KSCAA has made a Representation on Challenges in Income Tax Related to Rectification Proceedings, Order Giving Effect, Delay in Processing Of Refund, Delay In Processing Lower Deduction Certificates and Delay in Tax Residency Certificates (TRC) with possible solutions to Principal Chief Commissioner of Income Tax, Karnataka & Goa. Date: 10th March, 2022 To, The Principal Chief […]
We here in, would like to bring to your kind notice, few of the issues which might be faced by taxpayers and Chartered accountants as regards certain specific proposals made in this Union Budget, 2022-2023.
9th November, 2021 To, Shri Ashok Kumar Gupta Chairperson National Financial Regulatory Authority chairperson@nfra.gov.in Subject: – Joint Representation on Consultation Paper – September, 2021 on Statutory Audit and Auditing Standards for Micro, Small and Medium Companies (MSMCs) 1. Bombay Chartered Accountants’ Society 2. Karnataka State Chartered Accountants Association 3. Chartered Accountants Association, Ahmedabad 4. Chartered […]
Section 143(1)(a) of the Act provides that where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142, such return shall be processed after making specific adjustments as mentioned under clauses (i) to (v) of 143(1)(a) to the compute of the total income or loss. An adjustment shall be made only after giving intimation and providing an opportunity to the assessee to respond within thirty days of issue of such intimation.
Representation seeking rationalisation of eligibility criteria for appointment of statutory auditors for of Commercial Banks (excluding RRBs), Urban Cooperative Banks (UCBs) and NBFCs (including HFCs)
A reasonable leniency may be exercised by the AOs to allow the Taxpayer’s who have paid the tax and interest beyond the time limit specified in the demand notice issued u/s 156 to accept the application and grant immunity u/s 270AA.
Karnataka State Chartered Accountants Association has made a representation to Smt Nirmala Sitharaman, Hon’ble Chairperson, GST Council Seeking Rationalisation of Provisions Relating To Revocation Of Cancellation Of Registration Under Amnesty Scheme. It requested the following- i. Necessary ROD orders may be issued u/s 172 of CGST Act, 2017, or any other alternative legislative measure may […]
KSCAA has made a representation highlighting an anomaly in Transfer Pricing Assessment proceedings (TP proceedings’) concerning the AY 2018-19. Full text of their representation is as follows:- KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION (R) CA. Kumar S jigajinni | President KSCAA CA. Pramod Srihari | Secretary KSCAA 13th July 2021 To, Smt. Nirmala Sitaraman Hon’ble Union […]
KSCAA have worked closely with multiple stakeholders to understand the issues at hand with respect to New Income Tax E-Filing Portal and made efforts to consolidate the same and enumerating 36 issues and also made few suggestions with respect to new e-filing portal. Please read Full text of the representation to Smt. Nirmala Sitaraman Hon’ble […]
In no case such existing registered trusts or institutions which have applied for re-registration by filling Form 10A under section 12A(1)(ac)(i) should be treated as trusts or institutions falling under 12A(1)(ac)(vi).
