Daily Archives: August 16, 2018

Requisitioning and Acquisition of Immovable Property (Amendment) Act 2018 : Download /Print

By | August 16, 2018

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 9th August, 2018/Shravana 18, 1940 (Saka) The following Act of Parliament received the assent of the President on the 9th August, 2018, and is hereby published for general information:— THE REQUISITIONING AND ACQUISITION OF IMMOVABLE PROPERTY (AMENDMENT) ACT, 2018 NO. 21 OF 2018 [9th August,… Read More »

Disclosure of cash transactions in tax audit report

By | August 16, 2018

Disclosure of cash transactions in tax audit report Form 3CD has been Amended vide Notification No. 33/2018, dated 20-7-2018 Requirement of reporting cash transaction is dealt with by clauses 31(ba), 31(bb), 31(bc) and 31(bd). A snapshot of the disclosure requirements under section 269ST is given below: Clause Nature of Transaction Reporting requirement 31(ba) Receipt of Rs. 2 lakh… Read More »

No Income tax on sale of agriculture land just because it is to be used for industrial purpose by purchaser : GUJARAT HC

By | August 16, 2018

HIGH COURT OF GUJARAT Principal Commissioner of Income Tax, Rajkot-1 v. Heenaben Bhadresh Mehta M.R. SHAH AND A Y. KOGJE, JJ. R/TAX APPEAL NO. 672 OF 2018 JUNE  26, 2018 Mrs. Mauna M Bhatt for the Petitioner. JUDGMENT M.R. Shah, J. – Feeling aggrieved and dissatisfied with the impugned judgment and order dated 06.12.2017 passed by the learned Income… Read More »

Constitution (One Hundred and Second Amendment) Act 2018 : Download /Print

By | August 16, 2018

Constitution (One Hundred and Second Amendment) Act 2018 MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 11th August, 2018/Shravana 20, 1940 (Saka) The following Act of Parliament received the assent of the President on the 11th August, 2018, and is hereby published for general information:— THE CONSTITUTION (ONE HUNDRED AND SECOND AMENDMENT) ACT,… Read More »

Water Authority to bear GST if work contract issued before GST Act: KERALA HC

By | August 16, 2018

HIGH COURT OF KERALA Reena Engineers & Contractors (P.) Ltd. v. Kerala Water Authority DEVAN RAMACHANDRAN, J. W.P. (C) NOS. 13630 AND 13676 OF 2018 JUNE  7, 2018 Santhosh Mathew, Arun Thomas, Jennis Stephen, Alphin Antony, Vijay V. Paul, Smt. Karthika Maria and Smt. Maria Roy for the Petitioner. P. Benjamin Paul, SC for the Respondent. JUDGMENT 1. These two writ petitions are filed by the same petitioner,… Read More »

Revenue from Non-Exchange Transactions (Taxes and Transfers) : Exposure Draft of ASLB 23

By | August 16, 2018

Committee on Accounting Standards for Local Bodies Announcement The Committee on Accounting Standards for Local Bodies (CASLB) has been formulating Accounting Standards for Local Bodies (ASLBs) since March, 2005. So far, the Committee has issued fifteen ASLBs. Moving forward in this direction, the Committee has finalised the Exposure Draft of ASLB 23, ‘Revenue from Non-Exchange Transactions… Read More »