques does not mean they are genuine.
In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017) (hereinafter referred to as the said Act), the Commissioner of State Tax, Maharashtra State, on the recommendations of the Council, hereby extends the time limit for furnishing the return by an Input Service Distributor
In exercise of the powers conferred by the second proviso to sub-section (1) of section 37, first proviso to sub-section (2) of section 38 and sub-section (6) of section 39 read with section 168 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017) (hereinafter referred to as the “said Act)
G.S.R. __ (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods of the description specified in column (2) of the Table below and falling under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975),
From filing your taxes to opening a bank account to making an investment, Aadhaar today has become an integral part of our financial lives. For those who have not applied for an Aadhaar Card yet, it is advisable to do so immediately, especially since the completion of the entire process may take 15 days to 3 months.
It has been brought to the notice of CBDT that in cases of deceased depositor who has made deposits under the Capital Gains Accounts Scheme, 1988; the banks are deducting TDS on the interest earned on such deposits in the hand of the deceased depositor and issuing TDS certificates in the name of the deceased depositor, which is not in accordance with the law
