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Implication of inclusion of practicing CA, CS & CWA under PML Act, 2002

CA, CS, CMA : Explore the implications of the inclusion of practicing professionals like CAs, CSs, and CWAs under the Prevention of Money-Launde...

May 10, 2023 10089 Views 0 comment Print

FAQ’s on issues in filing of Tax Audit Report Form 3CA-CD/3CB-CD

Income Tax : Discover the FAQs on issues in filing Tax Audit Report Form 3CA-CD/3CB-CD. Learn about prerequisites, process, and more....

September 27, 2022 26562 Views 2 comments Print

SC pulled up department for delay in filing of appeal, imposes personal cost of Rs 25,000

Goods and Services Tax : Hon’ble SC has in the case of UNION OF INDIA & ORS v/s M/S VISHNU AROMA POUCHING PVT. LTD. & ANR in SPECIAL LEAVE PETITI...

July 13, 2021 1455 Views 0 comment Print

Certain Relaxations Needed to Make More Vishwas In Vivad Se Vishwas Scheme

Income Tax : How much Vivad would be closed and how much Vishwas the Vivad se Vishwas scheme will be able to achieve that in coming months woul...

March 16, 2020 8538 Views 0 comment Print

24th July | Income Tax Day – “कोष मूलो दण्डः (Kosh Muloo Dand)”

Income Tax : As mark of celebration of 159th Income Tax Day on 24th July,2019, CBDT in a mega event to be held in Delhi to be graced by Hon’b...

July 24, 2019 6240 Views 3 comments Print

Latest News

GSTIN can be updated on SSP portal till 23rd April

CA, CS, CMA : Members & Students Services (Grievances Handling and e-Sahaayataa) Directorate The Institute of Chartered Accountants of India...

April 17, 2023 1377 Views 0 comment Print

Representation Against Proposed Amendment In Section 43B

Income Tax : We are drawing your kind attention towards Proposed Amendment in Section 43B of The Income Tax Act, 1961, which is detrimental to ...

March 18, 2023 12063 Views 2 comments Print

CBDT Proposes common Income-tax Return (ITR) Form

Income Tax : CBDT proposes to introduce a common ITR by merging all the existing returns of income except ITR-7. However, the current ITR-1 and...

November 1, 2022 9432 Views 0 comment Print

CBIC clarifies time limit for certain compliances under GST

Goods and Services Tax : Clarification regarding time limit for certain compliances pursuant to issuance of Notification No. 18/2022-Central Tax dated 28.0...

October 4, 2022 11886 Views 0 comment Print

EOW cracked a major PAN India income tax refund scam

Income Tax : EOW cracked a major PAN India income tax refund scam being  operated from Delhi NCR area. Economic Offences Wing, Bhubaneswar arr...

September 14, 2022 20958 Views 2 comments Print

Latest Judiciary

Urgent Need for a Time-Bound ‘National Litigation Policy’ Plan: Delhi High Court

Corporate Law : Explore Delhi High Court's landmark verdict in Union of India vs. Kiran Kanojia. Insights into National Litigation Policy, its im...

September 25, 2023 771 Views 0 comment Print

HC Quashes Section 263 Order and Imposes Rs 10,000 Cost on PCIT

Income Tax : Allahabad High Court quashes Section 263 order and imposes cost of Rs 10,000 on PCIT for lack of proper opportunity. Analysis of t...

August 18, 2023 10413 Views 0 comment Print

No addition in case of search Assessment, if no incriminating material found during search: SC

Income Tax : In respect of completed/unabated assessments, no addition can be made in absence of any incriminating material found during search...

April 25, 2023 13434 Views 0 comment Print

SC explains charitable purpose & advancement of general public utility

Income Tax : ACIT Vs Ahmedabad Urban Development Authority (Supreme Court) In these batch of appeals and special leave petitions, the primary q...

October 21, 2022 12345 Views 0 comment Print

Section 10(23C) approval cannot be given to profit-oriented educational institutions: SC

Income Tax : Where the objective of the institution appears to be profit-oriented, such institutions would not be entitled to approval under Se...

October 19, 2022 15672 Views 0 comment Print

Latest Notifications

Clarification with regard to trust audit reports issued by CBDT

Income Tax : Understand CBDT's recent clarifications on trust audit reports. Learn about substantial contributions, relatives, and concerns in...

October 9, 2023 6666 Views 0 comment Print

CA, CS & CMA brought under PMLA net if they manage client assets

CA, CS, CMA : Government notifies that following transactions done by CA, CS & CMA on behalf of their client will be covered under Preventio...

May 3, 2023 38388 Views 3 comments Print

NFRA imposes penalty of Rs 1 crore on Auditors

Company Law : NFRA's investigations inter-alia revealed that CDGL's Auditors for FY 2018-19 failed to meet relevant requirements of Standards on...

