Online TDS / TCS Challan Correction : e- Tutorial

By | May 22, 2019

e-Tutorial Online Challan Correction Important Information on Online Correction All type of corrections like “Personal information , Deductee details and Challan correction” can be made using Online correction functionality available from FY.2007-08 onwards depending upon the type of correction This feature is extremely useful as it is : Free of Cost :TRACES does not charge… Read More »

ROC forms for Registration of Charges

By | May 22, 2019

The forms introduced by MCA under Chapter VI Registration of Charges and Rules thereto which includes Form CHG-1, Form CHG-2, Form CHG-3, Form CHG-4, Form CHG-5, Form CHG-6, Form CHG-7, Form CHG-8 and Form CHG-9 vide Companies (Registration of Charges) Rules, 2014 as amended by Companies (Registration of Charges) Amendment Rules, 2019 read with Companies… Read More »

No Penalty for Cash loan from parents and brother for purchasing House : ITAT

By | May 21, 2019

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the cash loan received from the parents and brother of the assessee for the purchase of the house for the whole family cannot be penalized under Section 271D of the Income Tax Act. Penalty for Cash loan from parents and brother for… Read More »

New audit report Form 10B for Trust/Institution : CBDT Draft Notification

By | May 21, 2019

New audit report Form 10B for Trust/Institution : CBDT Draft Notification Section 12A of the Income-tax Act, 1961 (the Act) provides for conditions for applicability of Sections 11 and 12 of the Act. One such condition under  clause (b) of sub-section (1) thereof is that where the total income of the trust or institution computed… Read More »

Guidance Note on Report of Board of Directors by ICSI

By | May 21, 2019

Report of Board of Directors The Board’s Report is an important means of communication by the Board of Directors of a company with its stakeholders. The Board’s Report provides the stakeholders with both financial and non-financial information, including the performance and prospects of the company, relevant changes in the management and capital structure, recommendations as… Read More »

Reason to believe for Search u/s 132 Income Tax shall not be disclosed to any person/ authority/ Appellate Tribunal : ITAT

By | May 21, 2019

ITAT Bangalore M/s. Rajesh Exports Ltd. Vs ACIT ITA Nos. 928 to 931/Bang/2017 dated 27/11/2018 Assessment Year : 2008-09 to 2014-15 Theseseven appeals are filed by the assessee and these are directed against separate orders of CIT (A) – 11, Bangalore dated 28.02.2017 for A. Ys. up to 2011 – 12 and dated 20.11.2017 for A.… Read More »

GST Practitioners Exam Guidelines

By | May 21, 2019

Examination for confirmation of enrolment of GST Practitioners GUIDELINES FOR THE CANDIDATES (Please refer sub-rule (9) of rule 83A of the Central Goods and Services Tax Rules, 2017) A. Guidelines for filling up application form: 1. All GST Practitioners who are eligible to appear in the examination are required to submit online application on the… Read More »

Capital Gain Exemption can not be denied if Income Tax Return not Filed : ITAT

By | May 21, 2019

The benefit of the capital gain exemption cannot be denied to a taxpayer on the ground that the income tax return is not filed declaring such income, said the Income Tax Appellate Tribunal (ITAT), Bangalore bench. Smt. Tupel Raja Iyengar Shakuntala, VS The Income-Tax Officer ITA No.64/Bang/2019 Assessment Year : 2009-10 Dated 10.05.2019 O R… Read More »