we uphold the impugned order of the ld. CIT(Appeals) allowing the deduction claimed by the assessee on account of software licence fees paid to M/s. Wipro Limited. DCIT Vs Lovelock & Lewes ITAT (ITAT Kolkata) I.T.A. Nos. 1020 & 1021/KOL/2017 Date of Judgement/Order : 08/03/2019 Related Assessment Year : 2007-2008 & 2010-2011 Courts : All ITAT (5824) ITAT… Read More »
Goods that moved from outside Delhi for execution of the works contract are interstate sale and as such cannot be taxed under the Delhi Sales Tax on Works Contract Act, 1999. This Court is of the opinion that the appreciation of the law by the Tribunal in this case is sound and unexceptionable. The placement… Read More »
EPFO to provide calculation sheet to subscribers at the time of Provident Fund withdrawal on registered mobile number or the Email ID provided in the claim In order to increase transparency in respect of provident fund settlement withdrawal and to reduce the confusion & grievances of the subscribers, the EPFO has decided to provide the… Read More »
Government of India has introduced a pension scheme for unorganised workers namely Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) to ensure old age protection for Unorganised Workers. The unorganised workers mostly engaged as home based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, own… Read More »
Deferral of Implementation of Indian Accounting Standards (Ind AS) RBI/2018-2019/146DBR.BP.BC.No.29/21.07.001/2018-19 March 22, 2019 All Scheduled Commercial Banks(excluding Regional Rural Banks) Madam / Dear Sir, Deferral of Implementation of Indian Accounting Standards (Ind AS) Please refer to paragraph 3 of the Statement on Developmental and Regulatory Policies issued with the First Bi-monthly Monetary Policy 2018-19 on April 5,… Read More »
We find that the loan received by the assessee from Prakash Electronics System Ltd had been squared off by way of conversion of loan into equity in the sum of Rs 6,00,000/- was carried out by the assessee through book entries without any physical outflow of funds. It is usual business practice and is part… Read More »
Financial Year The word Financial Year has not been defined in any of the Act relating to GST. Therefore, the meaning of the Financial Year as provided in General Clauses Act can be adopted. Section 3(21) of the General Clauses Act, 1897 defines Financial Year as follows:— ‘(21)”financial year” shall mean the year commencing on the first day of April;’ It means the period commencing on the 1st Day of April and ending… Read More »
Distributor has inventory of expired drugs. As per the contract, the manufacturer will not accept return of expired drugs. Hence the distributor is forced to destroy. How to deal with reversal of ITC? Circular No. 72/46/2018 explains from the angle of Manufacturer, in case of return of expired drugs. but practically and genuinely there are… Read More »
Bank of Baroda Revised Service Charges from 01.04.2019 Download Bank of Baroda Revised Service Charges from 01.04.2019
List of GST registrations in Bank of Baroda (BOB PAN AAACB1534F) Download Bank of Baroda New GSTIN Numbers from 01.04.2019 State Wise