April 12, 2023 59172 Views 0 comment Print

NFRA Letter regarding instances of non compliances with Ind As

Company Law : Instances of non-compliance with Indian Accounting Standards (Ind ASs) on Accounting Policies for measurement of Revenue from Cont...

March 29, 2023 10143 Views 0 comment Print

CBDT condones delay in Form 10A filing upto Nov 25

Income Tax : Representations have been received by the Board stating that Form No.10A in some of such cases could not be filed by 31.03.2022. I...

November 1, 2022 18132 Views 0 comment Print

EOW cracked a major PAN India income tax refund scam

September 14, 2022 20958 Views 2 comments Print

EOW cracked a major PAN India income tax refund scam being  operated from Delhi NCR area. Economic Offences Wing, Bhubaneswar arrested accused Neeraj Singla (28 years age), a resident of Faridabad, Haryana, on 09.09.2022 in connection with EOW PS Case No.15 dt.27.08.2022 U/s 420/467/468/471/120-B IPC/ Sec.66 IT Act. The arrested accused was produced before the […]

CBDT issues Additional Guidelines For TDS under section 194R

September 13, 2022 56496 Views 1 comment Print

Additional Guidelines for removal of difficulties under section 194R(2) of Income-tax Act, 1961 – Circular No. 18/2022-Income Tax

Auditing Firms mandatory AQMM requirement W.E.F. 1st of APRIL 2023

September 13, 2022 2376 Views 0 comment Print

W.E.F. the 1st of APRIL 2023, the firms auditing the following types of entities shall be mandatory required to undertake an evaluation of their audit quality maturity using the Audit Quality Maturity Model Revised Version 1.0 (AQMM Rev v1.0). Centre For Audit Quality Directorate The Institute of Chartered Accountants of India 13th September, 2022 MANDATORY […]

CA Banned for 3 years by NFRA and imposes penalty for lapses in Audit

September 13, 2022 79692 Views 0 comment Print

The primary function of the Auditor in the present case was to ensure compliance with SAs to achieve the necessary audit quality to lend credibility to financial statements and facilitate its users. A critical, questioning attitude, an unwillingness to be satisfied by superficial explanations, not concluding on material matters without rigorous verification, diligent and methodical […]

Gyanvapi case: Plea for Worship Maintainable – Varanasi Court

September 13, 2022 1056 Views 0 comment Print

Smt. Rakhi Singh Vs State of U.P (District Court of Varanasi) In Gyanvapi case court rejected the Muslim side’s petition and said the suit is maintainable. The next hearing of the case is on Sep 22. Court held that suit of the plaintiffs is not barred by the Uttar Pradesh Sri Kashi Vishwanath Temple Act, 1983, […]

Sec 148A(d) order quashed for AY 2018-2019 as reassessment proceedings initiated after 3 years

September 10, 2022 2220 Views 0 comment Print

Ekaksh Commerce Pvt Ltd Vs ITO (Calcutta High Court) By this writ petition, petitioner has challenged the impugned order dated 27th April, 2022 under Section 148A(d) of the Income Tax Act, 1961, relating to assessment year 2018-19 on the ground that the same being without jurisdiction and contrary to the provision of Section 149(1)(a) and […]

Guidelines for filing/revising TRAN-1/TRAN-2 as per SC order

September 9, 2022 27189 Views 0 comment Print

Guidelines for filing/revising TRAN-1/TRAN-2 in terms of order of Supreme Court in the case of Union of India vs Filco Trade Centre Pvt. Ltd.

SC dismisses SLP of assessee challenging Section 148A(d) order

September 8, 2022 12435 Views 0 comment Print

Supreme Court dismisses Anshul Jain’s SLP challenging the re-opening notice under Section 148A(d) of the Income Tax Act. High Court’s decision upheld

Calcutta HC quashes Section 148A(d) order for AY 2014-2015

August 30, 2022 3519 Views 0 comment Print

Ved Prakash Mittal Vs Union of India (Calcutta High Court) By this writ petition, petitioner has challenged the impugned order under Section 148A(d) of the Income Tax Act, 1961 dated 29th July, 2022, relating to the assessment year 2014-2015 on the ground that the same being without jurisdiction and being barred by limitation since the […]

Indiscriminate notices by Income Tax Department without allowing reasonable time

March 29, 2022 10188 Views 0 comment Print

National Chamber of Industries & Commerce, U.P has made a representation against Indiscriminate notices by the Income Tax Department without allowing reasonable time. They submitted that in the last few days large number of taxpayers in whose cases the Assessment/Re-assessment, proceedings were pending at the Income Tax Department have been in receipt of various notices, […]

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June 2024