"I, Manish J. Sheth (CA, CFE (USA), FAFD (ICAI), DISA (ICAI), B.Com. (Mumbai University)) can be contacted on cell : 9869214472 or email : manishjshethca@gmail.com Feedback to my posts is welcome. "
Explore the recent Income Tax notices targeting donors to Registered Unrecognized Political Parties (RUPPs) for AY 2019-20. Uncover the issues surrounding these parties, including non-compliance and violation of statutory requirements. Delve into the income tax implications and understand how genuine donors can navigate this challenging situation. Stay informed about recent legal precedents, such as the case of ACIT v. Armee Infotech, providing insights into deduction claims for donations to political parties under section 80GGC.
Explore the implications of the inclusion of practicing professionals like CAs, CSs, and CWAs under the Prevention of Money-Laundering Act, 2002 (PMLA). Understand the increased responsibilities, verification requirements, and reporting obligations for these professionals.
