Articles explains Whether accepting Specified Bank Notes (SBNs) post Demonetisation is illegal or not from Legal and Income Tax Perspective. The Government of India issued a historic notification in The Gazette of India vide Notification No. 2652 dated 8th November 2016 stating – “the Central Government hereby declares that the specified bank notes shall cease […]
Govt. introduces Additional Reporting by Auditors of Charitable Trusts under the Maharashtra Public Trusts Act, 1950 to check Income Tax Compliances/Evasion. The Law and Judiciary Department, Maharashtra State, vide Notification Dated 15/05/2019, has framed the Bombay Public Trusts (Second Amendment) Rules, 2019, to introduce additional reporting by the Auditors of the Trust in Form IX-D, as under:
Draconian Misinterpretation of Sec. 12A(1)(ba) of the Income Tax Act, 1961 by CPC (Income Tax Centralized Processing Center) shall lead to Huge Tax Demands The Finance Act, 2017 has inserted a new provision sec. 12A(1)(ba) w.e.f. 01/04/2018 (applicable from A.Y. 2018-19 and onwards as follows: “Conditions for applicability of sections 11 and 12. 12A. (1) The provisions of section […]
The Hon’ble Charity Commissioner, Maharashtra State, Mumbai vide Notification dated DGIPR/2016-2017/4109 had notified the Special Drive, 2017 Scheme for speedy disposal of all the Change Reports (Change in Trustees / Properties) during the period 01/01/2017 – 31/01/2017. Mode details about the same can be read here:
Charity Commissioner, Maharashtra State Special Drive 2017- For Filing of Audited Accounts and Change Reports under Bombay Public Trusts Act, 1950
