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CA, CS, CMA : Delve into the CRB Scam case study of 1996, exposing loopholes exploited by Bhansali, implications on public funds, and the vital ...
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CA, CS, CMA : Analysis of ICAIs disciplinary action against EY India affiliates for professional misconduct, implications, and insights into reg...
CA, CS, CMA : ICAI announces the extended deadline to 10th September 2023 for online empanelment of members as observers for the Nov/Dec 2023 CA...
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CA, CS, CMA : ICAI President's August 2024 message highlights India's economic growth, recent exam results, and the Union Budget's role in achie...
CA, CS, CMA : ICAI schedules Advanced ICITSS - Adv. IT Test in CBT mode for August and September 2024. Check eligibility, test dates, applicatio...
CA, CS, CMA : ICAI has declared the CA Foundation June 2024 results. With 91,900 candidates and a 14.96% pass rate, find detailed results and an...
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CA, CS, CMA : Explore the detailed analysis of a professional misconduct case under the Chartered Accountants Act 1949. Learn about findings, ch...
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CA, CS, CMA : The ICAI's Board of Discipline reprimanded CA Devarajan K.E. for misconduct, following an investigation into professional and othe...
As per section 271D & 271E, if a person accepts/repays a loan or deposit or specified sum/advance, as the case may be in contravention with the provisions of section 269SS/269T, he shall be liable to pay, by way of penalty, a sum equal to the amount of loan or deposit.
Section 271AAB provides for imposition of penalty at specified rates where search has been initiated. The rate of penalty varies from 10% to 60 % depending on the time when the assessee admits the undisclosed income.
Section 271AAB provides for imposition of penalty @ 10% on undisclosed income found during the course of search and admitted at the stage of search. Undisclosed income not admitted at the stage of search but disclosed in the return of income filed after the search to attract penalty @ 20%.
The Finance Act, 2012 had inserted the penalty provisions under section 271H providing for penalty ranging from Rs. 10,000 to Rs. 1,00,000 for failure to furnish quarterly statements of TDS and TCS within the time prescribed under the Income-tax law.
The Finance Act 2017 has inserted a new provision by way of section 271J which provides that where the Assessing Officer (AO) or Commissioner (Appeals) {CIT(A)}, in the course of any proceedings under the Income-tax Act 1961, finds that an accountant or a merchant banker or a registered valuer (hereinafter referred to as professional)
Sales and purchases of shares exceeding a specified amount respectively in the case of day traders. This information can be filed by the concerned brokers who are dealing with the day traders.
Under section 276B, the consequence of failure to comply with the provisions of Chapter XVII-B is rigorous imprisonment for a term which shall not be less than three months but which may extend to seven years and with fine.
The Finance Act, 2016 introduced a tax rate of 29% of total income to (domestic) company assessees provided its total turnover or the gross receipts in the previous year 2014-15 does not exceed five crore rupees.
Result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in November 2017 is likely to be declared on Sunday, the 28th January 2018
Section 282A provides for issue of any income tax notice or other document without it being signed by the requisite authority. Although, the said section has been provided in the context of computerized generation of notices and other documents
