Constitution of India is not applicable to the Union territories and the provision in case of failure of constitutional machinery in case of Union territory of Jammu and Kashmir is governed by section 73 of the Jammu and Kashmir Reorganization Act, 2019
To simplify the process and procedure of filing Of return across various categories of taxpayers, the GST Council in its 31st meeting has decided that a New Return System under GST would be introduced for taxpayers. The important salient features of new returns are as under:
In this case assessee was asked to explain penalty on one count, whereas Penalty has been levied on other count. This itself called for quashing of penalty order passed by AO for all years under consideration. Therefore, penalty order was quashed and set aside.
Whether the Tribunal is correct in not confirming the disallowance under Section 40(a)(ia) made by the Assessing Officer when the assessee did not comply with requirements of Sub-Section 7 of Section 194C read with Rule 31A?.
Pension Fund Regulatory and Development Authority (PFRDA) has now permitted Overseas Citizen of India (OCI) to enroll in National Pension Scheme (NPS) at par with Non-Resident Indians vide Circular No: PFRDA/2019/19/PDES/3 dated 29th October 2019.
The claim of deduction under section 54EC could not be disallowed since assessee has demonstrated that non–investment in REC Bonds within the stipulated period was due to non–availability of bonds in the market.
Where assessee had explained source of the cash deposit in the bank account by producing copies of the bills of sale of agricultural produce, which supported the explanation of assessee that assessee had received cash out of sale of agriculture produce, no addition under section 68 was warranted.
As you are aware, the Sovereign Gold Bonds may be used as collateral by both banks and non-bank institutions and the creation of pledge, hypothecation or lien on the bonds shall be governed by Section 28 of the Government Securities Act, 2006 and Chapter VII of the Government Securities Regulations, 2007.
Since firm envisaged payment to a outgoing partner on the basis that the partner would have rendered service during his tenure but could not enjoy the fruits thereof on account of the fact that the work having remained incomplete, the concerned client had not been billed for the work already done, therefore, payment to the partner would amount to diversion of income at source by overriding title. Thus, payment made to the legal heir of deceased partner would be an admissible expenditure for firm.
MCA notifies revised Jurisdiction of Regional Director, North Region Directorate, Headquarter at New Delhi to States of Haryana, Punjab, Himachal Pradesh, Uttar Pradesh, Uttarakhand and Union territories of Chandigarh, Jammu and Kashmir, Ladakh and National Capital territory of Delhi. Ministry of Corporate Affairs Notification New Delhi, the 30th October, 2019 S.O. 3957(E).—In exercise of the […]
